Capital Analysts LLC boosted its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 58.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 59,558 shares of the information services provider's stock after purchasing an additional 22,071 shares during the period. Capital Analysts LLC's holdings in Alphabet were worth $11,275,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently added to or reduced their stakes in GOOGL. Optivise Advisory Services LLC boosted its position in Alphabet by 8.0% during 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 in the last quarter. Community Bank N.A. raised its stake in shares of Alphabet by 6.4% during the 4th quarter. Community Bank N.A. now owns 46,173 shares of the information services provider's stock worth $8,741,000 after buying an additional 2,790 shares during the last quarter. Premier Fund Managers Ltd boosted its position in shares of Alphabet by 30.0% in the 4th quarter. Premier Fund Managers Ltd now owns 61,792 shares of the information services provider's stock worth $11,816,000 after buying an additional 14,262 shares in the last quarter. Absolute Capital Management LLC grew its stake in Alphabet by 14.0% in the 4th quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider's stock valued at $401,000 after acquiring an additional 258 shares during the last quarter. Finally, Permanent Capital Management LP acquired a new position in Alphabet during the fourth quarter worth about $273,000. Hedge funds and other institutional investors own 40.03% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts have recently weighed in on GOOGL shares. Oppenheimer boosted their price target on Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a report on Friday, April 25th. Citigroup upped their target price on shares of Alphabet from $195.00 to $200.00 and gave the company a "buy" rating in a report on Friday, April 25th. JPMorgan Chase & Co. lowered their price target on shares of Alphabet from $220.00 to $180.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Westpark Capital raised shares of Alphabet to a "strong-buy" rating in a research note on Tuesday, April 1st. Finally, Morgan Stanley reduced their price target on Alphabet from $210.00 to $185.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Ten 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $198.89.
Read Our Latest Research Report on GOOGL
Alphabet Stock Down 2.0 %
Shares of NASDAQ:GOOGL traded down $3.25 during midday trading on Wednesday, hitting $156.91. 11,853,626 shares of the stock were exchanged, compared to its average volume of 28,158,896. The business's fifty day simple moving average is $161.20 and its two-hundred day simple moving average is $175.49. 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 52-week low of $140.53 and a 52-week high of $207.05. The company has a market capitalization of $1.91 trillion, a PE ratio of 19.49, a P/E/G ratio of 1.34 and a beta of 1.03.
Alphabet (NASDAQ:GOOGL - Get Free Report) last announced 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. The business had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. During the same period in the previous year, the company earned $1.89 EPS. As a group, research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
Alphabet Increases Dividend
The firm 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. The ex-dividend date of this dividend is Monday, June 9th. 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 yield of 0.54%. Alphabet's payout ratio is 9.36%.
Insider Transactions at Alphabet
In other Alphabet news, Director Kavitark Ram Shriram sold 29,066 shares of the firm's stock in a transaction on 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 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 document filed with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O'toole sold 1,340 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total value of $270,787.20. Following the sale, the chief accounting officer now owns 17,848 shares in the company, valued at approximately $3,606,723.84. This represents a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 148,163 shares of company stock worth $25,361,647 in the last 90 days. 11.55% of the stock is owned by insiders.
About Alphabet
(
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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