Aigen Investment Management LP decreased its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 58.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,382 shares of the information services provider's stock after selling 1,906 shares during the period. Aigen Investment Management LP's holdings in Alphabet were worth $216,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Cooper Financial Group lifted its position in Alphabet by 1.4% during the 1st quarter. Cooper Financial Group now owns 29,289 shares of the information services provider's stock worth $4,576,000 after acquiring an additional 410 shares during the last quarter. Aveo Capital Partners LLC lifted its position in Alphabet by 18.7% during the 1st quarter. Aveo Capital Partners LLC now owns 11,010 shares of the information services provider's stock worth $1,682,000 after acquiring an additional 1,735 shares during the last quarter. Strengthening Families & Communities LLC lifted its position in Alphabet by 3.6% during the 1st quarter. Strengthening Families & Communities LLC now owns 28,733 shares of the information services provider's stock worth $4,583,000 after acquiring an additional 989 shares during the last quarter. American Alpha Advisors LLC acquired a new position in Alphabet during the 1st quarter worth $391,000. Finally, MSA Advisors LLC lifted its position in Alphabet by 7.0% during the 1st quarter. MSA Advisors LLC now owns 87,865 shares of the information services provider's stock worth $13,727,000 after acquiring an additional 5,750 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.
Alphabet Stock Performance
NASDAQ GOOG opened at $203.82 on Friday. The firm has a market cap of $2.46 trillion, a price-to-earnings ratio of 21.71, a PEG ratio of 1.34 and a beta of 1.02. The company has a 50 day moving average of $184.61 and a 200-day moving average of $174.82. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70.
Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.19. The company had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company's revenue was up 13.8% on a year-over-year basis. During the same quarter last year, the business posted $1.89 earnings per share. On average, equities analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.
Alphabet Announces Dividend
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. The ex-dividend date of this dividend 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%.
Wall Street Analysts Forecast Growth
GOOG has been the subject of a number of research analyst reports. Cowen reissued a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Westpark Capital reaffirmed a "buy" rating and set a $210.00 price objective on shares of Alphabet in a research report on Friday, April 25th. Oppenheimer reaffirmed an "outperform" rating and set a $235.00 price objective (up previously from $220.00) on shares of Alphabet in a research report on Thursday, July 24th. Citizens Jmp raised shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 26th. Finally, Wells Fargo & Company reaffirmed an "equal weight" rating on shares of Alphabet in a research report on Wednesday, July 9th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and five have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $215.19.
Read Our Latest Stock Analysis on GOOG
Insider Activity at Alphabet
In related news, Director Kavitark Ram Shriram sold 15,000 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 value of $2,786,400.00. Following the completion of the sale, the director owned 240,400 shares of the company's stock, valued at $44,656,704. This trade represents a 5.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $196.23, for a total transaction of $6,377,475.00. Following the completion of the sale, the chief executive officer directly owned 2,494,892 shares of the company's stock, valued at approximately $489,572,657.16. This represents a 1.29% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 274,819 shares of company stock worth $49,796,547. 12.99% of the stock is currently owned by company insiders.
About Alphabet
(
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.
Further Reading
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