Cheviot Value Management LLC boosted its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 221.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,298 shares of the information services provider's stock after buying an additional 2,963 shares during the quarter. Cheviot Value Management LLC's holdings in Alphabet were worth $714,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. FMR LLC lifted its position in Alphabet by 2.8% in the 4th quarter. FMR LLC now owns 117,991,725 shares of the information services provider's stock worth $22,470,344,000 after buying an additional 3,189,592 shares in the last quarter. Capital International Investors raised its holdings in shares of Alphabet by 6.7% during the 4th quarter. Capital International Investors now owns 91,236,069 shares of the information services provider's stock valued at $17,376,706,000 after purchasing an additional 5,758,244 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Alphabet by 16.1% during the 4th quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock valued at $10,873,751,000 after purchasing an additional 7,917,625 shares in the last quarter. Capital Research Global Investors raised its holdings in shares of Alphabet by 0.8% during the 4th quarter. Capital Research Global Investors now owns 39,148,500 shares of the information services provider's stock valued at $7,455,571,000 after purchasing an additional 294,556 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Alphabet by 2.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 34,103,417 shares of the information services provider's stock valued at $6,494,655,000 after purchasing an additional 769,335 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.
Alphabet Stock Down 1.5%
Shares of NASDAQ GOOG opened at $189.95 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70. The company has a 50 day simple moving average of $179.37 and a 200 day simple moving average of $174.53. The firm has a market cap of $2.31 trillion, a PE ratio of 20.23, a price-to-earnings-growth ratio of 1.26 and a beta of 1.02.
Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.19. The company had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Alphabet's revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.89 EPS. On average, research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.
Alphabet Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be given a $0.21 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.4%. Alphabet's dividend payout ratio (DPR) is presently 8.95%.
Wall Street Analyst Weigh In
A number of research analysts have recently weighed in on GOOG shares. JPMorgan Chase & Co. raised their price target on shares of Alphabet from $200.00 to $232.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Oppenheimer restated an "outperform" rating and set a $235.00 price target (up previously from $220.00) on shares of Alphabet in a report on Thursday, July 24th. Pivotal Research raised their price target on shares of Alphabet from $225.00 to $245.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Barclays restated a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, Scotiabank raised their target price on shares of Alphabet from $200.00 to $240.00 and gave the company a "sector outperform" rating in a research note on Tuesday, July 22nd. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and five have assigned a strong buy rating to the stock. Based on data from MarketBeat, Alphabet has a consensus rating of "Moderate Buy" and a consensus price target of $215.19.
Get Our Latest Analysis on Alphabet
Insider Activity at Alphabet
In related news, Director John L. Hennessy sold 400 shares of Alphabet stock in a transaction on Monday, July 14th. The shares were sold at an average price of $181.98, for a total value of $72,792.00. Following the completion of the sale, the director owned 6,013 shares of the company's stock, valued at approximately $1,094,245.74. This trade represents a 6.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction on 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 completion of the sale, the director directly owned 243,400 shares of the company's stock, valued at approximately $45,213,984. The trade was a 7.09% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 249,399 shares of company stock valued at $43,525,794. 12.99% of the stock is owned by company insiders.
Alphabet Company Profile
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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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