ABLE Financial Group LLC Sells 20 Shares of Costco Wholesale Co. (NASDAQ:COST)

ABLE Financial Group LLC decreased its holdings in Costco Wholesale Co. (NASDAQ:COST) by 0.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 3,985 shares of the retailer’s stock after selling 20 shares during the period. Costco Wholesale makes up 1.1% of ABLE Financial Group LLC’s portfolio, making the stock its 25th largest holding. ABLE Financial Group LLC’s holdings in Costco Wholesale were worth $3,533,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Financial Connections Group Inc. lifted its position in shares of Costco Wholesale by 557.1% in the second quarter. Financial Connections Group Inc. now owns 46 shares of the retailer’s stock valued at $39,000 after acquiring an additional 39 shares in the last quarter. Bank & Trust Co bought a new position in Costco Wholesale during the 2nd quarter valued at about $48,000. Ruedi Wealth Management Inc. lifted its stake in shares of Costco Wholesale by 73.5% during the 2nd quarter. Ruedi Wealth Management Inc. now owns 59 shares of the retailer’s stock worth $50,000 after acquiring an additional 25 shares during the last quarter. Summit Securities Group LLC purchased a new stake in shares of Costco Wholesale during the second quarter valued at $50,000. Finally, Fairway Wealth LLC grew its stake in Costco Wholesale by 230.0% in the 2nd quarter. Fairway Wealth LLC now owns 66 shares of the retailer’s stock worth $56,000 after acquiring an additional 46 shares in the last quarter. Institutional investors own 68.48% of the company’s stock.

Costco Wholesale Stock Up 1.8 %

COST stock traded up $16.53 during midday trading on Friday, hitting $930.46. 716,838 shares of the company’s stock were exchanged, compared to its average volume of 1,917,361. The stock has a market capitalization of $412.26 billion, a price-to-earnings ratio of 56.04, a price-to-earnings-growth ratio of 5.45 and a beta of 0.80. Costco Wholesale Co. has a 12-month low of $562.01 and a 12-month high of $932.16. The firm has a 50 day moving average price of $891.92 and a 200-day moving average price of $848.69. The company has a current ratio of 0.97, a quick ratio of 0.44 and a debt-to-equity ratio of 0.25.

Costco Wholesale (NASDAQ:COST) last released its quarterly earnings results on Thursday, September 26th. The retailer reported $5.15 EPS for the quarter, topping the consensus estimate of $5.05 by $0.10. Costco Wholesale had a net margin of 2.90% and a return on equity of 31.05%. The business had revenue of $79.70 billion during the quarter, compared to analyst estimates of $79.91 billion. During the same quarter in the prior year, the firm earned $4.86 earnings per share. The company’s quarterly revenue was up 1.0% on a year-over-year basis. On average, analysts anticipate that Costco Wholesale Co. will post 17.75 EPS for the current year.

Costco Wholesale Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 1st will be issued a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a dividend yield of 0.50%. The ex-dividend date is Friday, November 1st. Costco Wholesale’s dividend payout ratio is 28.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. BMO Capital Markets reaffirmed an “outperform” rating and issued a $980.00 price target (up previously from $950.00) on shares of Costco Wholesale in a research report on Friday, September 27th. Gordon Haskett raised Costco Wholesale from an “accumulate” rating to a “buy” rating and set a $925.00 price target for the company in a research report on Thursday, August 8th. Sanford C. Bernstein assumed coverage on Costco Wholesale in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $1,016.00 price target on the stock. Oppenheimer upped their price objective on shares of Costco Wholesale from $955.00 to $980.00 and gave the stock an “outperform” rating in a research report on Thursday, October 10th. Finally, Bank of America lifted their price target on shares of Costco Wholesale from $874.00 to $962.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Ten equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, Costco Wholesale has a consensus rating of “Moderate Buy” and a consensus target price of $905.30.

Insider Transactions at Costco Wholesale

In other news, EVP Pierre Riel sold 2,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $896.71, for a total value of $1,793,420.00. Following the completion of the sale, the executive vice president now directly owns 10,210 shares of the company’s stock, valued at $9,155,409.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Costco Wholesale news, EVP Richard A. Galanti sold 500 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $874.05, for a total value of $437,025.00. Following the sale, the executive vice president now owns 22,900 shares of the company’s stock, valued at $20,015,745. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Pierre Riel sold 2,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $896.71, for a total transaction of $1,793,420.00. Following the completion of the sale, the executive vice president now directly owns 10,210 shares in the company, valued at approximately $9,155,409.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,636 shares of company stock valued at $11,238,510 over the last ninety days. Corporate insiders own 0.18% of the company’s stock.

About Costco Wholesale

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.