LGT Group Foundation grew its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 22.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,737,412 shares of the information services provider's stock after purchasing an additional 318,570 shares during the period. Alphabet makes up about 3.7% of LGT Group Foundation's holdings, making the stock its 6th largest holding. LGT Group Foundation's holdings in Alphabet were worth $268,673,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Guardian Wealth Management Inc. grew its stake in Alphabet by 242.9% during the 1st quarter. Guardian Wealth Management Inc. now owns 168 shares of the information services provider's stock worth $26,000 after purchasing an additional 119 shares in the last quarter. von Borstel & Associates Inc. purchased a new position in shares of Alphabet in the 1st quarter valued at about $28,000. IMA Advisory Services Inc. acquired a new position in shares of Alphabet during the first quarter worth about $28,000. NBZ Investment Advisors LLC increased its stake in shares of Alphabet by 85.7% during the first quarter. NBZ Investment Advisors LLC now owns 195 shares of the information services provider's stock worth $30,000 after buying an additional 90 shares during the period. Finally, Financial Gravity Asset Management Inc. purchased a new stake in shares of Alphabet during the first quarter worth approximately $39,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research firms have commented on GOOGL. Roth Capital boosted their price target on shares of Alphabet from $205.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Loop Capital reiterated a "hold" rating and set a $190.00 target price (up previously from $165.00) on shares of Alphabet in a research note on Tuesday, August 5th. Royal Bank Of Canada raised their price target on Alphabet from $200.00 to $220.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Sanford C. Bernstein lifted their price target on Alphabet from $185.00 to $195.00 and gave the stock a "market perform" rating in a report on Tuesday, July 22nd. Finally, Barclays increased their price objective on Alphabet from $220.00 to $235.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Ten analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, Alphabet currently has an average rating of "Moderate Buy" and an average target price of $211.53.
View Our Latest Analysis on Alphabet
Insider Buying and Selling
In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $196.23, for a total value of $6,377,475.00. Following the completion of the transaction, the chief executive officer directly owned 2,494,892 shares in the company, valued at approximately $489,572,657.16. The trade was a 1.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kavitark Ram Shriram sold 15,000 shares of the stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $2,786,400.00. Following the transaction, the director owned 240,400 shares in the company, valued at $44,656,704. This trade represents a 5.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 274,819 shares of company stock worth $49,796,547 in the last ninety days. 11.64% of the stock is currently owned by insiders.
Alphabet Price Performance
Shares of NASDAQ GOOGL opened at $203.50 on Tuesday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The company's 50-day moving average price is $184.80 and its 200 day moving average price is $173.00. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05. The stock has a market cap of $2.46 trillion, a price-to-earnings ratio of 21.67, a PEG ratio of 1.37 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 EPS for the quarter, beating the consensus estimate of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96,428,000 billion for the quarter, compared to analyst estimates of $93.60 billion. As a group, 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 disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors 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 dividend on an annualized basis and a dividend yield of 0.4%. Alphabet's dividend payout ratio (DPR) is presently 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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