Graham Holdings Company $GHC Shares Newly Bought by Summit Wealth Group LLC Co.

Summit Wealth Group LLC Co. acquired a new position in shares of Graham Holdings Company (NYSE:GHC) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 493 shares of the company’s stock, valued at approximately $559,000.

Other hedge funds have also recently made changes to their positions in the company. First Trust Advisors LP raised its holdings in shares of Graham by 8.9% during the first quarter. First Trust Advisors LP now owns 92,505 shares of the company’s stock worth $97,802,000 after purchasing an additional 7,582 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Graham by 43.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 15,804 shares of the company’s stock valued at $16,765,000 after purchasing an additional 4,769 shares during the last quarter. Bank of America Corp DE boosted its holdings in Graham by 11.0% in the first quarter. Bank of America Corp DE now owns 13,290 shares of the company’s stock valued at $14,051,000 after purchasing an additional 1,315 shares during the last quarter. Edgestream Partners L.P. grew its position in Graham by 9.5% during the 1st quarter. Edgestream Partners L.P. now owns 10,155 shares of the company’s stock worth $10,736,000 after purchasing an additional 883 shares during the period. Finally, Renaissance Technologies LLC grew its position in Graham by 551.4% during the 1st quarter. Renaissance Technologies LLC now owns 9,400 shares of the company’s stock worth $9,938,000 after purchasing an additional 7,957 shares during the period. 93.16% of the stock is owned by institutional investors and hedge funds.

Graham Stock Down 0.5%

Graham stock opened at $1,197.32 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.76 and a quick ratio of 1.49. The stock has a market capitalization of $5.06 billion, a PE ratio of 18.10 and a beta of 0.73. The business has a 50 day simple moving average of $1,162.83 and a 200-day simple moving average of $1,137.36. Graham Holdings Company has a 12 month low of $1,015.50 and a 12 month high of $1,262.34.

Graham (NYSE:GHC) last announced its earnings results on Thursday, October 29th. The company reported $18.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $18.36 by $0.41. The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.33 billion. Graham had a return on equity of 6.01% and a net margin of 9.66%.

Graham Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 5th. Shareholders of record on Thursday, October 15th will be issued a dividend of $1.88 per share. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $7.52 dividend on an annualized basis and a dividend yield of 0.6%. Graham’s dividend payout ratio is presently 6.61%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Weiss Ratings upgraded Graham from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Friday, September 25th. Wall Street Zen lowered Graham from a “buy” rating to a “hold” rating in a research report on Saturday. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Strong Buy”.

Graham Company Profile

Graham Holdings Company is a diversified American holding company formerly known as The Washington Post Company. The company changed its name in 2013 after the sale of the newspaper publishing business to Jeff Bezos. Today, Graham Holdings operates a portfolio of businesses across education, media, healthcare, automotive, manufacturing and other industries.

Its largest business is Kaplan, a provider of educational services, professional training and test preparation. Graham Holdings also owns Graham Media Group, which operates local television stations in several U.S.