Diageo plc $DEO Shares Sold by Atria Wealth Solutions Inc.

Key Points

• Atria Wealth Solutions Inc. has reduced its holdings in Diageo plc by 64.8% during the 2nd quarter, resulting in ownership of 4,685 shares worth approximately $473,000.
• Diageo has announced a semi-annual dividend of $2.5192 per share, significantly up from the previous dividend of $1.62, indicating a strong financial position.
• Analysts have mixed views on Diageo, with Bank of America lowering its target price from $117.00 to $109.00 while maintaining a "buy" rating, while others have issued "sell" ratings.

Atria Wealth Solutions Inc. reduced its holdings in Diageo plc (NYSE:DEO - Free Report) by 64.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,685 shares of the company's stock after selling 8,606 shares during the period. Atria Wealth Solutions Inc.'s holdings in Diageo were worth $473,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of DEO. Concord Wealth Partners lifted its position in shares of Diageo by 90.3% in the second quarter. Concord Wealth Partners now owns 569 shares of the company's stock valued at $57,000 after acquiring an additional 270 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in shares of Diageo by 8.1% in the second quarter. Sequoia Financial Advisors LLC now owns 2,588 shares of the company's stock valued at $261,000 after acquiring an additional 195 shares in the last quarter. Yousif Capital Management LLC lifted its position in shares of Diageo by 8.4% in the second quarter. Yousif Capital Management LLC now owns 6,808 shares of the company's stock valued at $687,000 after acquiring an additional 530 shares in the last quarter. MGO One Seven LLC lifted its position in shares of Diageo by 2.3% in the second quarter. MGO One Seven LLC now owns 10,974 shares of the company's stock valued at $1,107,000 after acquiring an additional 250 shares in the last quarter. Finally, CWM LLC lifted its position in shares of Diageo by 6.9% in the second quarter. CWM LLC now owns 3,099 shares of the company's stock valued at $312,000 after acquiring an additional 199 shares in the last quarter. 8.97% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on DEO. Bank of America decreased their target price on Diageo from $117.00 to $109.00 and set a "buy" rating on the stock in a research report on Friday, September 26th. The Goldman Sachs Group upgraded Diageo from a "sell" rating to a "neutral" rating in a research report on Thursday, August 7th. Finally, Weiss Ratings restated a "sell (d)" rating on shares of Diageo in a research report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $119.00.

Diageo Stock Performance

Shares of Diageo stock opened at $97.69 on Monday. Diageo plc has a one year low of $93.42 and a one year high of $139.96. The company has a market cap of $54.38 billion, a price-to-earnings ratio of 14.26, a PEG ratio of 3.55 and a beta of 0.58. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.64 and a current ratio of 1.63. The business's 50 day moving average price is $103.39 and its 200 day moving average price is $105.72.

Diageo Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, December 4th. Investors of record on Friday, October 17th will be given a dividend of $2.5192 per share. The ex-dividend date is Friday, October 17th. This is a positive change from Diageo's previous semi-annual dividend of $1.62. This represents a yield of 516.0%. Diageo's dividend payout ratio (DPR) is 72.41%.

About Diageo

Diageo plc, together with its subsidiaries, engages in the production, marketing, and sale of alcoholic beverages. The company offers scotch, gin, vodka, rum, raki, liqueur, wine, tequila, Chinese white spirits, cachaça, and brandy, as well as beer, including cider and flavored malt beverages. It also provides Chinese, Canadian, Irish, American, and Indian-Made Foreign Liquor whiskies, as well as flavored malt beverages, ready to drink, and non-alcoholic products.

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