Pure Financial Advisors LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 6.4% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,420 shares of the information services provider's stock after acquiring an additional 1,532 shares during the period. Pure Financial Advisors LLC's holdings in Alphabet were worth $3,971,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of GOOG. Principia Wealth Advisory LLC grew its position in shares of 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. LSV Asset Management bought a new stake in Alphabet in the 4th quarter valued at about $27,000. WealthTrak Capital Management LLC acquired a new position in Alphabet during the 4th quarter valued at about $38,000. Mountain Hill Investment Partners Corp. bought a new position in Alphabet in the 4th quarter worth about $39,000. Finally, Noble Wealth Management PBC acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $43,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.
Alphabet Trading Up 1.7%
Alphabet stock opened at $174.43 on Friday. Alphabet Inc. has a 52 week low of $142.66 and a 52 week 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. The firm has a market capitalization of $2.12 trillion, a price-to-earnings ratio of 19.45, a P/E/G ratio of 1.21 and a beta of 1.01. The company has a 50 day moving average price of $167.33 and a 200 day moving average price of $176.22.
Alphabet (NASDAQ:GOOG - Get Free Report) last issued its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The business had revenue of $90.23 billion during the quarter, compared to analysts' expectations of $89.30 billion. During the same quarter last year, the firm posted $1.89 earnings per share. Alphabet's revenue was up 12.0% compared to the same quarter last year. Research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.
Alphabet Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, June 9th. This is a positive change from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.48%. Alphabet's dividend payout ratio (DPR) is presently 9.36%.
Insider Buying and Selling at Alphabet
In related news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $176.68, for a total transaction of $5,742,100.00. Following the completion of the sale, the chief executive officer now directly owns 2,555,196 shares in the company, valued at approximately $451,452,029.28. This trade represents a 1.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O'toole sold 673 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total transaction of $104,537.09. Following the completion of the transaction, the chief accounting officer now owns 15,303 shares in the company, valued at approximately $2,377,014.99. This represents a 4.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 216,195 shares of company stock valued at $35,764,898 in the last 90 days. 12.99% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
GOOG has been the subject of several analyst reports. Needham & Company LLC downgraded Alphabet from a "buy" rating to a "cautious" rating in a research report on Friday, May 2nd. JPMorgan Chase & Co. lifted their target price on Alphabet from $180.00 to $195.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Susquehanna reissued a "positive" rating on shares of Alphabet in a research note on Friday, May 2nd. Scotiabank lowered their price target on Alphabet from $232.00 to $200.00 and set a "sector outperform" rating on the stock in a report on Monday, April 21st. Finally, Rosenblatt Securities raised shares of Alphabet from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. Three analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat, Alphabet presently has a consensus rating of "Moderate Buy" and an average target price of $204.88.
View 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.
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Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOG - Free Report).
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