Members Wealth LLC purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 6,276 shares of the information services provider's stock, valued at approximately $1,164,000.
Several other hedge funds have also added to or reduced their stakes in the company. Cassaday & Co Wealth Management LLC raised its holdings in Alphabet by 9.3% in the 4th quarter. Cassaday & Co Wealth Management LLC now owns 28,044 shares of the information services provider's stock valued at $5,341,000 after acquiring an additional 2,390 shares in the last quarter. LaFleur & Godfrey LLC raised its holdings in Alphabet by 1.2% in the 4th quarter. LaFleur & Godfrey LLC now owns 31,967 shares of the information services provider's stock valued at $6,088,000 after acquiring an additional 380 shares in the last quarter. Brighton Jones LLC raised its holdings in Alphabet by 5.6% in the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider's stock valued at $22,901,000 after acquiring an additional 6,410 shares in the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of Alphabet by 1.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 6,609 shares of the information services provider's stock worth $1,259,000 after buying an additional 98 shares in the last quarter. Finally, AM Investment Strategies LLC raised its holdings in shares of Alphabet by 0.3% during the 4th quarter. AM Investment Strategies LLC now owns 84,299 shares of the information services provider's stock worth $16,054,000 after buying an additional 218 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
GOOG has been the subject of a number of research analyst reports. Rosenblatt Securities raised Alphabet from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. Citigroup reissued a "sell" rating on shares of Alphabet in a report on Wednesday, April 23rd. Cantor Fitzgerald reissued a "neutral" rating and set a $171.00 price target on shares of Alphabet in a report on Friday, April 25th. Needham & Company LLC cut Alphabet from a "buy" rating to a "cautious" rating in a report on Friday, May 2nd. Finally, Westpark Capital reissued a "buy" rating and set a $210.00 price target on shares of Alphabet in a report on Friday, April 25th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat.com, Alphabet presently has an average rating of "Moderate Buy" and a consensus price target of $203.94.
View Our Latest Stock Report on GOOG
Alphabet Trading Down 1.2%
Shares of NASDAQ GOOG traded down $2.09 during trading on Friday, reaching $170.87. The company had a trading volume of 36,230,934 shares, compared to its average volume of 20,270,754. The company's fifty day moving average price is $160.88 and its 200-day moving average price is $176.30. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $208.70. The stock has a market cap of $2.07 trillion, a P/E ratio of 21.23, a PEG ratio of 1.34 and a beta of 1.01. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.
Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The firm had revenue of $90.23 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same quarter in the previous year, the company posted $1.89 EPS. The business's revenue was up 12.0% on a year-over-year basis. As a group, research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.
Alphabet Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.49%. This is an increase from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. Alphabet's payout ratio is currently 9.36%.
Insider Activity
In other news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the transaction, the chief executive officer now directly owns 2,717,696 shares of the company's stock, valued at $430,917,877.76. The trade was a 1.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O'toole sold 1,374 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $173.47, for a total value of $238,347.78. Following the completion of the transaction, the chief accounting officer now directly owns 15,024 shares in the company, valued at $2,606,213.28. This represents a 8.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 164,533 shares of company stock valued at $26,772,774 in the last ninety days. 12.99% of the stock is owned by company 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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