Sequoia Financial Advisors LLC increased its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 2.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 553,827 shares of the information services provider's stock after buying an additional 13,734 shares during the quarter. Sequoia Financial Advisors LLC's holdings in Alphabet were worth $86,524,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. LaFleur & Godfrey LLC lifted its holdings in Alphabet by 1.2% in the 4th quarter. LaFleur & Godfrey LLC now owns 31,967 shares of the information services provider's stock worth $6,088,000 after buying an additional 380 shares in the last quarter. Brighton Jones LLC grew its stake in shares of Alphabet by 5.6% during the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider's stock valued at $22,901,000 after acquiring an additional 6,410 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new stake in shares of Alphabet during the fourth quarter valued at about $204,262,000. Ascent Wealth Partners LLC increased its position in shares of Alphabet by 246.2% during the fourth quarter. Ascent Wealth Partners LLC now owns 5,698 shares of the information services provider's stock worth $1,085,000 after acquiring an additional 4,052 shares during the last quarter. Finally, 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 worth $96,465,000 after acquiring an additional 20,855 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.
Alphabet Stock Performance
Shares of GOOG opened at $174.43 on Friday. The firm has a fifty day moving average of $167.33 and a 200-day moving average of $176.22. The company has a market cap of $2.12 trillion, a price-to-earnings ratio of 19.45, a price-to-earnings-growth ratio of 1.21 and a beta of 1.01. 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 Inc. has a 1 year low of $142.66 and a 1 year high of $208.70.
Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The firm had revenue of $90.23 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same period last year, the firm posted $1.89 EPS. Alphabet's quarterly revenue was up 12.0% compared to the same quarter last year. As a group, equities analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.
Alphabet Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend was Monday, June 9th. This is a boost from Alphabet's previous quarterly dividend of $0.20. Alphabet's payout ratio is 9.36%.
Analysts Set New Price Targets
A number of brokerages have weighed in on GOOG. Needham & Company LLC lowered Alphabet from a "buy" rating to a "cautious" rating in a research note on Friday, May 2nd. KeyCorp decreased 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. Tigress Financial reiterated a "strong-buy" rating on shares of Alphabet in a research note on Friday, May 2nd. JPMorgan Chase & Co. boosted their price objective on Alphabet from $180.00 to $195.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Finally, Westpark Capital reaffirmed a "buy" rating and set a $210.00 target price on shares of Alphabet in a report on Friday, April 25th. Three equities research analysts have rated the stock with a sell rating, five have given 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 a consensus rating of "Moderate Buy" and an average price target of $204.88.
Check Out Our Latest Research Report on GOOG
Insider Transactions at Alphabet
In related news, CAO Amie Thuener O'toole sold 673 shares of Alphabet stock in a transaction dated Tuesday, April 1st. The shares were 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. The trade was a 4.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 completion of the transaction, the director now owns 7,613 shares of the company's stock, valued at $1,232,544.70. This represents a 2.56% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 216,195 shares of company stock worth $35,764,898. Company insiders own 12.99% of the company's stock.
Alphabet Profile
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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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