SouthState Corp lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 17.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 164,028 shares of the information services provider's stock after buying an additional 24,453 shares during the period. Alphabet makes up approximately 1.2% of SouthState Corp's holdings, making the stock its 18th largest position. SouthState Corp's holdings in Alphabet were worth $25,626,000 as of its most recent filing with the SEC.
Several other hedge funds have also made changes to their positions in GOOG. Vanguard Group Inc. lifted its position in Alphabet by 2.4% in the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider's stock valued at $64,299,725,000 after purchasing an additional 9,687,855 shares during the period. JPMorgan Chase & Co. lifted its position in Alphabet by 9.9% in the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider's stock valued at $15,971,861,000 after purchasing an additional 9,243,959 shares during the period. Capital International Investors lifted its position in Alphabet by 6.7% in the fourth quarter. Capital International Investors now owns 91,236,069 shares of the information services provider's stock valued at $17,376,706,000 after purchasing an additional 5,758,244 shares during the period. Northern Trust Corp lifted its position in shares of Alphabet by 16.1% during the 4th quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock valued at $10,873,751,000 after acquiring an additional 7,917,625 shares during the period. Finally, Capital Research Global Investors boosted its stake in shares of Alphabet by 0.8% during the 4th quarter. Capital Research Global Investors now owns 39,148,500 shares of the information services provider's stock worth $7,455,571,000 after acquiring an additional 294,556 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.
Alphabet Trading Down 0.2%
NASDAQ:GOOG traded down $0.46 on Monday, hitting $201.63. 16,675,980 shares of the stock were exchanged, compared to its average volume of 24,727,342. The stock has a market cap of $2.44 trillion, a PE ratio of 21.52, a PEG ratio of 1.34 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 has a fifty day moving average of $181.90 and a 200-day moving average of $174.35. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70.
Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.12 by $0.19. The company had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The firm's revenue was up 13.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.89 earnings per share. As a group, equities analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.
Alphabet Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. Alphabet's payout ratio is presently 8.95%.
Analysts Set New Price Targets
GOOG has been the subject of several research analyst reports. Needham & Company LLC downgraded Alphabet from a "buy" rating to a "cautious" rating in a research note on Friday, May 2nd. Westpark Capital reissued a "buy" rating and issued a $210.00 target price on shares of Alphabet in a report on Friday, April 25th. Rosenblatt Securities raised Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. Barclays reissued a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, Roth Capital reaffirmed a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet currently has an average rating of "Moderate Buy" and a consensus price target of $215.19.
View Our Latest Report on Alphabet
Insider Activity at Alphabet
In related news, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the transaction, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the transaction, the director owned 243,400 shares in the company, valued at $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 274,219 shares of company stock worth $49,674,273. 12.99% of the stock is currently owned by corporate insiders.
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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