Breakwater Capital Group boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 54.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 16,680 shares of the information services provider's stock after acquiring an additional 5,890 shares during the quarter. Breakwater Capital Group's holdings in Alphabet were worth $2,606,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Sterling Financial Planning Inc. lifted its stake in shares of Alphabet by 2.6% during the 4th quarter. Sterling Financial Planning Inc. now owns 1,941 shares of the information services provider's stock worth $370,000 after acquiring an additional 50 shares during the last quarter. Arlington Trust Co LLC grew its holdings in Alphabet by 0.4% during the 4th quarter. Arlington Trust Co LLC now owns 14,423 shares of the information services provider's stock worth $2,747,000 after acquiring an additional 52 shares in the last quarter. Ethos Financial Group LLC increased its holdings in Alphabet by 0.7% during the fourth quarter. Ethos Financial Group LLC now owns 7,300 shares of the information services provider's stock valued at $1,395,000 after buying an additional 53 shares during the period. Hutchinson Capital Management CA increased its holdings in shares of 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 period. Finally, Tempus Wealth Planning LLC raised its holdings in Alphabet by 1.7% in the fourth quarter. Tempus Wealth Planning LLC now owns 3,337 shares of the information services provider's stock worth $636,000 after purchasing an additional 55 shares in the last quarter. Institutional investors own 27.26% of the company's stock.
Insider Buying and Selling at Alphabet
In other news, CAO Amie Thuener O'toole sold 673 shares of the company's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total value of $104,537.09. Following the completion of the sale, the chief accounting officer now directly owns 15,303 shares of the company's stock, valued at $2,377,014.99. This represents a 4.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $168.71, for a total value of $5,483,075.00. Following the sale, the chief executive officer now directly owns 2,587,696 shares in the company, valued at $436,570,192.16. The trade was a 1.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 195,770 shares of company stock valued at $32,036,638 in the last quarter. Corporate insiders own 12.99% of the company's stock.
Alphabet Stock Up 3.0%
Shares of GOOG stock traded up $5.11 on Friday, reaching $174.92. 22,239,619 shares of the company's stock traded hands, compared to its average volume of 20,342,002. The business's 50 day moving average price is $161.56 and its two-hundred day moving average price is $176.09. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The company has a market capitalization of $2.12 trillion, a P/E ratio of 21.73, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70.
Alphabet (NASDAQ:GOOG - Get Free Report) last posted its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The company had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same period in the previous year, the firm posted $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, equities analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.
Alphabet Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be issued a dividend of $0.21 per share. This is an increase from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.48%. Alphabet's payout ratio is presently 9.36%.
Analyst Upgrades and Downgrades
GOOG has been the subject of a number of research analyst reports. Cantor Fitzgerald reiterated a "neutral" rating and issued a $171.00 price target on shares of Alphabet in a research note on Friday, April 25th. Scotiabank lowered their price objective on Alphabet from $232.00 to $200.00 and set a "sector outperform" rating on the stock in a research report on Monday, April 21st. Susquehanna reissued a "positive" rating on shares of Alphabet in a report on Friday, May 2nd. Tigress Financial reiterated a "strong-buy" rating on shares of Alphabet in a research report on Friday, May 2nd. Finally, Rosenblatt Securities raised Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have issued a buy rating and five have given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $204.88.
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Alphabet Company Profile
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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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