Pinnacle Wealth Management Advisory Group LLC Lowers Stock Holdings in Diageo plc (NYSE:DEO)

Pinnacle Wealth Management Advisory Group LLC trimmed its position in Diageo plc (NYSE:DEO) by 6.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,501 shares of the company’s stock after selling 563 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in Diageo were worth $1,081,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Copperleaf Capital LLC boosted its stake in shares of Diageo by 8.7% in the fourth quarter. Copperleaf Capital LLC now owns 7,119 shares of the company’s stock valued at $905,000 after purchasing an additional 572 shares during the period. Principal Securities Inc. grew its position in shares of Diageo by 0.9% in the 4th quarter. Principal Securities Inc. now owns 40,586 shares of the company’s stock valued at $5,160,000 after buying an additional 364 shares during the last quarter. Hickory Asset Management Inc. purchased a new position in Diageo during the 4th quarter worth approximately $414,000. Accretive Wealth Partners LLC raised its position in Diageo by 3.5% in the 4th quarter. Accretive Wealth Partners LLC now owns 7,865 shares of the company’s stock valued at $1,000,000 after purchasing an additional 263 shares during the last quarter. Finally, ABC Arbitrage SA acquired a new position in Diageo in the 4th quarter valued at about $37,777,000. 8.97% of the stock is currently owned by hedge funds and other institutional investors.

Diageo Price Performance

NYSE DEO opened at $107.45 on Monday. The company has a 50-day simple moving average of $121.08 and a 200-day simple moving average of $125.99. Diageo plc has a one year low of $105.72 and a one year high of $154.71. The company has a quick ratio of 0.55, a current ratio of 1.60 and a debt-to-equity ratio of 1.62.

Diageo Announces Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Thursday, April 24th. Stockholders of record on Friday, February 28th will be given a dividend of $1.62 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a dividend yield of 3.8%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on DEO. Jefferies Financial Group upgraded shares of Diageo from a “hold” rating to a “buy” rating in a research report on Thursday, December 5th. TD Cowen raised their target price on shares of Diageo from $124.00 to $129.00 and gave the stock a “hold” rating in a research report on Wednesday, January 8th. Finally, UBS Group raised shares of Diageo from a “sell” rating to a “buy” rating in a research note on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $129.00.

Diageo Profile

Diageo plc, together with its subsidiaries, engages in the production, marketing, and sale of alcoholic beverages. The company offers scotch, gin, vodka, rum, raki, liqueur, wine, tequila, Chinese white spirits, cachaça, and brandy, as well as beer, including cider and flavored malt beverages. It also provides Chinese, Canadian, Irish, American, and Indian-Made Foreign Liquor whiskies, as well as flavored malt beverages, ready to drink, and non-alcoholic products.