RD Finance Ltd acquired a new stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm acquired 15,050 shares of the information services provider's stock, valued at approximately $2,327,000. Alphabet comprises approximately 1.9% of RD Finance Ltd's holdings, making the stock its 11th largest holding.
Several other hedge funds and other institutional investors also recently made changes to their positions in GOOGL. FMR LLC boosted its stake in shares of Alphabet by 9.8% during the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock worth $47,025,322,000 after buying an additional 22,100,902 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Alphabet by 16,993.2% during the 1st quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider's stock worth $2,483,898,000 after acquiring an additional 15,968,487 shares during the last quarter. Northern Trust Corp raised its position in shares of Alphabet by 17.0% in the fourth quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock valued at $13,178,470,000 after purchasing an additional 10,135,430 shares during the period. Capital Research Global Investors raised its holdings in Alphabet by 16.2% in the 4th quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock valued at $13,635,878,000 after acquiring an additional 10,037,685 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in Alphabet by 15.9% during the 4th quarter. Wellington Management Group LLP now owns 66,050,135 shares of the information services provider's stock worth $12,503,291,000 after purchasing an additional 9,042,271 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.
Alphabet Stock Performance
Shares of Alphabet stock traded up $0.43 during mid-day trading on Thursday, hitting $196.52. 26,014,319 shares of the stock were exchanged, compared to its average volume of 38,764,620. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05. The company has a 50-day simple moving average of $180.26 and a 200 day simple moving average of $173.13. The company has a market capitalization of $2.38 trillion, a P/E ratio of 20.93, a P/E/G ratio of 1.33 and a beta of 1.01. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.
Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The company had revenue of $96,428,000 billion during the quarter, compared to the consensus estimate of $93.60 billion. Sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
Alphabet Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's payout ratio is 8.95%.
Wall Street Analyst Weigh In
GOOGL has been the topic of several analyst reports. Citigroup raised their price target on Alphabet from $203.00 to $225.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Susquehanna lifted their target price on Alphabet from $220.00 to $225.00 and gave the stock a "positive" rating in a report on Thursday, July 24th. Royal Bank Of Canada increased their price objective on shares of Alphabet from $200.00 to $220.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Westpark Capital boosted their price target on Alphabet from $210.00 to $220.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Finally, BMO Capital Markets raised their price objective on shares of Alphabet from $208.00 to $225.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, Alphabet currently has an average rating of "Moderate Buy" and a consensus price target of $211.53.
Check Out Our Latest Stock Analysis on GOOGL
Insider Buying and Selling
In other news, Director Kavitark Ram Shriram sold 18,566 shares of the firm's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the sale, the director owned 243,400 shares in the company, valued at $45,213,984. This trade represents a 7.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the sale, the insider directly owned 42,999 shares in the company, valued at $8,371,905.30. This trade represents a 35.65% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 273,219 shares of company stock valued at $49,474,273. 11.64% of the stock is owned by insiders.
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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