Cantor Fitzgerald L. P. acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 13,779 shares of the information services provider's stock, valued at approximately $2,608,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Optivise Advisory Services LLC boosted its holdings in Alphabet by 8.0% in the fourth quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider's stock worth $1,035,000 after purchasing an additional 403 shares during the last quarter. Community Bank N.A. boosted its position in Alphabet by 6.4% in the fourth quarter. Community Bank N.A. now owns 46,173 shares of the information services provider's stock worth $8,741,000 after purchasing an additional 2,790 shares during the last quarter. Premier Fund Managers Ltd increased its position in shares of Alphabet by 30.0% during the 4th quarter. Premier Fund Managers Ltd now owns 61,792 shares of the information services provider's stock valued at $11,816,000 after purchasing an additional 14,262 shares during the last quarter. Absolute Capital Management LLC lifted its stake in shares of Alphabet by 14.0% in the 4th quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider's stock worth $401,000 after purchasing an additional 258 shares during the period. Finally, Permanent Capital Management LP purchased a new position in shares of Alphabet in the fourth quarter worth approximately $273,000. Hedge funds and other institutional investors own 40.03% of the company's stock.
Analyst Ratings Changes
A number of brokerages have commented on GOOGL. Royal Bank of Canada reaffirmed an "outperform" rating and set a $200.00 target price on shares of Alphabet in a report on Wednesday, April 23rd. Westpark Capital reiterated a "buy" rating and set a $210.00 target price on shares of Alphabet in a research report on Thursday. Morgan Stanley lowered their price objective on Alphabet from $210.00 to $185.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Sanford C. Bernstein increased their target price on shares of Alphabet from $165.00 to $185.00 and gave the stock a "market perform" rating in a report on Friday, April 25th. Finally, DA Davidson dropped their price target on shares of Alphabet from $200.00 to $160.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Ten analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, Alphabet has a consensus rating of "Moderate Buy" and an average target price of $199.75.
Check Out Our Latest Research Report on GOOGL
Alphabet Stock Down 1.1 %
Shares of GOOGL traded down $1.72 during midday trading on Friday, reaching $152.56. 23,081,994 shares of the stock were exchanged, compared to its average volume of 28,695,463. The company has a market capitalization of $1.85 trillion, a P/E ratio of 18.95, a PEG ratio of 1.34 and a beta of 1.01. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05. The company's 50 day moving average is $159.29 and its two-hundred day moving average is $175.18.
Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating the consensus estimate of $2.02 by $0.79. The business had revenue of $76.49 billion during 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 quarter in the previous year, the business posted $1.89 EPS. On average, sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.
Alphabet Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.55%. The ex-dividend date is Monday, June 9th. This is a positive change from Alphabet's previous quarterly dividend of $0.20. Alphabet's payout ratio is 9.36%.
Insiders Place Their Bets
In related news, CAO Amie Thuener O'toole sold 673 shares of the business'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 transaction, the chief accounting officer now directly owns 15,303 shares in the company, valued at $2,377,014.99. The trade was a 4.21 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider John Kent Walker sold 17,690 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $185.51, for a total value of $3,281,671.90. Following the completion of the sale, the insider now owns 43,111 shares of the company's stock, 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. Over the last ninety days, insiders sold 146,824 shares of company stock worth $25,086,603. 11.64% of the stock is owned by corporate insiders.
About Alphabet
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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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