Bartlett & CO. Wealth Management LLC has reduced its stake in Booz Allen Hamilton Holding Corporation (NYSE: BAH) by 9.4% during the second quarter of 2023. According to the firm’s most recent Form 13F filing with the Securities & Exchange Commission, Bartlett now holds 528,816 shares of the consulting firm after selling 55,171 shares in that period. This reduction leaves the firm with a 0.43% ownership of Booz Allen Hamilton, valued at approximately $55,065,000.
Other institutional investors have also adjusted their positions in Booz Allen Hamilton recently. Asset Management One Co. Ltd. increased its holdings by 10.2% in the first quarter, bringing its total to 52,889 shares, worth $5,531,000. Similarly, Alta Capital Management LLC raised its stake by 10.2%, owning now 225,636 shares valued at $23,597,000. Notably, GAMMA Investing LLC made a substantial increase of 7,839.8%, acquiring an additional 206,422 shares to reach a total of 209,055 shares valued at $21,863,000.
Other firms such as Yousif Capital Management LLC and First Command Advisory Services Inc. also expanded their stakes, with First Command increasing its position by 368.4%. Collectively, hedge funds and institutional investors own approximately 91.82% of Booz Allen Hamilton’s stock.
Current Stock Performance and Market Metrics
On August 30, 2023, Booz Allen Hamilton’s shares opened at $100.01. The company has experienced a one-year low of $96.96 and a high of $190.59. Its market capitalization stands at $12.33 billion, with a price-to-earnings ratio of 12.29 and a price-to-earnings-growth ratio of 1.56. The stock has exhibited stability, evidenced by a beta of 0.45, while maintaining a debt-to-equity ratio of 3.66.
The company announced a quarterly dividend of $0.55 per share, paid on August 29, 2023, to shareholders on record as of August 14, 2023. This equates to an annualized dividend of $2.20, yielding approximately 2.2%. The current dividend payout ratio is 27.03%.
Analyst Insights and Future Outlook
Booz Allen Hamilton has received various ratings from industry analysts. In a report dated July 21, 2023, William Blair upgraded the stock from “market perform” to “outperform.” Meanwhile, UBS Group set a price target of $119.00 while maintaining a “neutral” rating. JPMorgan Chase & Co. raised its target price from $115.00 to $122.00 but issued an “underweight” rating. Additionally, Stifel Nicolaus increased its target from $112.00 to $119.00 with a “hold” rating.
Currently, analyst ratings reflect a spectrum of opinions, with one analyst giving a “Strong Buy,” three recommending a “Buy,” six suggesting “Hold,” and two advising “Sell.” The average rating for Booz Allen Hamilton stands at “Hold,” with an average price target of $134.00, according to data from MarketBeat.com.
Booz Allen Hamilton provides a range of services including management and technology consulting, analytics, engineering, and cybersecurity solutions to various sectors, including government and not-for-profit organizations. The company’s focus includes advancements in artificial intelligence, encompassing machine learning, predictive modeling, and quantum computing.
