Joel Isaacson & Co. LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 0.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 495,951 shares of the information services provider's stock after buying an additional 1,731 shares during the period. Alphabet accounts for approximately 3.5% of Joel Isaacson & Co. LLC's portfolio, making the stock its 7th largest holding. Joel Isaacson & Co. LLC's holdings in Alphabet were worth $77,482,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Ethos Financial Group LLC increased its stake in shares of Alphabet by 0.7% in the fourth quarter. Ethos Financial Group LLC now owns 7,300 shares of the information services provider's stock worth $1,395,000 after purchasing an additional 53 shares during the period. Hutchinson Capital Management CA grew its holdings in 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 buying an additional 54 shares during the last quarter. M. Kulyk & Associates LLC increased its position in Alphabet by 0.9% in the 4th quarter. M. Kulyk & Associates LLC now owns 6,445 shares of the information services provider's stock worth $1,227,000 after buying an additional 56 shares during the period. Retirement Planning Co of New England Inc. increased its position in Alphabet by 0.4% in the 4th quarter. Retirement Planning Co of New England Inc. now owns 15,977 shares of the information services provider's stock worth $3,043,000 after buying an additional 56 shares during the period. Finally, Concentrum Wealth Management lifted its holdings in shares of Alphabet by 0.3% during the fourth quarter. Concentrum Wealth Management now owns 17,328 shares of the information services provider's stock worth $3,300,000 after buying an additional 57 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.
Alphabet Stock Down 1.4%
Shares of NASDAQ:GOOG traded down $2.51 during mid-day trading on Tuesday, hitting $174.88. 6,878,262 shares of the company traded hands, compared to its average volume of 21,028,698. The stock has a 50-day moving average price of $168.37 and a two-hundred day moving average price of $175.80. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70. The stock has a market cap of $2.12 trillion, a P/E ratio of 19.49, a P/E/G ratio of 1.26 and a beta of 1.01. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03.
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 analysts' consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The firm had revenue of $90.23 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter in the previous year, the business earned $1.89 EPS. The company's revenue was up 12.0% compared to the same quarter last year. On average, equities research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.
Alphabet Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were paid a dividend of $0.21 per share. This is an increase from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.48%. Alphabet's dividend payout ratio is presently 9.36%.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on GOOG. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $171.00 target price on shares of Alphabet in a research report on Friday, April 25th. Rosenblatt Securities upgraded shares of Alphabet from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. JPMorgan Chase & Co. upped their price objective on shares of Alphabet from $180.00 to $195.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. KeyCorp decreased their target price on Alphabet from $202.00 to $185.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. Finally, Oppenheimer upped their price target on Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating 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 six have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $206.38.
Get Our Latest Stock Analysis on GOOG
Insider Buying and Selling
In related news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $176.68, for a total transaction of $5,742,100.00. Following the sale, the chief executive officer directly owned 2,555,196 shares in the company, valued at approximately $451,452,029.28. The trade was a 1.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 9,000 shares of the stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,575,000.00. Following the completion of the sale, the director directly owned 255,400 shares in the company, valued at approximately $44,695,000. The trade was a 3.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 215,643 shares of company stock valued at $35,682,228. 12.99% of the stock is owned by insiders.
About Alphabet
(
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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