Global Wealth Management Investment Advisory Inc. Acquires 181 Shares of Costco Wholesale Co. (NASDAQ:COST)

Global Wealth Management Investment Advisory Inc. raised its stake in shares of Costco Wholesale Co. (NASDAQ:COST) by 5.9% during the 4th quarter, HoldingsChannel reports. The firm owned 3,256 shares of the retailer’s stock after purchasing an additional 181 shares during the quarter. Global Wealth Management Investment Advisory Inc.’s holdings in Costco Wholesale were worth $2,984,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in COST. AMF Tjanstepension AB acquired a new position in Costco Wholesale during the third quarter valued at approximately $42,896,000. Armstrong Advisory Group Inc. grew its stake in shares of Costco Wholesale by 14.2% in the third quarter. Armstrong Advisory Group Inc. now owns 1,004 shares of the retailer’s stock worth $890,000 after acquiring an additional 125 shares during the last quarter. Affiance Financial LLC grew its stake in shares of Costco Wholesale by 12.0% in the third quarter. Affiance Financial LLC now owns 651 shares of the retailer’s stock worth $578,000 after acquiring an additional 70 shares during the last quarter. Thomasville National Bank grew its stake in shares of Costco Wholesale by 12.7% in the third quarter. Thomasville National Bank now owns 816 shares of the retailer’s stock worth $723,000 after acquiring an additional 92 shares during the last quarter. Finally, VitalStone Financial LLC acquired a new stake in shares of Costco Wholesale in the third quarter worth $71,000. Institutional investors and hedge funds own 68.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Truist Financial raised their price objective on shares of Costco Wholesale from $909.00 to $935.00 and gave the stock a “hold” rating in a research note on Friday, December 13th. TD Cowen lifted their price target on shares of Costco Wholesale from $975.00 to $1,090.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Barclays lifted their price target on shares of Costco Wholesale from $850.00 to $940.00 and gave the stock an “equal weight” rating in a research note on Friday, December 13th. Tigress Financial reissued a “buy” rating and set a $1,065.00 price objective on shares of Costco Wholesale in a report on Thursday, October 17th. Finally, Sanford C. Bernstein initiated coverage on Costco Wholesale in a report on Tuesday, October 22nd. They set an “outperform” rating and a $1,016.00 price objective for the company. Nine equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,021.93.

Costco Wholesale Price Performance

Costco Wholesale stock opened at $1,061.92 on Tuesday. The firm has a market capitalization of $471.39 billion, a P/E ratio of 62.36, a PEG ratio of 6.26 and a beta of 0.84. Costco Wholesale Co. has a 1 year low of $697.27 and a 1 year high of $1,063.00. The business has a 50-day moving average of $961.27 and a 200-day moving average of $915.02. The company has a current ratio of 0.98, a quick ratio of 0.43 and a debt-to-equity ratio of 0.23.

Costco Wholesale Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Friday, February 7th will be given a dividend of $1.16 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $4.64 annualized dividend and a dividend yield of 0.44%. Costco Wholesale’s payout ratio is currently 27.25%.

Costco Wholesale Company Profile

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, Mexico, Japan, the United Kingdom, Korea, Australia, Taiwan, China, Spain, France, Iceland, New Zealand, and Sweden. The company offers branded and private-label products in a range of merchandise categories.