First Manhattan CO. LLC. reduced its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 0.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,403,304 shares of the information services provider's stock after selling 14,274 shares during the quarter. Alphabet accounts for about 3.0% of First Manhattan CO. LLC.'s investment portfolio, making the stock its 5th largest holding. First Manhattan CO. LLC.'s holdings in Alphabet were worth $1,032,319,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of GOOG. Sterling Financial Planning Inc. lifted its position in shares of Alphabet by 2.6% in the fourth quarter. Sterling Financial Planning Inc. now owns 1,941 shares of the information services provider's stock worth $370,000 after buying an additional 50 shares in the last quarter. Arlington Trust Co LLC grew its holdings in Alphabet by 0.4% during the 4th quarter. Arlington Trust Co LLC now owns 14,423 shares of the information services provider's stock valued at $2,747,000 after buying an additional 52 shares in the last quarter. Harrell Investment Partners LLC raised its holdings in shares of Alphabet by 0.9% during the 4th quarter. Harrell Investment Partners LLC now owns 5,659 shares of the information services provider's stock worth $1,078,000 after acquiring an additional 53 shares in the last quarter. Ethos Financial Group LLC raised its holdings in shares of Alphabet by 0.7% during the 4th quarter. Ethos Financial Group LLC now owns 7,300 shares of the information services provider's stock worth $1,395,000 after acquiring an additional 53 shares in the last quarter. Finally, Redhawk Wealth Advisors Inc. boosted its position in shares of Alphabet by 1.1% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 5,073 shares of the information services provider's stock valued at $966,000 after acquiring an additional 54 shares during the last quarter. 27.26% of the stock is owned by institutional investors.
Alphabet Stock Down 0.9 %
GOOG traded down $1.37 on Friday, hitting $154.38. The company had a trading volume of 22,820,181 shares, compared to its average volume of 19,514,663. The stock has a market capitalization of $1.87 trillion, a price-to-earnings ratio of 19.18, a P/E/G ratio of 1.34 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The stock has a fifty day moving average price of $160.96 and a 200-day moving average price of $176.93. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70.
Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The firm had revenue of $90.23 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter in the previous year, the firm earned $1.89 EPS. The company's quarterly revenue was up 12.0% compared to the same quarter last year. Analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.
Alphabet Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend is Monday, June 9th. This is a positive change from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio is currently 9.36%.
Insider Buying and Selling
In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the sale, the chief executive officer now owns 2,717,696 shares of the company's stock, valued at approximately $430,917,877.76. The trade was a 1.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O'toole sold 673 shares of the firm's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total transaction of $104,537.09. Following the completion of the transaction, the chief accounting officer now directly owns 15,303 shares of the company's stock, valued at approximately $2,377,014.99. This represents a 4.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 179,324 shares of company stock worth $30,153,353 in the last ninety days. 12.99% of the stock is owned by insiders.
Wall Street Analyst Weigh In
GOOG has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their price target on shares of Alphabet from $180.00 to $195.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Benchmark reiterated a "negative" rating on shares of Alphabet in a research report on Wednesday, February 5th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Alphabet in a research note on Wednesday, February 5th. Needham & Company LLC downgraded Alphabet from a "buy" rating to a "cautious" rating in a research report on Friday, May 2nd. Finally, KeyCorp dropped their price objective on shares of Alphabet from $202.00 to $185.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have given a buy rating and five have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $203.94.
Check Out Our Latest 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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