Allium Financial Advisors LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 3,412 shares of the information services provider's stock, valued at approximately $533,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Integrated Investment Consultants LLC lifted its stake in shares of Alphabet by 3.7% in the first quarter. Integrated Investment Consultants LLC now owns 6,069 shares of the information services provider's stock valued at $948,000 after purchasing an additional 219 shares during the period. HB Wealth Management LLC raised its position in Alphabet by 63.9% during the first quarter. HB Wealth Management LLC now owns 346,371 shares of the information services provider's stock worth $54,114,000 after acquiring an additional 134,999 shares during the last quarter. Brandywine Oak Private Wealth LLC raised its position in Alphabet by 4.5% during the first quarter. Brandywine Oak Private Wealth LLC now owns 12,714 shares of the information services provider's stock worth $1,986,000 after acquiring an additional 545 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its position in Alphabet by 0.5% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 1,473,018 shares of the information services provider's stock worth $230,056,000 after acquiring an additional 7,140 shares during the last quarter. Finally, Fischer Financial Services Inc. raised its position in Alphabet by 4.2% during the first quarter. Fischer Financial Services Inc. now owns 4,122 shares of the information services provider's stock worth $644,000 after acquiring an additional 167 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on GOOG shares. Oppenheimer restated an "outperform" rating and set a $235.00 target price (up previously from $220.00) on shares of Alphabet in a research report on Thursday, July 24th. Piper Sandler restated a "neutral" rating on shares of Alphabet in a research report on Wednesday, July 9th. Westpark Capital restated a "buy" rating and set a $210.00 target price on shares of Alphabet in a research report on Friday, April 25th. Cowen restated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, Raymond James Financial restated an "outperform" rating and set a $210.00 target price (up previously from $185.00) on shares of Alphabet in a research report on Thursday, July 24th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have issued a buy rating and five have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $215.19.
View Our Latest Stock Report on Alphabet
Alphabet Trading Up 1.3%
GOOG traded up $2.42 during trading on Tuesday, hitting $195.84. 14,205,082 shares of the company's stock were exchanged, compared to its average volume of 24,214,928. 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. The stock has a 50 day moving average price of $177.37 and a 200 day moving average price of $174.38. The firm has a market cap of $2.38 trillion, a P/E ratio of 20.86, a price-to-earnings-growth ratio of 1.31 and a beta of 1.01.
Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. During the same period in the previous year, the firm earned $1.89 earnings per share. Alphabet's revenue for the quarter was up 13.8% on a year-over-year basis. As a group, analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.
Alphabet Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.43%. Alphabet's dividend payout ratio is currently 8.95%.
Insiders Place Their Bets
In other news, Director Kavitark Ram Shriram sold 18,566 shares of the company's stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director directly owned 243,400 shares in the company, valued at approximately $45,213,984. This represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the completion of the transaction, the chief executive officer owned 2,527,392 shares of the company's stock, valued at $466,000,536.96. This trade represents a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 249,409 shares of company stock worth $43,523,710 over the last ninety days. 12.99% of the stock is 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.
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