Barrier Capital Management LLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 53.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 104,263 shares of the information services provider's stock after purchasing an additional 36,328 shares during the period. Alphabet accounts for approximately 15.9% of Barrier Capital Management LLC's holdings, making the stock its biggest position. Barrier Capital Management LLC's holdings in Alphabet were worth $19,737,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Bennett Selby Investments LP grew its stake in shares of Alphabet by 4.0% during the fourth quarter. Bennett Selby Investments LP now owns 1,354 shares of the information services provider's stock worth $256,000 after purchasing an additional 52 shares during the period. Macroview Investment Management LLC grew its position in shares of Alphabet by 4.2% during the 4th quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider's stock worth $245,000 after buying an additional 52 shares during the period. Conrad Siegel Investment Advisors Inc. increased its stake in shares of Alphabet by 0.5% in the 4th quarter. Conrad Siegel Investment Advisors Inc. now owns 9,845 shares of the information services provider's stock valued at $1,864,000 after acquiring an additional 53 shares during the last quarter. Cornerstone Planning Group LLC raised its position in shares of Alphabet by 2.3% in the 4th quarter. Cornerstone Planning Group LLC now owns 2,381 shares of the information services provider's stock valued at $457,000 after acquiring an additional 53 shares during the period. Finally, Addison Advisors LLC boosted its stake in Alphabet by 0.7% during the 4th quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider's stock worth $1,425,000 after acquiring an additional 53 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.
Alphabet Price Performance
Shares of NASDAQ GOOGL traded up $0.18 during trading hours on Monday, hitting $164.21. 21,320,782 shares of the stock were exchanged, compared to its average volume of 28,166,019. The company's fifty day simple moving average is $160.02 and its two-hundred day simple moving average is $175.50. The company has a market cap of $1.99 trillion, a PE ratio of 20.40, a price-to-earnings-growth 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. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05.
Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating 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 company had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same quarter last year, the company posted $1.89 EPS. On average, sell-side analysts predict 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. Stockholders of record on Monday, June 9th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.51%. This is a boost from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio is 9.36%.
Insider Activity
In related news, Director Kavitark Ram Shriram sold 29,066 shares of Alphabet stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $184.89, for a total transaction of $5,374,012.74. Following the sale, the director now directly owns 272,466 shares in the company, valued at $50,376,238.74. This trade represents a 9.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The stock was 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 directly owns 2,717,696 shares in the company, valued at $430,917,877.76. The trade was a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 146,824 shares of company stock worth $25,086,603. Corporate insiders own 11.55% of the company's stock.
Analysts Set New Price Targets
Several brokerages have commented on GOOGL. Needham & Company LLC reaffirmed a "buy" rating and issued a $178.00 target price on shares of Alphabet in a research note on Friday, April 25th. Wedbush set a $190.00 price objective on shares of Alphabet and gave the company an "outperform" rating in a research report on Tuesday, April 15th. Royal Bank of Canada reiterated an "outperform" rating and set a $200.00 target price on shares of Alphabet in a report on Wednesday, April 23rd. Wells Fargo & Company boosted their target price on Alphabet from $167.00 to $175.00 and gave the company an "equal weight" rating in a research note on Friday, April 25th. Finally, Oppenheimer raised their price target on Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a research report on Friday, April 25th. Ten analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $199.46.
Read Our Latest Analysis on GOOGL
Alphabet Company 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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