DGS Capital Management LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 36.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 43,821 shares of the information services provider's stock after buying an additional 11,748 shares during the period. Alphabet accounts for about 2.4% of DGS Capital Management LLC's portfolio, making the stock its 6th largest holding. DGS Capital Management LLC's holdings in Alphabet were worth $13,751,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in GOOG. Nvest Wealth Strategies Inc. acquired a new stake in Alphabet in the fourth quarter valued at $38,000. Imprint Wealth LLC acquired a new position in shares of Alphabet in the third quarter valued at about $31,000. Bard Associates Inc. acquired a new position in Alphabet in the 4th quarter valued at $41,000. Towne Trust Company N.A grew its stake in Alphabet by 34.0% during the fourth quarter. Towne Trust Company N.A now owns 134 shares of the information services provider's stock worth $42,000 after buying an additional 34 shares in the last quarter. Finally, Commonwealth Retirement Investments LLC bought a new position in Alphabet in the fourth quarter valued at approximately $45,000. Institutional investors own 27.26% of the company's stock.
Key Stories Impacting Alphabet
Here are the key news stories impacting Alphabet this week:
Analyst Upgrades and Downgrades
Several research analysts have commented on the company. Truist Financial set a $430.00 target price on Alphabet in a research note on Monday, June 1st. Scotiabank reiterated an "outperform" rating and issued a $450.00 price objective (up from $400.00) on shares of Alphabet in a report on Thursday, April 30th. The Goldman Sachs Group reiterated a "buy" rating and set a $450.00 target price on shares of Alphabet in a research report on Thursday, May 21st. Stifel Nicolaus set a $420.00 target price on shares of Alphabet in a report on Wednesday, May 20th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Alphabet in a research report on Monday, April 20th. Five research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Alphabet presently has an average rating of "Buy" and an average price target of $376.78.
Read Our Latest Research Report on Alphabet
Insider Activity
In other news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the firm's stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $23.75, for a total transaction of $2,077,531.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John L. Hennessy sold 1,050 shares of the firm's stock in a transaction on Friday, May 15th. The stock was sold at an average price of $393.26, for a total value of $412,923.00. Following the completion of the sale, the director directly owned 2,531 shares of the company's stock, valued at $995,341.06. This represents a 29.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 160,516 shares of company stock worth $7,344,604. 12.99% of the stock is owned by insiders.
Alphabet Stock Performance
Shares of GOOG stock opened at $367.46 on Friday. The firm has a market capitalization of $4.45 trillion, a PE ratio of 28.03, a price-to-earnings-growth ratio of 1.57 and a beta of 1.22. Alphabet Inc. has a 12 month low of $163.33 and a 12 month high of $404.47. The firm has a fifty day simple moving average of $364.31 and a two-hundred day simple moving average of $331.07. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.16.
Alphabet (NASDAQ:GOOG - Get Free Report) last posted its earnings results on Thursday, April 30th. The information services provider reported $5.11 earnings per share for the quarter, beating analysts' consensus estimates of $2.68 by $2.43. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The company had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.96 billion. During the same quarter last year, the company earned $2.81 earnings per share. The company's revenue for the quarter was up 21.8% on a year-over-year basis. Analysts forecast that Alphabet Inc. will post 14.3 EPS for the current fiscal year.
Alphabet Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 8th were given a dividend of $0.22 per share. The ex-dividend date was Monday, June 8th. This is an increase from Alphabet's previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 0.2%. Alphabet's dividend payout ratio (DPR) is currently 6.71%.
Alphabet Company Profile
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Free Report)
Alphabet Inc NASDAQ: GOOG is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as "Other Bets." Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company's history.
Alphabet's core business centers on internet search and advertising, with Google Search and the company's ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.
Further Reading
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