KPP Advisory Services LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 26.1% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 8,918 shares of the information services provider's stock after acquiring an additional 1,845 shares during the period. KPP Advisory Services LLC's holdings in Alphabet were worth $1,393,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in GOOG. ARQ Wealth Advisors LLC raised its position in shares of Alphabet by 39.3% in the fourth quarter. ARQ Wealth Advisors LLC now owns 4,964 shares of the information services provider's stock valued at $945,000 after buying an additional 1,400 shares during the last quarter. Independence Bank of Kentucky raised its position 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 buying an additional 1,376 shares during the last quarter. Harvest Investment Services LLC raised its position 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 buying an additional 138 shares during the last quarter. North Forty Two & Co. acquired a new stake in shares of Alphabet in the fourth quarter valued at about $281,000. Finally, Fermata Advisors LLC raised its position 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 buying an additional 259 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
GOOG has been the subject of a number of recent research reports. Needham & Company LLC cut shares of Alphabet from a "buy" rating to a "cautious" rating in a research report on Friday, May 2nd. Tigress Financial reiterated a "strong-buy" rating on shares of Alphabet in a research report on Friday, May 2nd. The Goldman Sachs Group reiterated a "buy" rating and issued a $220.00 target price on shares of Alphabet in a research report on Monday, June 2nd. Cantor Fitzgerald reissued a "neutral" rating and issued a $171.00 price objective on shares of Alphabet in a report on Friday, April 25th. Finally, Citigroup reissued a "sell" rating on shares of Alphabet in a report on Wednesday, April 23rd. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $204.88.
Get Our Latest Stock Analysis on Alphabet
Insider Transactions at Alphabet
In other news, Director John L. Hennessy sold 200 shares of the stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $161.90, for a total transaction of $32,380.00. Following the sale, the director now owns 7,613 shares of the company's stock, valued at approximately $1,232,544.70. This represents a 2.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O'toole sold 673 shares of the stock in a transaction dated Tuesday, April 1st. The stock was 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 216,195 shares of company stock valued at $35,764,898. 12.99% of the stock is currently owned by corporate insiders.
Alphabet Trading Up 1.7%
Shares of GOOG stock opened at $174.43 on Friday. 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 firm has a market cap of $2.12 trillion, a PE ratio of 19.45, a price-to-earnings-growth ratio of 1.21 and a beta of 1.01. The company has a 50-day moving average of $167.33 and a two-hundred day moving average of $176.22. 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 announced its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.79. The company had revenue of $90.23 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. Alphabet's revenue was up 12.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.89 earnings per share. On average, analysts predict that Alphabet Inc. will post 8.89 EPS for the current 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 dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend was Monday, June 9th. This is a positive change from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio (DPR) is 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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
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
