Obermeyer Wealth Partners lifted its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 1.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 408,875 shares of the information services provider's stock after acquiring an additional 5,892 shares during the quarter. Alphabet makes up approximately 4.1% of Obermeyer Wealth Partners' holdings, making the stock its 6th largest holding. Obermeyer Wealth Partners' holdings in Alphabet were worth $77,866,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new stake in Alphabet in the fourth quarter valued at about $5,166,070,000. Raymond James Financial Inc. acquired a new stake in shares of Alphabet in the 4th quarter valued at approximately $1,551,533,000. Northern Trust Corp boosted its stake in Alphabet by 16.1% during the 4th quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock worth $10,873,751,000 after acquiring an additional 7,917,625 shares during the last quarter. GQG Partners LLC increased its stake in Alphabet by 181,679.1% in the fourth quarter. GQG Partners LLC now owns 7,225,721 shares of the information services provider's stock valued at $1,376,066,000 after purchasing an additional 7,221,746 shares in the last quarter. Finally, Capital International Investors boosted its position in shares of Alphabet by 6.7% during the fourth quarter. Capital International Investors now owns 91,236,069 shares of the information services provider's stock worth $17,376,706,000 after purchasing an additional 5,758,244 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In other Alphabet news, Director Kavitark Ram Shriram sold 29,066 shares of the business's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $184.89, for a total value of $5,374,012.74. Following the transaction, the director now owns 272,466 shares in the company, valued at approximately $50,376,238.74. The trade was a 9.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $155.90, for a total value of $5,066,750.00. Following the transaction, the chief executive officer now owns 2,652,696 shares of the company's stock, valued at approximately $413,555,306.40. This represents a 1.21% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 179,324 shares of company stock valued at $30,153,353. Insiders own 12.99% of the company's stock.
Alphabet Stock Performance
Alphabet stock opened at $159.58 on Tuesday. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $1.94 trillion, a PE ratio of 19.82, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The firm's 50 day simple moving average is $160.65 and its 200 day simple moving average is $176.97.
Alphabet (NASDAQ:GOOG - Get Free Report) last posted its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The business had revenue of $90.23 billion during the quarter, compared to analysts' expectations of $89.30 billion. During the same period in the previous year, the business earned $1.89 earnings per share. The firm's revenue was up 12.0% on a year-over-year basis. As a group, analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.
Alphabet Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be paid a dividend of $0.21 per share. This is a boost from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend is Monday, June 9th. Alphabet's dividend payout ratio (DPR) is 9.36%.
Analysts Set New Price Targets
A number of research firms recently issued reports on GOOG. Needham & Company LLC cut Alphabet from a "buy" rating to a "cautious" rating in a research note on Friday, May 2nd. Benchmark reissued a "negative" rating on shares of Alphabet in a research report on Wednesday, February 5th. Rosenblatt Securities raised shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. Oppenheimer boosted their price target on Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a report on Friday, April 25th. Finally, Tigress Financial restated a "strong-buy" rating on shares of Alphabet in a research note on Friday, May 2nd. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and five have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $203.94.
Read Our Latest Research Report on Alphabet
Alphabet Profile
(
Free Report)
Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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