Global Wealth Management Investment Advisory Inc. Sells 10,966 Shares of The Southern Company (NYSE:SO)

Global Wealth Management Investment Advisory Inc. trimmed its position in The Southern Company (NYSE:SO - Free Report) by 17.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 52,299 shares of the utilities provider's stock after selling 10,966 shares during the quarter. Global Wealth Management Investment Advisory Inc.'s holdings in Southern were worth $4,716,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Central Pacific Bank Trust Division acquired a new position in Southern in the first quarter valued at approximately $39,000. Cedar Wealth Management LLC grew its stake in Southern by 63.2% during the 1st quarter. Cedar Wealth Management LLC now owns 545 shares of the utilities provider's stock worth $39,000 after buying an additional 211 shares during the last quarter. TruNorth Capital Management LLC acquired a new stake in Southern in the second quarter worth $39,000. Versant Capital Management Inc lifted its stake in Southern by 31.8% in the second quarter. Versant Capital Management Inc now owns 585 shares of the utilities provider's stock valued at $45,000 after buying an additional 141 shares during the last quarter. Finally, West Branch Capital LLC boosted its holdings in shares of Southern by 34.7% during the third quarter. West Branch Capital LLC now owns 501 shares of the utilities provider's stock valued at $45,000 after acquiring an additional 129 shares during the period. 64.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Morgan Stanley lifted their price objective on shares of Southern from $78.00 to $82.00 and gave the company an "equal weight" rating in a research report on Wednesday, September 25th. The Goldman Sachs Group lifted their price target on Southern from $83.00 to $94.00 and gave the company a "buy" rating in a report on Friday, August 2nd. Mizuho lowered Southern from an "outperform" rating to a "neutral" rating and set a $90.00 price objective for the company. in a report on Monday, September 16th. Jefferies Financial Group started coverage on Southern in a research note on Friday, September 20th. They set a "hold" rating and a $94.00 target price on the stock. Finally, Barclays increased their price target on Southern from $71.00 to $83.00 and gave the stock an "equal weight" rating in a research note on Tuesday, October 15th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $89.27.

Insiders Place Their Bets

In related news, EVP Bryan D. Anderson sold 6,565 shares of the company's stock in a transaction on Friday, September 6th. The stock was sold at an average price of $89.54, for a total transaction of $587,830.10. Following the transaction, the executive vice president now directly owns 44,467 shares of the company's stock, valued at approximately $3,981,575.18. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Bryan D. Anderson sold 6,565 shares of the firm's stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $89.54, for a total transaction of $587,830.10. Following the completion of the sale, the executive vice president now directly owns 44,467 shares in the company, valued at approximately $3,981,575.18. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO James Y. Kerr II sold 30,000 shares of the stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $89.64, for a total transaction of $2,689,200.00. Following the completion of the sale, the chief executive officer now owns 145,088 shares of the company's stock, valued at approximately $13,005,688.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company's stock.

Southern Price Performance

Southern stock traded up $0.59 during mid-day trading on Tuesday, hitting $88.71. The company's stock had a trading volume of 4,437,260 shares, compared to its average volume of 4,463,114. The Southern Company has a twelve month low of $65.80 and a twelve month high of $94.45. The stock's fifty day moving average price is $89.83 and its two-hundred day moving average price is $83.59. The stock has a market capitalization of $97.00 billion, a P/E ratio of 20.63, a P/E/G ratio of 3.15 and a beta of 0.52. The company has a quick ratio of 0.66, a current ratio of 0.91 and a debt-to-equity ratio of 1.66.

Southern (NYSE:SO - Get Free Report) last announced its earnings results on Thursday, October 31st. The utilities provider reported $1.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.33 by $0.10. The company had revenue of $7.27 billion for the quarter, compared to analyst estimates of $7.14 billion. Southern had a return on equity of 12.78% and a net margin of 17.87%. Southern's revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.42 earnings per share. Research analysts forecast that The Southern Company will post 4.04 earnings per share for the current year.

Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Monday, November 18th will be paid a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date of this dividend is Monday, November 18th. Southern's dividend payout ratio is 66.98%.

About Southern

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. The company also develops, constructs, acquires, owns, and manages power generation assets, including renewable energy projects and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, and Tennessee, as well as provides gas marketing services, gas distribution operations, and gas pipeline investments operations.