Fayez Sarofim & Co cut its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 0.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,639,646 shares of the information services provider's stock after selling 14,550 shares during the period. Alphabet accounts for approximately 3.0% of Fayez Sarofim & Co's holdings, making the stock its 6th biggest holding. Fayez Sarofim & Co owned approximately 0.06% of Alphabet worth $1,203,776,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in the company. Principia Wealth Advisory LLC increased its stake in Alphabet by 111.8% during the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after acquiring an additional 85 shares during the last quarter. MorganRosel Wealth Management LLC purchased a new stake in shares of Alphabet during the 1st quarter worth about $26,000. LSV Asset Management acquired a new stake in Alphabet during the 4th quarter worth approximately $27,000. Goodman Advisory Group LLC purchased a new position in Alphabet in the first quarter valued at approximately $32,000. Finally, Greykasell Wealth Strategies Inc. acquired a new position in Alphabet during the first quarter valued at approximately $32,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity
In other news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $196.23, for a total transaction of $6,377,475.00. Following the transaction, the chief executive officer directly owned 2,494,892 shares of the company's stock, valued at approximately $489,572,657.16. This trade represents a 1.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kavitark Ram Shriram sold 15,000 shares of the company's stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $2,786,400.00. Following the completion of the sale, the director directly owned 240,400 shares of the company's stock, valued at approximately $44,656,704. This represents a 5.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 273,219 shares of company stock worth $49,474,273 over the last ninety days. 12.99% of the stock is owned by company insiders.
Alphabet Trading Up 0.8%
Shares of NASDAQ GOOG opened at $196.92 on Thursday. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70. The company has a market cap of $2.38 trillion, a price-to-earnings ratio of 20.97, a price-to-earnings-growth ratio of 1.30 and a beta of 1.02. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock's 50 day simple moving average is $180.79 and its 200 day simple moving average is $174.68.
Alphabet (NASDAQ:GOOG - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.12 by $0.19. The company had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The firm's quarterly revenue was up 13.8% compared to the same quarter last year. During the same period last year, the business posted $1.89 earnings per share. Equities research analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.
Alphabet Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be given a $0.21 dividend. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.4%. Alphabet's dividend payout ratio is 8.95%.
Analysts Set New Price Targets
Several equities research analysts have recently issued reports on the stock. The Goldman Sachs Group reissued a "buy" rating and issued a $220.00 price objective on shares of Alphabet in a research report on Monday, June 2nd. Citigroup reissued a "sell" rating on shares of Alphabet in a research report on Wednesday, April 23rd. Cantor Fitzgerald reiterated a "neutral" rating and issued a $171.00 target price on shares of Alphabet in a research note on Friday, April 25th. Raymond James Financial restated an "outperform" rating and issued a $210.00 price target (up previously from $185.00) on shares of Alphabet in a report on Thursday, July 24th. Finally, Barclays reaffirmed a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $215.19.
Read Our Latest Stock Analysis on GOOG
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.
Further Reading
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