First Pacific Advisors LP trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 12.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,599,254 shares of the information services provider's stock after selling 217,175 shares during the quarter. Alphabet comprises 4.0% of First Pacific Advisors LP's portfolio, making the stock its 10th biggest holding. First Pacific Advisors LP's holdings in Alphabet were worth $249,851,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of GOOG. Brighton Jones LLC lifted its stake in shares of Alphabet by 5.6% in the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider's stock valued at $22,901,000 after buying an additional 6,410 shares during the period. Bank Pictet & Cie Europe AG lifted its stake in shares of Alphabet by 4.3% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 506,535 shares of the information services provider's stock valued at $96,465,000 after buying an additional 20,855 shares during the period. Zions Bancorporation N.A. lifted its stake in shares of Alphabet by 34.2% in the fourth quarter. Zions Bancorporation N.A. now owns 11,811 shares of the information services provider's stock valued at $2,249,000 after buying an additional 3,008 shares during the period. Murphy & Mullick Capital Management Corp bought a new stake in shares of Alphabet in the fourth quarter valued at about $151,000. Finally, Summitry LLC lifted its stake in shares of Alphabet by 7.8% in the fourth quarter. Summitry LLC now owns 14,523 shares of the information services provider's stock valued at $2,766,000 after buying an additional 1,047 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on the stock. Roth Capital reiterated a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Citigroup reaffirmed a "sell" rating on shares of Alphabet in a report on Wednesday, April 23rd. Needham & Company LLC lowered shares of Alphabet from a "buy" rating to a "cautious" rating in a report on Friday, May 2nd. KeyCorp dropped their price objective on shares of Alphabet from $202.00 to $185.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Finally, Wells Fargo & Company reaffirmed an "equal weight" rating on shares of Alphabet in a report on Wednesday, July 9th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and five have assigned a strong buy rating to the stock. According to data from MarketBeat, Alphabet has a consensus rating of "Moderate Buy" and an average price target of $215.19.
Read Our Latest Stock Report on Alphabet
Insider Transactions at Alphabet
In related news, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares of the company's stock, valued at $45,213,984. This represents a 7.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John L. Hennessy sold 400 shares of the stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $181.98, for a total transaction of $72,792.00. Following the completion of the transaction, the director directly owned 6,013 shares of the company's stock, valued at approximately $1,094,245.74. The trade was a 6.24% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 249,409 shares of company stock valued at $43,523,710. Company insiders own 12.99% of the company's stock.
Alphabet Stock Performance
NASDAQ GOOG traded up $0.88 during trading on Friday, reaching $194.08. The company's stock had a trading volume of 31,074,800 shares, compared to its average volume of 27,020,362. The company has a current ratio of 1.90, a quick ratio of 1.77 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $2.36 trillion, a price-to-earnings ratio of 20.67, a price-to-earnings-growth ratio of 1.33 and a beta of 1.01. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $208.70. The firm has a 50 day moving average price of $176.86 and a 200 day moving average price of $174.53.
Alphabet (NASDAQ:GOOG - 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, beating analysts' consensus estimates of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The firm had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. During the same quarter in the previous year, the firm posted $1.89 EPS. The business's revenue for the quarter was up 13.8% compared to the same quarter last year. As a group, equities analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.
Alphabet Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's dividend payout ratio (DPR) is presently 8.95%.
Alphabet Company 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.
Featured Articles
Before you consider Alphabet, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Alphabet wasn't on the list.
While Alphabet currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
