Koch Industries Inc. lessened its holdings in shares of LogMeIn Inc (NASDAQ:LOGM) by 72.9% during the 4th quarter, Holdings Channel reports. The firm owned 3,184 shares of the software maker’s stock after selling 8,584 shares during the period. Koch Industries Inc.’s holdings in LogMeIn were worth $365,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Kings Point Capital Management lifted its stake in shares of LogMeIn by 24.3% during the fourth quarter. Kings Point Capital Management now owns 14,262 shares of the software maker’s stock valued at $1,633,000 after acquiring an additional 2,785 shares during the period. MML Investors Services LLC lifted its stake in shares of LogMeIn by 21.1% during the fourth quarter. MML Investors Services LLC now owns 3,622 shares of the software maker’s stock valued at $415,000 after acquiring an additional 630 shares during the period. Amundi Pioneer Asset Management Inc. acquired a new position in shares of LogMeIn during the fourth quarter valued at $979,000. AXA lifted its stake in shares of LogMeIn by 78.7% during the fourth quarter. AXA now owns 98,100 shares of the software maker’s stock valued at $11,233,000 after acquiring an additional 43,200 shares during the period. Finally, Alliancebernstein L.P. lifted its stake in shares of LogMeIn by 8.5% during the fourth quarter. Alliancebernstein L.P. now owns 1,309,114 shares of the software maker’s stock valued at $149,894,000 after acquiring an additional 103,056 shares during the period. 99.23% of the stock is currently owned by institutional investors and hedge funds.
LogMeIn Inc (NASDAQ:LOGM) opened at $127.75 on Tuesday. LogMeIn Inc has a one year low of $92.72 and a one year high of $134.80. The firm has a market capitalization of $6,619.42, a PE ratio of 38.03, a price-to-earnings-growth ratio of 1.80 and a beta of 1.41.
The business also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Monday, February 12th were paid a $0.30 dividend. This is a positive change from LogMeIn’s previous quarterly dividend of $0.25. The ex-dividend date was Friday, February 9th. This represents a $1.20 annualized dividend and a yield of 0.94%. LogMeIn’s dividend payout ratio is presently 67.42%.
Several brokerages have recently issued reports on LOGM. Zacks Investment Research lowered LogMeIn from a “hold” rating to a “sell” rating in a research note on Tuesday, February 27th. BidaskClub lowered LogMeIn from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 22nd. Needham & Company LLC upped their price target on LogMeIn from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Finally, Oppenheimer reaffirmed a “hold” rating on shares of LogMeIn in a research note on Wednesday, December 20th. Two analysts have rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $137.63.
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LogMeIn, Inc provides a portfolio of cloud-based service offerings, which helps people and businesses to connect to their workplace, colleagues and customers. The Company’s core cloud-based services are categorized into four business lines: Communications and Collaboration; Engagement and Support; Identity and Access, and Additional Service Offerings.
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