Cambiar Investors LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 333,617 shares of the information services provider's stock after selling 8,797 shares during the period. Alphabet makes up about 2.2% of Cambiar Investors LLC's holdings, making the stock its 10th largest holding. Cambiar Investors LLC's holdings in Alphabet were worth $51,591,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Alphabet by 2.9% in the first quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider's stock valued at $78,839,544,000 after acquiring an additional 14,307,345 shares in the last quarter. Northern Trust Corp raised its stake in Alphabet by 17.0% in the fourth quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock valued at $13,178,470,000 after buying an additional 10,135,430 shares in the last quarter. Wellington Management Group LLP raised its stake in Alphabet by 15.9% in the fourth quarter. Wellington Management Group LLP now owns 66,050,135 shares of the information services provider's stock valued at $12,503,291,000 after buying an additional 9,042,271 shares in the last quarter. Invesco Ltd. raised its stake in Alphabet by 1.4% in the first quarter. Invesco Ltd. now owns 43,648,514 shares of the information services provider's stock valued at $6,749,806,000 after buying an additional 593,345 shares in the last quarter. Finally, Deutsche Bank AG raised its stake in Alphabet by 1.9% in the first quarter. Deutsche Bank AG now owns 39,792,300 shares of the information services provider's stock valued at $6,153,481,000 after buying an additional 727,335 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, insider John Kent Walker sold 23,820 shares of the firm's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, the insider owned 42,999 shares of the company's stock, valued at $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director John L. Hennessy sold 1,000 shares of the firm's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $200.00, for a total value of $200,000.00. Following the transaction, the director directly owned 6,916 shares in the company, valued at approximately $1,383,200. This represents a 12.63% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 254,719 shares of company stock worth $47,223,172. Corporate insiders own 11.55% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on the company. Sanford C. Bernstein raised their price target on Alphabet from $185.00 to $195.00 and gave the company a "market perform" rating in a research note on Tuesday, July 22nd. Stifel Nicolaus raised their price target on Alphabet from $200.00 to $218.00 and gave the company a "buy" rating in a research note on Tuesday, July 22nd. BNP Paribas Exane restated a "neutral" rating and issued a $172.00 price target on shares of Alphabet in a research note on Friday, June 27th. BMO Capital Markets raised their price target on Alphabet from $208.00 to $225.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Finally, Barclays raised their price target on Alphabet from $220.00 to $235.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Four research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, Alphabet has an average rating of "Moderate Buy" and a consensus target price of $211.53.
Check Out Our Latest Research Report on GOOGL
Alphabet Stock Performance
Shares of NASDAQ GOOGL traded up $2.40 during midday trading on Monday, reaching $208.49. 29,895,767 shares of the company were exchanged, compared to its average volume of 31,370,868. 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 $140.53 and a 1 year high of $210.52. The stock has a fifty day simple moving average of $187.44 and a 200 day simple moving average of $173.28. The stock has a market cap of $2.52 trillion, a P/E ratio of 22.20, a PEG ratio of 1.39 and a beta of 1.01.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.15 by $0.16. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The firm had revenue of $96,428,000 billion for the quarter, compared to analyst estimates of $93.60 billion. On average, research analysts forecast that Alphabet Inc. will post 8.9 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 dividend of $0.21 per share. 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%.
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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