Wealth Alliance LLC Purchases Shares of 4,393 Genuine Parts Company (NYSE:GPC)

Wealth Alliance LLC bought a new position in Genuine Parts Company (NYSE:GPC - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 4,393 shares of the specialty retailer's stock, valued at approximately $523,000.

Other large investors have also bought and sold shares of the company. Bingham Private Wealth LLC grew its position in shares of Genuine Parts by 33.2% in the first quarter. Bingham Private Wealth LLC now owns 2,478 shares of the specialty retailer's stock valued at $295,000 after purchasing an additional 618 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its position in shares of Genuine Parts by 2.8% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 10,735 shares of the specialty retailer's stock valued at $1,279,000 after purchasing an additional 293 shares in the last quarter. Berkeley Capital Partners LLC grew its position in shares of Genuine Parts by 106.9% in the first quarter. Berkeley Capital Partners LLC now owns 8,037 shares of the specialty retailer's stock valued at $958,000 after purchasing an additional 4,152 shares in the last quarter. Calton & Associates Inc. purchased a new position in shares of Genuine Parts in the first quarter valued at $416,000. Finally, Csenge Advisory Group grew its position in shares of Genuine Parts by 19.6% in the first quarter. Csenge Advisory Group now owns 2,707 shares of the specialty retailer's stock valued at $309,000 after purchasing an additional 444 shares in the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on GPC. Truist Financial lifted their price objective on Genuine Parts from $137.00 to $143.00 and gave the company a "buy" rating in a research note on Wednesday. JPMorgan Chase & Co. lifted their price objective on Genuine Parts from $134.00 to $145.00 and gave the company an "overweight" rating in a research note on Wednesday. UBS Group lifted their price objective on Genuine Parts from $125.00 to $135.00 and gave the company a "neutral" rating in a research note on Wednesday. The Goldman Sachs Group reissued a "sell" rating and set a $114.00 price objective (down previously from $133.00) on shares of Genuine Parts in a research note on Tuesday, April 1st. Finally, Wall Street Zen lowered Genuine Parts from a "buy" rating to a "hold" rating in a research note on Saturday, April 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $135.29.

Genuine Parts Price Performance

GPC stock traded down $0.55 during mid-day trading on Friday, hitting $132.66. 179,162 shares of the stock were exchanged, compared to its average volume of 1,427,782. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.14 and a quick ratio of 0.52. The business has a fifty day moving average price of $124.86 and a 200 day moving average price of $121.00. Genuine Parts Company has a 12 month low of $104.01 and a 12 month high of $149.22. The stock has a market capitalization of $18.45 billion, a price-to-earnings ratio of 22.83 and a beta of 0.74.

Genuine Parts (NYSE:GPC - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The specialty retailer reported $2.10 EPS for the quarter, topping the consensus estimate of $2.08 by $0.02. The firm had revenue of $6.16 billion for the quarter, compared to the consensus estimate of $6.10 billion. Genuine Parts had a return on equity of 22.41% and a net margin of 3.40%. The company's quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.44 earnings per share. On average, sell-side analysts anticipate that Genuine Parts Company will post 7.9 EPS for the current year.

Genuine Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Stockholders of record on Friday, June 6th were issued a $1.03 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $4.12 annualized dividend and a dividend yield of 3.11%. Genuine Parts's dividend payout ratio is currently 70.91%.

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.