Caxton Associates LLP purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 60,945 shares of the information services provider's stock, valued at approximately $9,425,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in shares of Alphabet by 3.9% in the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock valued at $20,886,000 after purchasing an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of Alphabet by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock valued at $2,826,000 after purchasing an additional 506 shares during the last quarter. Highview Capital Management LLC DE grew its stake in shares of Alphabet by 3.6% in the fourth quarter. Highview Capital Management LLC DE now owns 29,100 shares of the information services provider's stock valued at $5,509,000 after acquiring an additional 1,003 shares in the last quarter. Summit Investment Advisors Inc. grew its stake in shares of Alphabet by 3.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 137,477 shares of the information services provider's stock valued at $26,024,000 after acquiring an additional 4,762 shares in the last quarter. Finally, Forum Financial Management LP grew its stake in shares of Alphabet by 6.4% in the fourth quarter. Forum Financial Management LP now owns 79,160 shares of the information services provider's stock valued at $14,985,000 after acquiring an additional 4,756 shares in the last quarter. 40.03% of the stock is owned by institutional investors.
Alphabet Price Performance
Shares of GOOGL stock traded up $5.59 on Tuesday, reaching $239.63. The company had a trading volume of 37,672,216 shares, compared to its average volume of 34,417,184. The stock has a market capitalization of $2.90 trillion, a PE ratio of 25.52, a price-to-earnings-growth ratio of 1.57 and a beta of 1.01. 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 Inc. has a one year low of $140.53 and a one year high of $240.47. The business's 50-day moving average is $198.22 and its 200 day moving average is $176.17.
Alphabet (NASDAQ:GOOGL - Get Free Report) last issued 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. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.60 billion. Equities research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.
Alphabet Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.4%. Alphabet's dividend payout ratio (DPR) is currently 8.95%.
Insider Buying and Selling at Alphabet
In related news, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $203.79, for a total transaction of $122,274.00. Following the sale, the director directly owned 6,316 shares in the company, valued at $1,287,137.64. This trade represents a 8.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 sale, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 254,710 shares of company stock valued at $49,208,380 in the last quarter. 11.55% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on the stock. Barclays upped their price target on shares of Alphabet from $235.00 to $250.00 and gave the company an "overweight" rating in a research note on Wednesday, September 3rd. Cantor Fitzgerald upped their price target on shares of Alphabet from $196.00 to $201.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Loop Capital restated a "hold" rating and issued a $190.00 price target (up from $165.00) on shares of Alphabet in a research note on Tuesday, August 5th. Wells Fargo & Company upped their price target on shares of Alphabet from $184.00 to $187.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 29th. Finally, BMO Capital Markets increased their price objective on shares of Alphabet from $208.00 to $225.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Three analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $221.44.
Get Our Latest Report on GOOGL
Alphabet 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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