Confluence Investment Management LLC lowered its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 1.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 283,770 shares of the information services provider's stock after selling 4,143 shares during the period. Confluence Investment Management LLC's holdings in Alphabet were worth $44,333,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of GOOG. Modus Advisors LLC raised its holdings in shares of Alphabet by 0.4% during the 1st quarter. Modus Advisors LLC now owns 39,673 shares of the information services provider's stock valued at $6,198,000 after buying an additional 162 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Alphabet by 2.0% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 243,464 shares of the information services provider's stock valued at $38,036,000 after buying an additional 4,714 shares in the last quarter. Milestone Asset Management Group LLC purchased a new position in shares of Alphabet during the 4th quarter valued at about $812,000. Mascagni Wealth Management Inc. purchased a new position in shares of Alphabet during the 4th quarter valued at about $206,000. Finally, Prostatis Group LLC raised its holdings in shares of Alphabet by 10.7% during the 4th quarter. Prostatis Group LLC now owns 2,167 shares of the information services provider's stock valued at $413,000 after buying an additional 210 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.
Analysts Set New Price Targets
GOOG has been the topic of a number of research reports. Rosenblatt Securities raised Alphabet from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. KeyCorp decreased their price objective on Alphabet from $202.00 to $185.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. UBS Group decreased their price objective on Alphabet from $209.00 to $173.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. The Goldman Sachs Group restated a "buy" rating on shares of Alphabet in a research report on Wednesday, February 5th. Finally, Needham & Company LLC lowered Alphabet from a "buy" rating to a "cautious" rating in a research report on Friday, May 2nd. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat, Alphabet presently has an average rating of "Moderate Buy" and an average target price of $203.94.
View Our Latest Analysis on GOOG
Insider Activity
In other news, Director Kavitark Ram Shriram sold 10,500 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $1,837,500.00. Following the completion of the transaction, the director now owns 261,966 shares in the company, valued at $45,844,050. This trade represents a 3.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $105,000.00. Following the completion of the transaction, the director now owns 6,813 shares of the company's stock, valued at approximately $1,192,275. The trade was a 8.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 164,533 shares of company stock worth $26,772,774 in the last quarter. 12.99% of the stock is owned by company insiders.
Alphabet Trading Down 1.2%
Shares of GOOG stock traded down $2.09 during trading hours on Friday, reaching $170.87. The company's stock had a trading volume of 36,230,934 shares, compared to its average volume of 20,270,754. The stock has a market capitalization of $2.07 trillion, a P/E ratio of 21.23, a P/E/G ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a one year low of $142.66 and a one year high of $208.70. The firm's fifty day simple moving average is $160.88 and its 200 day simple moving average is $176.30. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.
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, topping analysts' consensus estimates of $2.02 by $0.79. The firm had revenue of $90.23 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The business's quarterly revenue was up 12.0% compared to the same quarter last year. During the same period last year, the company earned $1.89 EPS. Equities research analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.
Alphabet Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend is Monday, June 9th. This is a boost from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio (DPR) is presently 9.36%.
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.
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