Bender Robert & Associates grew its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 4.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 74,280 shares of the information services provider's stock after acquiring an additional 3,188 shares during the quarter. Alphabet accounts for 2.9% of Bender Robert & Associates' portfolio, making the stock its 10th biggest holding. Bender Robert & Associates' holdings in Alphabet were worth $11,605,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also added to or reduced their stakes in the stock. Sterling Financial Planning Inc. boosted its holdings in Alphabet by 2.6% in the fourth quarter. Sterling Financial Planning Inc. now owns 1,941 shares of the information services provider's stock worth $370,000 after acquiring an additional 50 shares in the last quarter. Ethos Financial Group LLC boosted its holdings in 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 acquiring an additional 53 shares in the last quarter. Hutchinson Capital Management CA boosted its holdings in Alphabet by 1.5% in the fourth quarter. Hutchinson Capital Management CA now owns 3,555 shares of the information services provider's stock worth $677,000 after acquiring an additional 54 shares in the last quarter. M. Kulyk & Associates LLC boosted its holdings in Alphabet by 0.9% in the fourth quarter. M. Kulyk & Associates LLC now owns 6,445 shares of the information services provider's stock worth $1,227,000 after acquiring an additional 56 shares in the last quarter. Finally, Retirement Planning Co of New England Inc. boosted its holdings in Alphabet by 0.4% in the fourth 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 acquiring an additional 56 shares in the last quarter. 27.26% of the stock is owned by institutional investors.
Alphabet Stock Performance
Alphabet stock traded down $3.25 during mid-day trading on Thursday, reaching $173.98. 32,365,363 shares of the stock traded hands, compared to its average volume of 20,579,241. The stock has a market capitalization of $2.11 trillion, a PE ratio of 19.40, a price-to-earnings-growth ratio of 1.23 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70. The business's 50-day moving average is $165.77 and its 200-day moving average is $176.42.
Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. The company had revenue of $90.23 billion during the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. Alphabet's revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.89 earnings per share. As a group, sell-side analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.
Alphabet Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were given a $0.21 dividend. This is a boost from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.48%. Alphabet's dividend payout ratio is presently 9.36%.
Insiders Place Their Bets
In other Alphabet news, CAO Amie Thuener O'toole sold 673 shares of the company's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total value of $104,537.09. Following the completion of the sale, the chief accounting officer now owns 15,303 shares in the company, valued at $2,377,014.99. This represents a 4.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the company's stock in a transaction dated 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 sale, the director now owns 261,966 shares of the company's stock, valued at approximately $45,844,050. The trade was a 3.85% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 195,570 shares of company stock worth $32,003,532 over the last quarter. 12.99% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
Several equities research analysts have commented on GOOG shares. Oppenheimer boosted their target price on Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a report on Friday, April 25th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $171.00 price target on shares of Alphabet in a report on Friday, April 25th. Westpark Capital reaffirmed a "buy" rating and set a $210.00 price target on shares of Alphabet in a report on Friday, April 25th. Tigress Financial reaffirmed a "strong-buy" rating on shares of Alphabet in a report on Friday, May 2nd. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and set a $220.00 price target on shares of Alphabet in a report on Monday, June 2nd. Three research analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $204.88.
Read Our Latest Stock Analysis on Alphabet
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.
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