Wealth Alliance LLC Boosts Stock Position in Diageo plc $DEO

Wealth Alliance LLC boosted its holdings in shares of Diageo plc (NYSE:DEO) by 51.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,573 shares of the company’s stock after purchasing an additional 2,231 shares during the period. Wealth Alliance LLC’s holdings in Diageo were worth $663,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. BNP Paribas Financial Markets increased its stake in Diageo by 1,544.5% during the 1st quarter. BNP Paribas Financial Markets now owns 396,676 shares of the company’s stock valued at $41,568,000 after purchasing an additional 372,555 shares in the last quarter. Orbis Allan Gray Ltd purchased a new stake in Diageo during the 1st quarter valued at about $36,050,000. Confluence Investment Management LLC boosted its holdings in Diageo by 14.0% in the second quarter. Confluence Investment Management LLC now owns 1,350,826 shares of the company’s stock valued at $136,217,000 after purchasing an additional 165,839 shares during the period. Crestwood Advisors Group LLC purchased a new position in shares of Diageo during the first quarter worth about $16,944,000. Finally, Partners Capital Investment Group LLP acquired a new position in shares of Diageo during the 1st quarter worth approximately $4,161,000. 8.97% of the stock is owned by institutional investors and hedge funds.

Diageo Stock Performance

Shares of DEO traded down $1.21 during trading hours on Thursday, reaching $95.78. 180,759 shares of the company traded hands, compared to its average volume of 1,209,065. The stock has a fifty day simple moving average of $96.99 and a 200 day simple moving average of $104.02. The company has a quick ratio of 0.64, a current ratio of 1.63 and a debt-to-equity ratio of 1.64. Diageo plc has a fifty-two week low of $86.57 and a fifty-two week high of $132.34.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. The Goldman Sachs Group raised Diageo from a “sell” rating to a “neutral” rating in a research note on Thursday, August 7th. Bank of America reduced their price target on shares of Diageo from $117.00 to $109.00 and set a “buy” rating for the company in a research report on Friday, September 26th. Weiss Ratings reissued a “sell (d)” rating on shares of Diageo in a report on Wednesday, October 8th. Finally, Zacks Research cut Diageo from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $119.00.

About Diageo

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.