Wahed Invest LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 4.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 148,618 shares of the information services provider's stock after purchasing an additional 6,524 shares during the quarter. Alphabet accounts for 4.7% of Wahed Invest LLC's investment portfolio, making the stock its 4th biggest holding. Wahed Invest LLC's holdings in Alphabet were worth $28,133,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the business. Pennington Partners & CO. LLC purchased a new stake in shares of Alphabet in the fourth quarter worth approximately $2,356,000. South Plains Financial Inc. acquired a new position in Alphabet in the 4th quarter valued at approximately $3,295,000. Cypress Advisory Group LLC purchased a new stake in Alphabet in the 4th quarter worth approximately $2,503,000. ArborFi Advisors LLC acquired a new stake in shares of Alphabet during the 4th quarter valued at $418,000. Finally, Palestra Capital Management LLC grew its holdings in shares of Alphabet by 17.8% during the 4th quarter. Palestra Capital Management LLC now owns 752,488 shares of the information services provider's stock valued at $142,446,000 after acquiring an additional 113,654 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.
Analyst Upgrades and Downgrades
GOOGL has been the subject of several recent research reports. Citigroup increased their price objective on Alphabet from $195.00 to $200.00 and gave the stock a "buy" rating in a report on Friday, April 25th. Needham & Company LLC reiterated a "buy" rating and set a $178.00 price target on shares of Alphabet in a report on Friday, April 25th. Mizuho lowered their price target on Alphabet from $230.00 to $205.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Piper Sandler raised their price objective on shares of Alphabet from $185.00 to $195.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. Finally, Roth Mkm reissued a "buy" rating and issued a $220.00 target price on shares of Alphabet in a research report on Wednesday, March 19th. Ten investment analysts have rated the stock with a hold rating, twenty-five 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 presently has an average rating of "Moderate Buy" and an average target price of $199.46.
View Our Latest Stock Report on Alphabet
Alphabet Stock Up 1.6 %
GOOGL opened at $161.30 on Friday. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. The company has a market capitalization of $1.97 trillion, a P/E ratio of 20.04, a P/E/G ratio of 1.34 and a beta of 1.03. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The firm's fifty day moving average price is $160.42 and its two-hundred day moving average price is $175.35.
Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.79. The business had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. During the same period in the previous year, the business earned $1.89 EPS. On average, analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.
Alphabet Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.52%. The ex-dividend date is Monday, June 9th. This is an increase from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio (DPR) is 9.36%.
Insider Buying and Selling at Alphabet
In other news, CAO Amie Thuener O'toole sold 1,340 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the transaction, the chief accounting officer now directly owns 17,848 shares of the company's stock, valued at $3,606,723.84. The trade was a 6.98 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Kent Walker sold 17,690 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $185.51, for a total value of $3,281,671.90. Following the sale, the insider now owns 43,111 shares in the company, valued at approximately $7,997,521.61. This trade represents a 29.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 148,164 shares of company stock worth $25,357,390 over the last three months. Company insiders own 11.55% of the company's stock.
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Alphabet, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Alphabet wasn't on the list.
While Alphabet currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
