In its latest SEC filing for the third quarter, Independent Advisor Alliance disclosed a 2.1% reduction in its position in Costco Wholesale Corporation, selling 686 shares and ending the period with 32,229 shares. Those holdings represented approximately 0.8% of the fund’s total assets, making Costco its 20th largest position. At quarter end, the stake was valued at $29.83 million.

Several other hedge funds and institutional investors also made notable moves during the period. Peterson Wealth Services increased its stake by 0.5%, adding 72 shares to reach 13,616 shares valued at $13.48 million. Fishman Jay A Ltd. MI grew its position by 3.5% to 16,888 shares worth $16.72 million. Silver Oak Securities Incorporated executed the largest percentage increase, up 49.3% to 3,780 shares valued at $3.50 million. Permanent Capital Management LP initiated a new position worth $0.87 million, and Wealthspire Advisors LLC lifted its holdings by 2.0% to 15,799 shares valued at $15.64 million. Institutional ownership of Costco now stands at 68.48%.

Costco reported third-quarter revenue of $67.31 billion, up 8.3% year-over-year and ahead of analysts’ consensus of $67.03 billion. Earnings per share came in at $4.34, topping estimates by $0.07. The company delivered a net margin of 2.96% and a return on equity of 29.35%. In conjunction with these results, the board approved a quarterly dividend of $1.30 per share, payable February 13, with a record date of January 30. This raises the annualized dividend to $5.20 and yields approximately 0.6%, with a payout ratio of 27.85%.

Executive vice presidents Javier Polit and Russell D. Miller sold 558 and 1,500 shares respectively over the past quarter, reducing their combined holdings by over 20% and generating proceeds in excess of $1.85 million. Insiders now collectively own just 0.10% of the outstanding shares. On the sell-side, 21 analysts maintain buy ratings on Costco, 12 are at hold and one at sell, yielding a consensus rating of Moderate Buy and an average price target of $996.