Fountainhead AM LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 26.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,439 shares of the information services provider's stock after buying an additional 1,576 shares during the quarter. Fountainhead AM LLC's holdings in Alphabet were worth $1,162,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of GOOG. ARQ Wealth Advisors LLC increased its holdings in Alphabet by 39.3% during the 4th quarter. ARQ Wealth Advisors LLC now owns 4,964 shares of the information services provider's stock worth $945,000 after purchasing an additional 1,400 shares in the last quarter. Independence Bank of Kentucky grew its holdings in shares of Alphabet by 10.2% in the first quarter. Independence Bank of Kentucky now owns 14,907 shares of the information services provider's stock valued at $2,329,000 after acquiring an additional 1,376 shares in the last quarter. Harvest Investment Services LLC grew its holdings in shares of Alphabet by 3.3% in the fourth quarter. Harvest Investment Services LLC now owns 4,329 shares of the information services provider's stock valued at $824,000 after acquiring an additional 138 shares in the last quarter. Fermata Advisors LLC grew its holdings in shares of Alphabet by 2.7% in the first quarter. Fermata Advisors LLC now owns 9,771 shares of the information services provider's stock valued at $1,527,000 after acquiring an additional 259 shares in the last quarter. Finally, jvl associates llc grew its holdings in shares of Alphabet by 3.5% in the first quarter. jvl associates llc now owns 10,055 shares of the information services provider's stock valued at $1,571,000 after acquiring an additional 343 shares in the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities analysts have weighed in on the company. Susquehanna reissued a "positive" rating on shares of Alphabet in a report on Friday, May 2nd. Citigroup reissued a "sell" rating on shares of Alphabet in a report on Wednesday, April 23rd. Raymond James Financial reissued an "outperform" rating on shares of Alphabet in a report on Wednesday, July 9th. BNP Paribas downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 26th. Finally, Wells Fargo & Company reissued an "equal weight" rating on shares of Alphabet in a research note on Wednesday, July 9th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $208.40.
Read Our Latest Stock Analysis on GOOG
Insiders Place Their Bets
In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the company's stock in a transaction dated 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 transaction, the director directly owned 261,966 shares in the company, valued at $45,844,050. This represents a 3.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John L. Hennessy sold 600 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 transaction of $105,000.00. Following the transaction, the director owned 6,813 shares in the company, valued at approximately $1,192,275. This represents a 8.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 215,843 shares of company stock worth $37,288,490 in the last three months. Corporate insiders own 12.99% of the company's stock.
Alphabet Price Performance
Shares of NASDAQ GOOG traded up $1.24 during mid-day trading on Friday, hitting $185.94. 20,915,424 shares of the company's stock traded hands, compared to its average volume of 21,587,144. The company's 50-day moving average is $174.02 and its two-hundred day moving average is $174.72. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. The company has a market capitalization of $2.26 trillion, a P/E ratio of 20.73, a PEG ratio of 1.29 and a beta of 1.01. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70.
Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share 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 company had revenue of $90.23 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same period in the prior year, the company posted $1.89 EPS. The firm's revenue for the quarter was up 12.0% on a year-over-year basis. On average, equities analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.
Alphabet Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were paid a $0.21 dividend. This is an increase from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend was Monday, June 9th. Alphabet's dividend payout ratio is currently 9.36%.
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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