Doyle Wealth Management lowered its stake in Southern Company (The) (NYSE:SO) by 0.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 77,417 shares of the utilities provider’s stock after selling 534 shares during the period. Doyle Wealth Management’s holdings in Southern Company (The) were worth $3,707,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Macquarie Group Ltd. raised its stake in Southern Company (The) by 0.6% in the fourth quarter. Macquarie Group Ltd. now owns 312,800 shares of the utilities provider’s stock valued at $15,387,000 after buying an additional 1,900 shares during the last quarter. Forte Capital LLC ADV raised its stake in Southern Company (The) by 5.9% in the first quarter. Forte Capital LLC ADV now owns 11,785 shares of the utilities provider’s stock valued at $587,000 after buying an additional 655 shares during the last quarter. Sheets Smith Wealth Management raised its stake in Southern Company (The) by 1.1% in the first quarter. Sheets Smith Wealth Management now owns 11,650 shares of the utilities provider’s stock valued at $580,000 after buying an additional 128 shares during the last quarter. Chesley Taft & Associates LLC raised its stake in Southern Company (The) by 6.8% in the first quarter. Chesley Taft & Associates LLC now owns 10,940 shares of the utilities provider’s stock valued at $545,000 after buying an additional 700 shares during the last quarter. Finally, Gulf International Bank UK Ltd raised its stake in Southern Company (The) by 1.2% in the first quarter. Gulf International Bank UK Ltd now owns 305,652 shares of the utilities provider’s stock valued at $15,215,000 after buying an additional 3,700 shares during the last quarter. Institutional investors and hedge funds own 53.57% of the company’s stock.

Shares of Southern Company (SO) traded down 0.275% during mid-day trading on Wednesday, reaching $48.985. The company’s stock had a trading volume of 2,002,051 shares. Southern Company has a 1-year low of $46.20 and a 1-year high of $53.73. The firm’s 50 day moving average price is $48.43 and its 200-day moving average price is $49.48. The company has a market capitalization of $48.96 billion, a price-to-earnings ratio of 80.567 and a beta of 0.12.

Southern Company (The) (NYSE:SO) last issued its earnings results on Wednesday, August 2nd. The utilities provider reported $0.73 EPS for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.02. Southern Company (The) had a net margin of 2.93% and a return on equity of 11.30%. The business had revenue of $5.43 billion for the quarter, compared to the consensus estimate of $5.23 billion. During the same quarter last year, the firm posted $0.74 EPS. The business’s revenue for the quarter was up 21.7% compared to the same quarter last year. On average, analysts predict that Southern Company will post $2.95 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 6th. Stockholders of record on Monday, August 21st will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 4.72%. The ex-dividend date is Thursday, August 17th. Southern Company (The)’s dividend payout ratio is presently 346.27%.

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SO has been the topic of several analyst reports. Deutsche Bank AG reduced their price target on shares of Southern Company (The) from $52.00 to $50.00 and set a “hold” rating on the stock in a research report on Tuesday, April 11th. Jefferies Group LLC reaffirmed a “buy” rating and set a $56.00 price target on shares of Southern Company (The) in a research report on Wednesday, April 12th. Mizuho reaffirmed a “neutral” rating and set a $49.50 price target on shares of Southern Company (The) in a research report on Wednesday, April 19th. Barclays PLC reaffirmed an “overweight” rating and set a $56.00 price target (up previously from $53.00) on shares of Southern Company (The) in a research report on Sunday, April 23rd. Finally, Zacks Investment Research lowered shares of Southern Company (The) from a “hold” rating to a “sell” rating in a research report on Tuesday, April 25th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $48.87.

In other news, EVP Christopher C. Womack sold 75,144 shares of the firm’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $49.29, for a total value of $3,703,847.76. Following the transaction, the executive vice president now owns 85,298 shares of the company’s stock, valued at approximately $4,204,338.42. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Art P. Beattie sold 46,940 shares of the firm’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $51.50, for a total transaction of $2,417,410.00. Following the completion of the transaction, the insider now directly owns 59,493 shares in the company, valued at approximately $3,063,889.50. The disclosure for this sale can be found here. In the last three months, insiders sold 152,084 shares of company stock worth $7,665,158. Insiders own 0.74% of the company’s stock.

About Southern Company (The)

The Southern Company (Southern Company) is a holding company. The Company owns all of the stock of the traditional electric operating companies and the parent entities of Southern Power Company (Southern Power) and Southern Company Gas, and owns other direct and indirect subsidiaries. The Company’s segments include Gas distribution operations, Gas marketing services, Wholesale gas services, Gas midstream operations and All other.

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Institutional Ownership by Quarter for Southern Company (The) (NYSE:SO)

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