5th Street Advisors LLC acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 4,100 shares of the information services provider's stock, valued at approximately $634,000.
Several other large investors have also modified their holdings of the stock. Generation Investment Management LLP lifted its holdings in shares of Alphabet by 23.3% during the 1st quarter. Generation Investment Management LLP now owns 3,881,774 shares of the information services provider's stock worth $600,278,000 after acquiring an additional 732,631 shares during the period. Promethium Advisors LLC lifted its holdings in shares of Alphabet by 30.4% during the 1st quarter. Promethium Advisors LLC now owns 24,812 shares of the information services provider's stock worth $3,837,000 after acquiring an additional 5,780 shares during the period. Paragon Private Wealth Management LLC lifted its holdings in shares of Alphabet by 8.3% during the 1st quarter. Paragon Private Wealth Management LLC now owns 30,338 shares of the information services provider's stock worth $4,691,000 after acquiring an additional 2,333 shares during the period. Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P. lifted its holdings in shares of Alphabet by 0.9% during the 1st quarter. Holt Capital Advisors L.L.C. dba Holt Capital Partners L.P. now owns 30,748 shares of the information services provider's stock worth $4,755,000 after acquiring an additional 274 shares during the period. Finally, Federation des caisses Desjardins du Quebec lifted its holdings in shares of Alphabet by 18.5% during the 1st quarter. Federation des caisses Desjardins du Quebec now owns 1,494,352 shares of the information services provider's stock worth $231,124,000 after acquiring an additional 233,371 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In other news, Director Kavitark Ram Shriram sold 15,000 shares of Alphabet 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 $2,786,400.00. Following the sale, the director owned 240,400 shares in the company, valued at $44,656,704. This trade represents a 5.87% decrease in their ownership of the stock. The transaction 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 shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the sale, the insider owned 42,999 shares in the company, valued at $8,371,905.30. This represents a 35.65% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 254,710 shares of company stock worth $47,225,230. Company insiders own 11.55% of the company's stock.
Alphabet Trading Up 0.6%
GOOGL opened at $212.91 on Tuesday. The firm has a market capitalization of $2.57 trillion, a P/E ratio of 22.67, a P/E/G ratio of 1.43 and a beta of 1.01. The firm's 50 day moving average is $191.39 and its 200-day moving average is $174.16. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $214.65. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.
Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. The company had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.
Alphabet Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be paid a dividend of $0.21 per share. The ex-dividend date is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. Alphabet's dividend payout ratio (DPR) is currently 8.95%.
Analysts Set New Price Targets
GOOGL has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Alphabet from $200.00 to $232.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. DA Davidson raised their price target on shares of Alphabet from $160.00 to $180.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Susquehanna raised their price target on shares of Alphabet from $220.00 to $225.00 and gave the company a "positive" rating in a report on Thursday, July 24th. Barclays raised their price target on shares of Alphabet from $220.00 to $235.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Finally, Rosenblatt Securities raised their price target on shares of Alphabet from $189.00 to $191.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, Alphabet currently has an average rating of "Moderate Buy" and an average price target of $211.53.
Read Our Latest Stock Analysis on GOOGL
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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