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

Avidian Wealth Enterprises LLC purchased a new position in Genuine Parts (NYSE:GPC - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 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 bought and sold shares of GPC. International Assets Investment Management LLC grew its position in Genuine Parts by 14,222.1% in the 3rd quarter. International Assets Investment Management LLC now owns 584,342 shares of the specialty retailer's stock valued at $81,621,000 after purchasing an additional 580,262 shares during the period. State Street Corp grew its holdings in shares of Genuine Parts by 5.4% during the third quarter. State Street Corp now owns 7,844,189 shares of the specialty retailer's stock valued at $1,103,300,000 after buying an additional 401,180 shares during the last quarter. Boston Trust Walden Corp bought a new stake in shares of Genuine Parts during the third quarter worth about $39,474,000. Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of Genuine Parts by 1,038.4% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 277,802 shares of the specialty retailer's stock worth $38,803,000 after acquiring an additional 253,400 shares during the last quarter. Finally, Synovus Financial Corp lifted its position in Genuine Parts by 95.4% in the 3rd quarter. Synovus Financial Corp now owns 391,670 shares of the specialty retailer's stock valued at $54,708,000 after acquiring an additional 191,272 shares in the last quarter. 78.83% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on GPC. Truist Financial decreased their price objective on Genuine Parts from $164.00 to $129.00 and set a "buy" rating for the company in a report on Wednesday, October 23rd. Redburn Atlantic raised Genuine Parts to a "hold" rating in a research report on Monday, November 11th. JPMorgan Chase & Co. cut their price objective on shares of Genuine Parts from $162.00 to $135.00 and set an "overweight" rating on the stock in a report on Tuesday, October 22nd. Loop Capital initiated coverage on shares of Genuine Parts in a research note on Thursday, January 16th. They issued a "buy" rating and a $155.00 target price for the company. Finally, Wedbush cut their price target on shares of Genuine Parts from $145.00 to $120.00 and set a "neutral" rating on the stock in a report on Wednesday, October 23rd. Eight analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $141.50.

Insider Buying and Selling at Genuine Parts

In other news, Director Wendy B. Needham sold 1,608 shares of Genuine Parts 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 in the company, valued at $1,371,698.46. This trade represents a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.37% of the company's stock.

Genuine Parts Stock Performance

Shares of Genuine Parts stock traded up $0.19 on Monday, reaching $124.87. 1,973,798 shares of the company traded hands, compared to its average volume of 1,609,981. The company has a 50 day moving average of $118.34 and a 200 day moving average of $127.48. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.17 and a quick ratio of 0.57. Genuine Parts has a 52 week low of $112.74 and a 52 week high of $164.45. The firm has a market capitalization of $17.36 billion, a PE ratio of 16.07 and a beta of 0.94.

Genuine Parts Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date of this dividend was Friday, December 6th. Genuine Parts's dividend payout ratio is currently 51.48%.

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.