Gordian Capital Singapore Pte Ltd boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 9.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 46,130 shares of the information services provider's stock after buying an additional 4,100 shares during the period. Alphabet accounts for 4.5% of Gordian Capital Singapore Pte Ltd's investment portfolio, making the stock its 5th largest position. Gordian Capital Singapore Pte Ltd's holdings in Alphabet were worth $8,790,000 as of its most recent filing with the SEC.
Other large investors also recently added to or reduced their stakes in the company. GPS Wealth Strategies Group LLC raised its stake in Alphabet by 6.8% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 16,248 shares of the information services provider's stock worth $3,094,000 after purchasing an additional 1,041 shares during the period. Harvest Investment Services LLC grew its stake in shares of Alphabet by 3.3% in the 4th 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 period. North Forty Two & Co. acquired a new stake in shares of Alphabet during the 4th quarter worth approximately $281,000. SageView Advisory Group LLC raised its position in shares of Alphabet by 140.6% during the 4th quarter. SageView Advisory Group LLC now owns 14,734 shares of the information services provider's stock valued at $2,806,000 after buying an additional 8,610 shares during the period. Finally, Requisite Capital Management LLC acquired a new position in Alphabet in the fourth quarter valued at approximately $927,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on the company. Rosenblatt Securities raised Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. Needham & Company LLC downgraded Alphabet from a "buy" rating to a "cautious" rating in a research report on Friday, May 2nd. Morgan Stanley restated an "overweight" rating on shares of Alphabet in a report on Wednesday, February 5th. Citigroup reaffirmed a "sell" rating on shares of Alphabet in a research note on Wednesday, April 23rd. Finally, Benchmark reissued a "negative" rating on shares of Alphabet in a research note on Wednesday, February 5th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $203.94.
Check Out Our Latest Stock Report on GOOG
Alphabet Stock Performance
NASDAQ:GOOG opened at $170.06 on Thursday. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $208.70. The company has a fifty day simple moving average of $160.23 and a two-hundred day simple moving average of $176.62. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a market cap of $2.06 trillion, a price-to-earnings ratio of 21.13, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01.
Alphabet (NASDAQ:GOOG - Get Free Report) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The firm had revenue of $90.23 billion during the quarter, compared to analyst estimates of $89.30 billion. During the same period last year, the business posted $1.89 earnings per share. Alphabet's 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 fiscal 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 given a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, June 9th. 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 dividend yield of 0.49%. Alphabet's payout ratio is currently 9.36%.
Insider Buying and Selling
In other news, insider Ruth Porat sold 17,690 shares of Alphabet stock in a transaction on Friday, February 21st. The shares were sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the completion of the sale, the insider now directly owns 1,449,286 shares of the company's stock, valued at approximately $265,914,995.28. The trade was a 1.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $155.90, for a total transaction of $5,066,750.00. Following the transaction, the chief executive officer now owns 2,652,696 shares of the company's stock, valued at approximately $413,555,306.40. The trade was a 1.21% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 129,744 shares of company stock worth $20,968,366. Company insiders own 12.99% of the company's stock.
Alphabet Company 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
Market downturns give many investors pause, and for good reason. Wondering how to offset this risk? Enter your email address to learn more about using beta to protect your portfolio.
Get This Free Report
