E&G Advisors LP purchased a new stake in shares of LogMeIn Inc (NASDAQ:LOGM) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,700 shares of the software maker’s stock, valued at approximately $309,000.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Franklin Resources Inc. raised its stake in LogMeIn by 29.4% during the second quarter. Franklin Resources Inc. now owns 99,780 shares of the software maker’s stock worth $10,427,000 after purchasing an additional 22,675 shares during the period. Amalgamated Bank increased its position in shares of LogMeIn by 46.0% during the second quarter. Amalgamated Bank now owns 10,440 shares of the software maker’s stock valued at $1,091,000 after acquiring an additional 3,287 shares during the last quarter. BT Investment Management Ltd acquired a new stake in shares of LogMeIn during the second quarter valued at about $658,000. PNC Financial Services Group Inc. increased its position in shares of LogMeIn by 1.3% during the second quarter. PNC Financial Services Group Inc. now owns 26,016 shares of the software maker’s stock valued at $2,718,000 after acquiring an additional 346 shares during the last quarter. Finally, Thrivent Financial For Lutherans grew its holdings in shares of LogMeIn by 7.1% in the second quarter. Thrivent Financial For Lutherans now owns 10,650 shares of the software maker’s stock valued at $1,113,000 after purchasing an additional 710 shares in the last quarter. Institutional investors own 99.23% of the company’s stock.
LOGM has been the subject of a number of research reports. Zacks Investment Research cut shares of LogMeIn from a “hold” rating to a “sell” rating in a report on Wednesday, January 3rd. Cowen reiterated a “buy” rating and set a $145.00 price target on shares of LogMeIn in a report on Sunday, October 29th. Piper Jaffray Companies restated a “buy” rating and set a $170.00 price objective on shares of LogMeIn in a research report on Tuesday, October 24th. Barclays boosted their price objective on shares of LogMeIn from $132.00 to $142.00 and gave the company an “overweight” rating in a research note on Friday, October 27th. Finally, Needham & Company LLC dropped their price objective on shares of LogMeIn from $135.00 to $130.00 and set a “buy” rating on the stock in a research note on Wednesday, December 20th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the stock. LogMeIn currently has an average rating of “Buy” and an average price target of $136.52.
LogMeIn Inc (LOGM) traded up $1.15 during trading hours on Friday, reaching $122.50. 1,010,000 shares of the company’s stock were exchanged, compared to its average volume of 425,160. The stock has a market cap of $6,450.00, a price-to-earnings ratio of 1,113.64, a price-to-earnings-growth ratio of 1.75 and a beta of 1.36. LogMeIn Inc has a 52 week low of $90.35 and a 52 week high of $129.51.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Monday, February 12th will be issued a dividend of $0.30 per share. This is a positive change from LogMeIn’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a dividend yield of 0.98%. The ex-dividend date is Friday, February 9th. LogMeIn’s dividend payout ratio is presently 909.09%.
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LogMeIn Company Profile
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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