Global Wealth Management Investment Advisory Inc. Has $4.72 Million Holdings in The Southern Company (NYSE:SO)

Global Wealth Management Investment Advisory Inc. decreased its position in The Southern Company (NYSE:SO) by 17.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 52,299 shares of the utilities provider’s stock after selling 10,966 shares during the quarter. Global Wealth Management Investment Advisory Inc.’s holdings in Southern were worth $4,716,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Central Pacific Bank Trust Division acquired a new stake in shares of Southern in the first quarter valued at about $39,000. Cedar Wealth Management LLC grew its holdings in Southern by 63.2% during the first quarter. Cedar Wealth Management LLC now owns 545 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 211 shares during the period. TruNorth Capital Management LLC bought a new position in Southern during the second quarter worth about $39,000. Versant Capital Management Inc grew its holdings in Southern by 31.8% during the second quarter. Versant Capital Management Inc now owns 585 shares of the utilities provider’s stock worth $45,000 after purchasing an additional 141 shares during the period. Finally, West Branch Capital LLC grew its holdings in Southern by 34.7% during the third quarter. West Branch Capital LLC now owns 501 shares of the utilities provider’s stock worth $45,000 after purchasing an additional 129 shares during the period. Institutional investors and hedge funds own 64.10% of the company’s stock.

Insider Buying and Selling

In other Southern news, EVP Bryan D. Anderson sold 6,565 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $89.54, for a total value of $587,830.10. Following the completion of the transaction, the executive vice president now directly owns 44,467 shares of the company’s stock, valued at $3,981,575.18. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, EVP Bryan D. Anderson sold 6,565 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $89.54, for a total transaction of $587,830.10. Following the sale, the executive vice president now owns 44,467 shares in the company, valued at approximately $3,981,575.18. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO James Y. Kerr II sold 30,000 shares of the firm’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $89.64, for a total transaction of $2,689,200.00. Following the sale, the chief executive officer now owns 145,088 shares in the company, valued at approximately $13,005,688.32. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.18% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on SO. JPMorgan Chase & Co. lifted their price target on Southern from $80.00 to $87.00 and gave the stock an “underweight” rating in a report on Monday, August 12th. Barclays boosted their price objective on Southern from $71.00 to $83.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. BMO Capital Markets reduced their price objective on Southern from $99.00 to $97.00 and set an “outperform” rating for the company in a report on Friday. Guggenheim boosted their price objective on Southern from $93.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Finally, Wells Fargo & Company boosted their price objective on Southern from $77.00 to $89.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $89.27.

Southern Stock Down 0.0 %

Shares of SO traded down $0.03 on Tuesday, reaching $88.09. The company’s stock had a trading volume of 76,650 shares, compared to its average volume of 4,442,738. The company has a current ratio of 0.91, a quick ratio of 0.66 and a debt-to-equity ratio of 1.66. The Southern Company has a twelve month low of $65.80 and a twelve month high of $94.45. The stock has a market capitalization of $96.32 billion, a PE ratio of 20.49, a PEG ratio of 3.15 and a beta of 0.52. The firm has a fifty day moving average of $89.77 and a 200-day moving average of $83.47.

Southern (NYSE:SO) last released its quarterly earnings data on Thursday, October 31st. The utilities provider reported $1.43 EPS for the quarter, topping the consensus estimate of $1.33 by $0.10. The company had revenue of $7.27 billion during the quarter, compared to the consensus estimate of $7.14 billion. Southern had a net margin of 17.87% and a return on equity of 12.78%. Southern’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same period last year, the firm earned $1.42 EPS. Equities analysts predict that The Southern Company will post 4.04 EPS for the current year.

Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be issued a $0.72 dividend. This represents a $2.88 annualized dividend and a yield of 3.27%. The ex-dividend date is Monday, November 18th. Southern’s dividend payout ratio (DPR) is presently 66.98%.

About Southern

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. The company also develops, constructs, acquires, owns, and manages power generation assets, including renewable energy projects and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, and Tennessee, as well as provides gas marketing services, gas distribution operations, and gas pipeline investments operations.