Zuckerman Investment Group LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 164,203 shares of the information services provider's stock after selling 2,116 shares during the period. Alphabet comprises approximately 2.7% of Zuckerman Investment Group LLC's investment portfolio, making the stock its 6th largest holding. Zuckerman Investment Group LLC's holdings in Alphabet were worth $25,392,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Mystic Asset Management Inc. lifted its holdings in Alphabet by 6.7% in the 1st quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider's stock valued at $4,400,000 after purchasing an additional 1,791 shares in the last quarter. Harbour Trust & Investment Management Co lifted its holdings in Alphabet by 0.3% in the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider's stock valued at $4,187,000 after purchasing an additional 80 shares in the last quarter. Rockbridge Capital Management LLC purchased a new position in Alphabet in the 4th quarter valued at $3,119,000. Cypress Capital LLC lifted its holdings in Alphabet by 4.1% in the 1st quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider's stock valued at $2,213,000 after purchasing an additional 563 shares in the last quarter. Finally, Falcon Wealth Planning lifted its holdings in Alphabet by 15.7% in the 1st quarter. Falcon Wealth Planning now owns 9,898 shares of the information services provider's stock valued at $1,531,000 after purchasing an additional 1,340 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
GOOGL has been the topic of a number of research reports. Stifel Nicolaus raised their price objective on Alphabet from $200.00 to $218.00 and gave the company a "buy" rating in a report on Tuesday, July 22nd. Susquehanna lifted their price target on Alphabet from $220.00 to $225.00 and gave the stock a "positive" rating in a report on Thursday, July 24th. Wells Fargo & Company lifted their price target on Alphabet from $184.00 to $187.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 29th. JMP Securities lifted their price target on Alphabet from $220.00 to $225.00 and gave the stock a "market outperform" rating in a report on Thursday, July 24th. Finally, KeyCorp lifted their price target on Alphabet from $215.00 to $230.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $211.53.
Read Our Latest Research Report on GOOGL
Alphabet Stock Up 2.0%
Shares of NASDAQ:GOOGL opened at $211.64 on Friday. The business has a 50-day moving average price of $189.51 and a 200 day moving average price of $173.92. 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 has a market capitalization of $2.56 trillion, a price-to-earnings ratio of 22.54, a PEG ratio of 1.40 and a beta of 1.01. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $212.22.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating 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 return on equity of 34.31% and a net margin of 31.12%. Sell-side analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.
Alphabet Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be given a $0.21 dividend. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.4%. Alphabet's dividend payout ratio is presently 8.95%.
Insiders Place Their Bets
In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of the company's stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the sale, the director owned 243,400 shares of the company's stock, valued at approximately $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 accessible through the SEC website. Also, Director John L. Hennessy sold 1,000 shares of the company's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $200.00, for a total value of $200,000.00. Following the completion of the sale, the director directly owned 6,916 shares in the company, valued at $1,383,200. This trade represents a 12.63% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 254,608 shares of company stock worth $47,204,035. 11.64% of the stock is owned by insiders.
Alphabet Profile
(
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.
See Also
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