Altarock Partners LP lessened its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 0.8% in the first quarter, according to its most recent filing with the SEC. The firm owned 3,454,367 shares of the information services provider's stock after selling 26,434 shares during the quarter. Alphabet makes up approximately 10.7% of Altarock Partners LP's investment portfolio, making the stock its 4th largest holding. Altarock Partners LP's holdings in Alphabet were worth $534,183,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. FORA Capital LLC increased its position in shares of Alphabet by 755.2% during the first quarter. FORA Capital LLC now owns 53,448 shares of the information services provider's stock worth $8,265,000 after buying an additional 47,198 shares during the period. Harvest Portfolios Group Inc. grew its holdings in Alphabet by 26.7% during the 1st quarter. Harvest Portfolios Group Inc. now owns 297,188 shares of the information services provider's stock worth $45,957,000 after acquiring an additional 62,548 shares during the period. WealthTrust Axiom LLC grew its holdings in Alphabet by 4.9% during the 1st quarter. WealthTrust Axiom LLC now owns 3,505 shares of the information services provider's stock worth $542,000 after acquiring an additional 165 shares during the period. South Plains Financial Inc. grew its holdings in Alphabet by 7.2% during the 1st quarter. South Plains Financial Inc. now owns 18,652 shares of the information services provider's stock worth $2,884,000 after acquiring an additional 1,248 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in Alphabet by 1.0% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 5,092,826 shares of the information services provider's stock worth $787,555,000 after acquiring an additional 51,037 shares during the period. Institutional investors and hedge funds own 40.03% of the company's stock.
Analyst Ratings Changes
Several equities research analysts recently commented on the company. BNP Paribas cut Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. DA Davidson raised their price objective on shares of Alphabet from $160.00 to $180.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Royal Bank Of Canada raised their price target on shares of Alphabet from $200.00 to $220.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. JMP Securities raised their price target on shares of Alphabet from $220.00 to $225.00 and gave the stock a "market outperform" rating in a report on Thursday, July 24th. Finally, Truist Financial restated a "buy" rating and issued a $200.00 price target on shares of Alphabet in a report on Wednesday, July 2nd. Four analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $211.53.
Check Out Our Latest Stock Analysis on Alphabet
Alphabet Stock Up 0.6%
GOOGL stock traded up $1.27 during mid-day trading on Friday, reaching $212.91. 39,702,089 shares of the company traded hands, compared to its average volume of 28,893,466. The stock has a market cap of $2.57 trillion, a price-to-earnings ratio of 22.67, a P/E/G ratio of 1.43 and a beta of 1.01. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $214.65. The firm's 50 day moving average price is $190.44 and its 200 day moving average price is $174.05.
Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $96.43 billion for 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%. As a group, equities research analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.
Alphabet Dividend Announcement
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 $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's payout ratio is 8.95%.
Insider Activity at Alphabet
In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of the company's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the sale, the director directly owned 243,400 shares of the company's stock, valued at $45,213,984. This represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John L. Hennessy sold 1,000 shares of the company's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $200.00, for a total transaction of $200,000.00. Following the sale, the director owned 6,916 shares in the company, valued at $1,383,200. The trade was a 12.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 254,710 shares of company stock valued at $47,225,230 over the last quarter. Corporate insiders own 11.64% of the company's stock.
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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