Financial Counselors Inc. cut its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 2.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 398,669 shares of the information services provider's stock after selling 8,036 shares during the period. Alphabet accounts for 0.9% of Financial Counselors Inc.'s holdings, making the stock its 26th biggest position. Financial Counselors Inc.'s holdings in Alphabet were worth $62,284,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Alphabet during the fourth quarter worth approximately $5,166,070,000. GAMMA Investing LLC lifted its holdings in Alphabet by 18,562.3% during the first quarter. GAMMA Investing LLC now owns 14,323,323 shares of the information services provider's stock valued at $2,237,733,000 after purchasing an additional 14,246,573 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Alphabet during the fourth quarter valued at $1,551,533,000. Northern Trust Corp grew its position in shares of Alphabet by 16.1% in the fourth quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock valued at $10,873,751,000 after purchasing an additional 7,917,625 shares during the period. Finally, GQG Partners LLC increased its stake in shares of Alphabet by 181,679.1% during the fourth quarter. GQG Partners LLC now owns 7,225,721 shares of the information services provider's stock worth $1,376,066,000 after purchasing an additional 7,221,746 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.
Insider Transactions at Alphabet
In related news, Director John L. Hennessy sold 600 shares of Alphabet 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 sale, the director owned 6,813 shares in the company, valued at approximately $1,192,275. This trade represents a 8.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of the company's stock in a transaction 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 transaction, the director owned 261,966 shares in the company, valued at $45,844,050. This trade represents a 3.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 215,643 shares of company stock worth $36,330,928. 12.99% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on the stock. BNP Paribas lowered shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. Citizens Jmp raised Alphabet from a "hold" rating to a "strong-buy" rating in a report on Thursday, June 26th. Cantor Fitzgerald restated a "neutral" rating and issued a $171.00 target price on shares of Alphabet in a research report on Friday, April 25th. Westpark Capital reaffirmed a "buy" rating and issued a $210.00 price target on shares of Alphabet in a research note on Friday, April 25th. Finally, The Goldman Sachs Group reissued a "buy" rating and issued a $220.00 price objective on shares of Alphabet in a research note on Monday, June 2nd. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have given a buy rating and six have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $206.38.
View Our Latest Report on Alphabet
Alphabet Price Performance
NASDAQ:GOOG opened at $180.22 on Monday. The company has a market capitalization of $2.19 trillion, a P/E ratio of 20.09, a P/E/G ratio of 1.27 and a beta of 1.01. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $208.70. The stock's fifty day moving average is $169.97 and its two-hundred day moving average is $175.40.
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 (EPS) for the quarter, beating the consensus estimate 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 net margin of 30.86% and a return on equity of 34.54%. Alphabet's revenue was up 12.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.89 EPS. Equities analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.
Alphabet Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.47%. This is an increase from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. Alphabet's payout ratio is 9.36%.
Alphabet Company 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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