Harraden Circle Investments LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,458 shares of the information services provider's stock, valued at approximately $276,000. Alphabet comprises approximately 0.3% of Harraden Circle Investments LLC's portfolio, making the stock its 27th biggest position.
Other hedge funds and other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in shares of Alphabet by 7.7% during the third quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider's stock valued at $10,559,240,000 after buying an additional 4,567,275 shares during the period. Wealth Group Ltd. grew its holdings in Alphabet by 5.2% during the 4th quarter. Wealth Group Ltd. now owns 1,582 shares of the information services provider's stock worth $299,000 after acquiring an additional 78 shares in the last quarter. Capital & Planning LLC increased its position in Alphabet by 34.3% during the 4th quarter. Capital & Planning LLC now owns 4,383 shares of the information services provider's stock valued at $830,000 after purchasing an additional 1,119 shares during the period. ForthRight Wealth Management LLC bought a new stake in shares of Alphabet in the 4th quarter valued at about $226,000. Finally, Phoenix Wealth Advisors raised its holdings in shares of Alphabet by 21.7% in the 4th quarter. Phoenix Wealth Advisors now owns 3,578 shares of the information services provider's stock valued at $677,000 after purchasing an additional 639 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.
Alphabet Stock Performance
Shares of GOOGL stock traded down $2.13 during trading hours on Friday, hitting $169.73. The company's stock had a trading volume of 50,928,121 shares, compared to its average volume of 29,945,787. The stock has a market cap of $2.06 trillion, a PE ratio of 21.08, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05. The company has a 50 day moving average of $159.12 and a 200 day moving average of $174.68. 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 (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 company 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 prior year, the company earned $1.89 earnings per share. On average, sell-side analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal 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 issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.49%. This is a positive change from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. Alphabet's dividend payout ratio (DPR) is 9.36%.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on the stock. BMO Capital Markets reiterated an "outperform" rating and set a $200.00 price objective (down from $230.00) on shares of Alphabet in a research note on Thursday, April 17th. Jefferies Financial Group dropped their target price on Alphabet from $235.00 to $200.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Royal Bank of Canada reiterated an "outperform" rating and issued a $200.00 price target on shares of Alphabet in a report on Wednesday, April 23rd. Truist Financial cut their target price on Alphabet from $220.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Finally, Piper Sandler boosted their target price on shares of Alphabet from $185.00 to $195.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. Ten analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $199.75.
Read Our Latest Analysis on GOOGL
Insider Buying and Selling
In related news, Director John L. Hennessy sold 600 shares of the stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $105,000.00. Following the sale, the director now directly 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O'toole sold 673 shares of the company's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total transaction of $104,537.09. Following the completion of the transaction, the chief accounting officer now owns 15,303 shares of the company's stock, valued at approximately $2,377,014.99. This trade represents a 4.21% decrease in their position. 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 ninety days. Company insiders own 11.55% of the company's stock.
Alphabet Company Profile
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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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