Avidian Wealth Enterprises LLC Invests $270,000 in Genuine Parts (NYSE:GPC)

Avidian Wealth Enterprises LLC acquired a new position in Genuine Parts (NYSE:GPC) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,316 shares of the specialty retailer’s stock, valued at approximately $270,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of GPC. Exchange Traded Concepts LLC increased its stake in shares of Genuine Parts by 284.4% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,999 shares of the specialty retailer’s stock worth $279,000 after purchasing an additional 1,479 shares in the last quarter. CX Institutional increased its stake in shares of Genuine Parts by 5.2% in the 3rd quarter. CX Institutional now owns 3,554 shares of the specialty retailer’s stock worth $496,000 after purchasing an additional 177 shares in the last quarter. McKinley Carter Wealth Services Inc. increased its stake in shares of Genuine Parts by 6.3% in the 3rd quarter. McKinley Carter Wealth Services Inc. now owns 9,770 shares of the specialty retailer’s stock worth $1,365,000 after purchasing an additional 579 shares in the last quarter. Vontobel Holding Ltd. increased its stake in shares of Genuine Parts by 2.9% in the 3rd quarter. Vontobel Holding Ltd. now owns 4,927 shares of the specialty retailer’s stock worth $688,000 after purchasing an additional 137 shares in the last quarter. Finally, Good Life Advisors LLC purchased a new stake in Genuine Parts in the 3rd quarter worth $262,000. 78.83% of the stock is currently owned by hedge funds and other institutional investors.

Genuine Parts Stock Up 1.9 %

GPC opened at $124.63 on Friday. The firm has a 50-day simple moving average of $118.33 and a two-hundred day simple moving average of $128.01. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45. The company has a market capitalization of $17.33 billion, a PE ratio of 16.04 and a beta of 0.94. The company has a quick ratio of 0.57, a current ratio of 1.17 and a debt-to-equity ratio of 0.81.

Genuine Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend was Friday, December 6th. Genuine Parts’s dividend payout ratio (DPR) is presently 51.48%.

Insider Buying and Selling at Genuine Parts

In related news, Director Wendy B. Needham sold 1,608 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $120.78, for a total value of $194,214.24. Following the completion of the transaction, the director now owns 11,357 shares of the company’s stock, valued at approximately $1,371,698.46. This trade represents a 12.40 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GPC. Loop Capital began coverage on Genuine Parts in a research note on Thursday, January 16th. They issued a “buy” rating and a $155.00 price target for the company. Northcoast Research lowered Genuine Parts from a “buy” rating to a “neutral” rating in a research note on Friday, January 17th. Truist Financial cut their price target on Genuine Parts from $164.00 to $129.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. cut their price target on Genuine Parts from $162.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. Finally, Wedbush cut their price target on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Eight research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Genuine Parts presently has a consensus rating of “Hold” and an average price target of $141.50.

Genuine Parts Company Profile

Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates in two segments: Automotive Parts Group and Industrial Parts Group segments. The company distributes automotive replacement parts for hybrid and electric vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, marine equipment, and heavy duty equipment; and equipment and parts used by repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, and individuals.