Sustainable Growth Advisers LP lessened its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 2.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,801,414 shares of the information services provider's stock after selling 78,255 shares during the quarter. Alphabet comprises about 2.4% of Sustainable Growth Advisers LP's holdings, making the stock its 17th largest holding. Sustainable Growth Advisers LP's holdings in Alphabet were worth $437,665,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Concentrum Wealth Management boosted its stake in shares of Alphabet by 0.3% in the 4th quarter. Concentrum Wealth Management now owns 17,328 shares of the information services provider's stock valued at $3,300,000 after purchasing an additional 57 shares in the last quarter. JDM Financial Group LLC boosted its stake in shares of Alphabet by 10.6% in the 4th quarter. JDM Financial Group LLC now owns 593 shares of the information services provider's stock valued at $113,000 after purchasing an additional 57 shares in the last quarter. Kidder Stephen W boosted its stake in shares of Alphabet by 1.6% in the 4th quarter. Kidder Stephen W now owns 3,608 shares of the information services provider's stock valued at $687,000 after purchasing an additional 58 shares in the last quarter. Providence Wealth Advisors LLC boosted its stake in shares of Alphabet by 0.6% in the 4th quarter. Providence Wealth Advisors LLC now owns 10,102 shares of the information services provider's stock valued at $1,992,000 after purchasing an additional 60 shares in the last quarter. Finally, Objectivity Squared LLC boosted its stake in shares of Alphabet by 0.4% in the 1st quarter. Objectivity Squared LLC now owns 16,342 shares of the information services provider's stock valued at $2,605,000 after purchasing an additional 62 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.
Wall Street Analyst Weigh In
GOOG has been the topic of a number of research analyst reports. Oppenheimer raised their price target on shares of Alphabet from $200.00 to $220.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Cowen restated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Barclays restated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Cantor Fitzgerald restated a "neutral" rating and issued a $171.00 price target on shares of Alphabet in a research report on Friday, April 25th. Finally, Citigroup reiterated a "sell" rating on shares of Alphabet in a research note on Wednesday, April 23rd. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and five have assigned a strong buy rating to the company's stock. According to MarketBeat, Alphabet presently has an average rating of "Moderate Buy" and an average target price of $208.40.
View Our Latest Research Report on Alphabet
Insider Activity
In related news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total value of $5,992,350.00. Following the transaction, the chief executive officer owned 2,527,392 shares in the company, valued at $466,000,536.96. The trade was a 1.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of the company's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares in the company, valued at approximately $45,213,984. The trade was a 7.09% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 249,409 shares of company stock worth $43,523,710. Corporate insiders own 12.99% of the company's stock.
Alphabet Trading Down 0.0%
NASDAQ:GOOG traded down $0.04 during midday trading on Tuesday, reaching $191.11. 12,951,317 shares of the stock traded hands, compared to its average volume of 21,567,086. The stock has a market capitalization of $2.32 trillion, a P/E ratio of 21.30, a PEG ratio of 1.30 and a beta of 1.01. The company has a fifty day moving average of $174.02 and a 200 day moving average of $174.50. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $208.70. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77.
Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.79. The business had revenue of $90.23 billion for the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The firm's revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.89 earnings per share. On average, research analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.
Alphabet Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date was Monday, June 9th. This is a boost from Alphabet's previous quarterly dividend of $0.20. Alphabet's payout ratio is 9.36%.
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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