Lighthouse Financial LLC bought a new stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 12,520 shares of the information services provider's stock, valued at approximately $2,384,000. Alphabet makes up 1.9% of Lighthouse Financial LLC's holdings, making the stock its 16th biggest position.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Sterling Financial Planning Inc. increased its holdings in shares of Alphabet by 2.6% in the 4th quarter. Sterling Financial Planning Inc. now owns 1,941 shares of the information services provider's stock valued at $370,000 after acquiring an additional 50 shares during the period. Arlington Trust Co LLC grew its stake 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 worth $2,747,000 after buying an additional 52 shares during the last quarter. Harrell Investment Partners LLC grew its stake in 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 buying an additional 53 shares during the last quarter. Ethos Financial Group LLC grew its stake in 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 buying an additional 53 shares during the last quarter. Finally, Hutchinson Capital Management CA grew its stake in Alphabet by 1.5% during the 4th quarter. Hutchinson Capital Management CA now owns 3,555 shares of the information services provider's stock worth $677,000 after buying an additional 54 shares during the last quarter. 27.26% of the stock is owned by institutional investors.
Alphabet Trading Down 1.2%
NASDAQ GOOG traded down $2.09 on Friday, hitting $170.87. 36,230,934 shares of the stock were exchanged, compared to its average volume of 20,270,754. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $208.70. 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 company has a market capitalization of $2.07 trillion, a price-to-earnings ratio of 21.23, a P/E/G ratio of 1.34 and a beta of 1.01. The company's 50-day moving average price is $160.88 and its two-hundred day moving average price is $176.30.
Alphabet (NASDAQ:GOOG - 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. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The business had revenue of $90.23 billion for the quarter, compared to analysts' expectations of $89.30 billion. During the same period in the previous year, the company posted $1.89 EPS. Alphabet's revenue was up 12.0% on a year-over-year basis. Research analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.
Alphabet Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors 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 represents a $0.84 dividend on an annualized basis and a yield of 0.49%. This is a boost from Alphabet's previous quarterly dividend of $0.20. Alphabet's payout ratio is presently 9.36%.
Insider Activity at Alphabet
In other news, insider John Kent Walker sold 11,764 shares of the business's stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $166.84, for a total value of $1,962,705.76. Following the completion of the transaction, the insider now directly owns 49,037 shares in the company, valued at approximately $8,181,333.08. The trade was a 19.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $105,000.00. Following the transaction, the director now owns 6,813 shares of the company's stock, valued at approximately $1,192,275. This represents a 8.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 164,533 shares of company stock valued at $26,772,774 over the last quarter. 12.99% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on GOOG. Needham & Company LLC downgraded Alphabet from a "buy" rating to a "cautious" rating in a research note on Friday, May 2nd. Scotiabank decreased their price objective on Alphabet from $232.00 to $200.00 and set a "sector outperform" rating for the company in a report on Monday, April 21st. Citigroup reissued a "sell" rating on shares of Alphabet in a report on Wednesday, April 23rd. Morgan Stanley reaffirmed an "overweight" rating on shares of Alphabet in a report on Wednesday, February 5th. Finally, KeyCorp reduced their price target on Alphabet from $202.00 to $185.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Three equities research 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $203.94.
Check Out Our Latest Report on Alphabet
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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