Lakeshore Capital Group Inc. acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 6,513 shares of the information services provider's stock, valued at approximately $1,233,000. Alphabet makes up approximately 1.9% of Lakeshore Capital Group Inc.'s portfolio, making the stock its 18th largest position.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. grew its holdings 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 worth $10,559,240,000 after purchasing an additional 4,567,275 shares in the last quarter. Wealth Group Ltd. grew its holdings in shares of Alphabet by 5.2% during the fourth quarter. Wealth Group Ltd. now owns 1,582 shares of the information services provider's stock worth $299,000 after purchasing an additional 78 shares in the last quarter. Capital & Planning LLC grew its holdings in shares of Alphabet by 34.3% during the fourth quarter. Capital & Planning LLC now owns 4,383 shares of the information services provider's stock worth $830,000 after purchasing an additional 1,119 shares in the last quarter. Aspiriant LLC grew its holdings in shares of Alphabet by 1.4% during the fourth quarter. Aspiriant LLC now owns 80,473 shares of the information services provider's stock worth $15,233,000 after purchasing an additional 1,104 shares in the last quarter. Finally, Solidarity Wealth LLC grew its holdings in shares of Alphabet by 3.5% during the fourth quarter. Solidarity Wealth LLC now owns 104,013 shares of the information services provider's stock worth $19,690,000 after purchasing an additional 3,516 shares in the last quarter. Institutional investors own 40.03% of the company's stock.
Insider Buying and Selling
In other Alphabet news, CAO Amie Thuener O'toole sold 1,374 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $173.47, for a total value of $238,347.78. Following the transaction, the chief accounting officer now directly owns 15,024 shares of the company's stock, valued at approximately $2,606,213.28. This trade represents a 8.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John Kent Walker sold 11,764 shares of the business's stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $166.84, for a total value of $1,962,705.76. Following the sale, the insider now directly owns 49,037 shares of the company's stock, valued at $8,181,333.08. This represents a 19.35% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 164,654 shares of company stock worth $26,793,380 in the last three months. Insiders own 11.64% of the company's stock.
Alphabet Stock Up 2.6%
GOOGL traded up $4.43 during trading on Tuesday, reaching $172.90. The stock had a trading volume of 37,917,640 shares, compared to its average volume of 29,780,742. The stock's 50 day moving average is $158.67 and its two-hundred day moving average is $174.76. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $2.10 trillion, a price-to-earnings ratio of 21.48, a P/E/G ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05.
Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating the consensus estimate 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 $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same period last year, the company earned $1.89 earnings per share. As a group, analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.
Alphabet Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.49%. This is an increase from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio (DPR) is 9.36%.
Wall Street Analyst Weigh In
Several brokerages have issued reports on GOOGL. Tigress Financial upped their target price on Alphabet from $220.00 to $240.00 and gave the stock a "strong-buy" rating in a research note on Wednesday, April 30th. Roth Mkm reaffirmed a "buy" rating and issued a $220.00 target price on shares of Alphabet in a research note on Wednesday, March 19th. DA Davidson cut their target price on Alphabet from $200.00 to $160.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. JMP Securities reaffirmed a "market perform" rating on shares of Alphabet in a research note on Wednesday, May 21st. Finally, Westpark Capital reaffirmed a "buy" rating and issued a $210.00 target price on shares of Alphabet in a research note on Thursday, May 8th. Ten equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat.com, Alphabet presently has an average rating of "Moderate Buy" and an average price target of $199.75.
Check Out Our Latest Stock Report on Alphabet
About Alphabet
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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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