Alliancebernstein L.P. Has $397.54 Million Stake in Baker Hughes (NASDAQ:BKR)

Alliancebernstein L.P. trimmed its holdings in shares of Baker Hughes (NASDAQ:BKR - Free Report) by 3.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,691,390 shares of the company's stock after selling 342,536 shares during the quarter. Alliancebernstein L.P. owned about 0.98% of Baker Hughes worth $397,541,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Townsquare Capital LLC raised its position in shares of Baker Hughes by 41.0% in the third quarter. Townsquare Capital LLC now owns 21,551 shares of the company's stock valued at $779,000 after purchasing an additional 6,272 shares during the period. Hantz Financial Services Inc. raised its holdings in Baker Hughes by 4.6% in the 3rd quarter. Hantz Financial Services Inc. now owns 9,027 shares of the company's stock worth $326,000 after acquiring an additional 401 shares during the period. True Wealth Design LLC lifted its position in Baker Hughes by 2,181.6% during the 3rd quarter. True Wealth Design LLC now owns 867 shares of the company's stock worth $31,000 after acquiring an additional 829 shares during the last quarter. Erste Asset Management GmbH bought a new stake in Baker Hughes during the third quarter valued at about $1,004,000. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Baker Hughes in the third quarter valued at about $416,000. 92.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on BKR. Wells Fargo & Company increased their target price on Baker Hughes from $49.00 to $54.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Susquehanna raised their price objective on shares of Baker Hughes from $53.00 to $55.00 and gave the stock a "positive" rating in a research note on Monday, February 3rd. TD Cowen dropped their target price on shares of Baker Hughes from $53.00 to $51.00 and set a "buy" rating on the stock in a research report on Wednesday, January 8th. Jefferies Financial Group increased their price target on shares of Baker Hughes from $48.00 to $50.00 and gave the company a "buy" rating in a report on Friday, January 3rd. Finally, Atb Cap Markets downgraded shares of Baker Hughes from a "strong-buy" rating to a "hold" rating in a report on Tuesday, December 10th. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $51.00.

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Baker Hughes Price Performance

Shares of NASDAQ BKR traded down $5.45 during midday trading on Friday, reaching $35.41. 20,972,174 shares of the company traded hands, compared to its average volume of 6,692,906. Baker Hughes has a 12 month low of $30.93 and a 12 month high of $49.40. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.32. The stock's 50-day simple moving average is $44.40 and its 200-day simple moving average is $42.02. The firm has a market cap of $35.06 billion, a PE ratio of 11.88, a PEG ratio of 2.00 and a beta of 1.08.

Baker Hughes (NASDAQ:BKR - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.07. Baker Hughes had a net margin of 10.70% and a return on equity of 14.58%. As a group, equities analysts anticipate that Baker Hughes will post 2.59 earnings per share for the current fiscal year.

Baker Hughes Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Tuesday, February 11th were given a dividend of $0.23 per share. The ex-dividend date was Tuesday, February 11th. This is a positive change from Baker Hughes's previous quarterly dividend of $0.21. This represents a $0.92 dividend on an annualized basis and a yield of 2.60%. Baker Hughes's dividend payout ratio is 30.87%.

Insider Activity at Baker Hughes

In other Baker Hughes news, EVP Maria C. Borras sold 8,000 shares of the stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $44.77, for a total transaction of $358,160.00. Following the sale, the executive vice president now owns 173,302 shares of the company's stock, valued at $7,758,730.54. This represents a 4.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.25% of the company's stock.

Baker Hughes Company Profile

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. The company operates through Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides related services, including exploration, appraisal, development, production, rejuvenation, and decommissioning for onshore and offshore oilfield operations.