Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 16.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,087,199 shares of the information services provider's stock after purchasing an additional 149,949 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Alphabet were worth $169,668,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in GOOG. Ethos Financial Group LLC grew its stake in Alphabet by 0.7% in the 4th quarter. Ethos Financial Group LLC now owns 7,300 shares of the information services provider's stock valued at $1,395,000 after acquiring an additional 53 shares during the last quarter. Hutchinson Capital Management CA grew its stake in Alphabet by 1.5% in the 4th quarter. Hutchinson Capital Management CA now owns 3,555 shares of the information services provider's stock valued at $677,000 after acquiring an additional 54 shares during the last quarter. M. Kulyk & Associates LLC grew its stake in Alphabet by 0.9% in the 4th quarter. M. Kulyk & Associates LLC now owns 6,445 shares of the information services provider's stock valued at $1,227,000 after acquiring an additional 56 shares during the last quarter. Retirement Planning Co of New England Inc. grew its stake in Alphabet by 0.4% in the 4th quarter. Retirement Planning Co of New England Inc. now owns 15,977 shares of the information services provider's stock valued at $3,043,000 after acquiring an additional 56 shares during the last quarter. Finally, Concentrum Wealth Management grew its stake in Alphabet by 0.3% in the 4th quarter. Concentrum Wealth Management now owns 17,328 shares of the information services provider's stock valued at $3,300,000 after acquiring an additional 57 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.
Alphabet Trading Up 2.2%
GOOG traded up $3.84 on Friday, reaching $178.27. 73,956,281 shares of the company's stock were exchanged, compared to its average volume of 20,984,165. The company's 50 day moving average is $167.82 and its 200-day moving average is $176.02. The company has a market cap of $2.16 trillion, a price-to-earnings ratio of 19.87, a PEG ratio of 1.26 and a beta of 1.01. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77.
Alphabet (NASDAQ:GOOG - Get Free Report) last posted its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. The firm had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The company's revenue was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.89 EPS. Equities analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.
Alphabet Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date was Monday, June 9th. This is an increase from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio is 9.36%.
Insider Buying and Selling
In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $1,837,500.00. Following the completion of the sale, the director now owns 261,966 shares of the company's stock, valued at $45,844,050. This trade represents a 3.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $176.68, for a total transaction of $5,742,100.00. Following the completion of the sale, the chief executive officer now directly owns 2,555,196 shares of the company's stock, valued at $451,452,029.28. This trade represents a 1.26% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 216,195 shares of company stock valued at $35,764,898. 12.99% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on the stock. Rosenblatt Securities raised shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. Susquehanna reissued a "positive" rating on shares of Alphabet in a research note on Friday, May 2nd. BNP Paribas cut shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday. Cantor Fitzgerald reissued a "neutral" rating and issued a $171.00 price objective on shares of Alphabet in a research note on Friday, April 25th. Finally, Citizens Jmp upgraded shares of Alphabet from a "hold" rating to a "strong-buy" rating in a report on Thursday. Three analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and six have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $206.38.
Read Our Latest Report on Alphabet
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.
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