Conway Capital Management Inc. boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 11.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 42,160 shares of the information services provider's stock after acquiring an additional 4,245 shares during the quarter. Alphabet accounts for 3.3% of Conway Capital Management Inc.'s portfolio, making the stock its 8th biggest holding. Conway Capital Management Inc.'s holdings in Alphabet were worth $6,587,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Norges Bank purchased a new stake in shares of Alphabet in the fourth quarter valued at approximately $5,166,070,000. GAMMA Investing LLC lifted its stake in Alphabet by 18,562.3% in the first quarter. GAMMA Investing LLC now owns 14,323,323 shares of the information services provider's stock worth $2,237,733,000 after acquiring an additional 14,246,573 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Alphabet in the 4th quarter valued at about $1,551,533,000. Northern Trust Corp increased its holdings in Alphabet by 16.1% during the fourth quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock valued at $10,873,751,000 after buying an additional 7,917,625 shares during the period. Finally, GQG Partners LLC raised its stake in Alphabet by 181,679.1% in the fourth quarter. GQG Partners LLC now owns 7,225,721 shares of the information services provider's stock worth $1,376,066,000 after buying an additional 7,221,746 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.
Insider Transactions at Alphabet
In other Alphabet news, CAO Amie Thuener O'toole sold 673 shares of the business's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total transaction of $104,537.09. Following the sale, the chief accounting officer now directly owns 15,303 shares in the company, valued at $2,377,014.99. This represents a 4.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the transaction, the chief executive officer now owns 2,717,696 shares of the company's stock, valued at approximately $430,917,877.76. This trade represents a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 195,570 shares of company stock worth $32,003,532 in the last 90 days. Insiders own 12.99% of the company's stock.
Alphabet Price Performance
Shares of NASDAQ GOOG traded down $0.71 during trading on Tuesday, hitting $177.23. The company had a trading volume of 17,459,815 shares, compared to its average volume of 20,511,727. The firm has a market capitalization of $2.15 trillion, a price-to-earnings ratio of 19.76, a price-to-earnings-growth ratio of 1.26 and a beta of 1.01. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70. The stock has a fifty day simple moving average of $165.19 and a two-hundred day simple moving average of $176.43. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03.
Alphabet (NASDAQ:GOOG - Get Free Report) last released 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. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The business had revenue of $90.23 billion during the quarter, compared to analyst estimates of $89.30 billion. During the same quarter in the prior year, the firm earned $1.89 earnings per share. The company's revenue for the quarter was up 12.0% compared to the same quarter last year. On average, research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.
Alphabet Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were given a dividend of $0.21 per share. This is a boost from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.47%. Alphabet's payout ratio is presently 9.36%.
Wall Street Analyst Weigh In
GOOG has been the topic of a number of analyst reports. Tigress Financial reiterated a "strong-buy" rating on shares of Alphabet in a report on Friday, May 2nd. Oppenheimer lifted their target price on Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a research note on Friday, April 25th. The Goldman Sachs Group reissued a "buy" rating and set a $220.00 price target on shares of Alphabet in a research report on Monday, June 2nd. Rosenblatt Securities upgraded shares of Alphabet from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. Finally, Scotiabank reduced their price objective on shares of Alphabet from $232.00 to $200.00 and set a "sector outperform" rating for the company in a research note on Monday, April 21st. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have given a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $204.88.
Read Our Latest Stock Report on GOOG
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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