Woodward Diversified Capital LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 57.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,974 shares of the information services provider's stock after buying an additional 5,116 shares during the quarter. Alphabet comprises 1.2% of Woodward Diversified Capital LLC's portfolio, making the stock its 13th largest position. Woodward Diversified Capital LLC's holdings in Alphabet were worth $2,463,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in GOOGL. Brighton Jones LLC raised its stake in Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock valued at $20,886,000 after acquiring an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC grew its holdings in shares of Alphabet by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock worth $2,826,000 after acquiring an additional 506 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Alphabet by 0.8% in the 1st quarter. Rhumbline Advisers now owns 11,267,743 shares of the information services provider's stock worth $1,742,444,000 after acquiring an additional 86,670 shares during the last quarter. Wealthcare Advisory Partners LLC grew its holdings in shares of Alphabet by 3.9% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 56,875 shares of the information services provider's stock worth $8,795,000 after acquiring an additional 2,117 shares during the last quarter. Finally, First National Bank Sioux Falls boosted its position in shares of Alphabet by 18.2% in the first quarter. First National Bank Sioux Falls now owns 12,007 shares of the information services provider's stock worth $1,857,000 after buying an additional 1,848 shares during the period. Institutional investors own 40.03% of the company's stock.
Insider Buying and Selling at Alphabet
In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $243.41, for a total value of $7,910,825.00. Following the completion of the sale, the chief executive officer directly owned 2,402,119 shares in the company, valued at $584,699,785.79. The trade was a 1.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John Kent Walker sold 17,816 shares of the firm's stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $247.42, for a total transaction of $4,408,034.72. Following the completion of the transaction, the insider directly owned 42,985 shares in the company, valued at approximately $10,635,348.70. The trade was a 29.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 276,738 shares of company stock worth $59,135,475 over the last ninety days. 11.64% of the stock is owned by company insiders.
Alphabet Price Performance
Shares of NASDAQ:GOOGL opened at $244.62 on Thursday. The firm has a market cap of $2.96 trillion, a PE ratio of 26.05, a price-to-earnings-growth ratio of 1.66 and a beta of 1.00. The firm's fifty day moving average is $224.37 and its 200-day moving average is $187.53. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $256.00.
Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.15 by $0.16. The company had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Sell-side analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.
Alphabet Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Monday, September 8th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet's payout ratio is presently 8.95%.
Analyst Ratings Changes
A number of analysts have weighed in on the company. Bank of America lifted their price objective on Alphabet from $210.00 to $217.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Piper Sandler upped their target price on shares of Alphabet from $220.00 to $285.00 and gave the company an "overweight" rating in a research report on Thursday, September 18th. Citigroup upped their target price on shares of Alphabet from $225.00 to $280.00 and gave the company a "buy" rating in a research report on Monday, September 15th. Morgan Stanley set a $270.00 price objective on shares of Alphabet and gave the company an "overweight" rating in a research report on Thursday, October 2nd. Finally, Citizens Jmp upped their price objective on shares of Alphabet from $250.00 to $290.00 and gave the company an "outperform" rating in a research report on Friday, September 19th. Five equities research analysts have rated the stock with a Strong Buy rating, thirty-four have given a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, Alphabet presently has an average rating of "Moderate Buy" and an average target price of $242.98.
Read Our Latest Stock Analysis on Alphabet
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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