Lee Danner & Bass Inc. lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 2.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 211,774 shares of the information services provider's stock after selling 5,173 shares during the quarter. Alphabet makes up about 2.7% of Lee Danner & Bass Inc.'s investment portfolio, making the stock its 6th biggest position. Lee Danner & Bass Inc.'s holdings in Alphabet were worth $33,085,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in GOOG. FMR LLC raised its position in shares of 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 during the period. Geode Capital Management LLC raised its position in shares of Alphabet by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 104,777,092 shares of the information services provider's stock worth $19,894,651,000 after buying an additional 1,219,606 shares during the period. Capital International Investors raised its position in shares of Alphabet by 6.7% in the 4th quarter. Capital International Investors now owns 91,236,069 shares of the information services provider's stock worth $17,376,706,000 after buying an additional 5,758,244 shares during the period. Northern Trust Corp raised its position in shares of Alphabet by 16.1% in the 4th quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock worth $10,873,751,000 after buying an additional 7,917,625 shares during the period. Finally, Capital Research Global Investors raised its position in Alphabet by 0.8% in the fourth 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 during the period. Hedge funds and other institutional investors own 27.26% of the company's stock.
Alphabet Stock Up 0.3%
NASDAQ:GOOG opened at $180.22 on Friday. The company has a market capitalization of $2.19 trillion, a price-to-earnings ratio of 20.09, a price-to-earnings-growth ratio of 1.27 and a beta of 1.01. Alphabet Inc. has a one year low of $142.66 and a one year high of $208.70. The stock has a 50-day simple moving average of $169.97 and a 200 day simple moving average of $175.49. 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 quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. The business had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The company's revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period last year, the firm earned $1.89 earnings per share. Sell-side analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.
Alphabet Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.47%. This is an increase from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 9th. Alphabet's dividend payout ratio (DPR) is 9.36%.
Insider Buying and Selling
In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $170.87, for a total value of $5,553,275.00. Following the completion of the transaction, the chief executive officer directly owned 2,620,196 shares in the company, valued at approximately $447,712,890.52. This trade represents a 1.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $105,000.00. Following the completion of the transaction, the director owned 6,813 shares of the company's stock, valued at $1,192,275. This trade represents a 8.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 215,643 shares of company stock worth $36,330,928. Corporate insiders own 12.99% of the company's stock.
Analyst Upgrades and Downgrades
Several research analysts have commented on the company. JPMorgan Chase & Co. raised their price objective on Alphabet from $180.00 to $195.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. Needham & Company LLC lowered Alphabet from a "buy" rating to a "cautious" rating in a research report on Friday, May 2nd. The Goldman Sachs Group reissued a "buy" rating and issued a $220.00 price objective on shares of Alphabet in a research report on Monday, June 2nd. Oppenheimer raised their price objective on Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a research report on Friday, April 25th. Finally, Citizens Jmp raised Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 26th. Three analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and six have given a strong buy rating to the stock. According to MarketBeat, Alphabet has a consensus rating of "Moderate Buy" and a consensus target price of $206.38.
Check Out Our Latest Stock Analysis on Alphabet
About Alphabet
(
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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