K.J. Harrison & Partners Inc boosted its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 7.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 58,598 shares of the information services provider's stock after purchasing an additional 4,130 shares during the period. Alphabet makes up approximately 1.8% of K.J. Harrison & Partners Inc's holdings, making the stock its 10th largest position. K.J. Harrison & Partners Inc's holdings in Alphabet were worth $9,062,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in GOOGL. Wealth Group Ltd. grew its position in Alphabet by 5.2% in the 4th quarter. Wealth Group Ltd. now owns 1,582 shares of the information services provider's stock worth $299,000 after purchasing an additional 78 shares during the period. Eagle Capital Management LLC boosted its stake in shares of Alphabet by 0.7% during the 4th quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider's stock worth $9,490,000 after acquiring an additional 371 shares during the last quarter. Brighton Jones LLC boosted its stake in shares of Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock worth $20,886,000 after acquiring an additional 4,110 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new position in shares of Alphabet during the 4th quarter worth $154,716,000. Finally, Revolve Wealth Partners LLC boosted its stake in shares of Alphabet by 3.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock worth $2,826,000 after acquiring an additional 506 shares during the last quarter. Institutional investors own 40.03% of the company's stock.
Insider Transactions at Alphabet
In other news, Director Kavitark Ram Shriram sold 9,000 shares of the business's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $1,575,000.00. Following the sale, the director directly owned 255,400 shares in the company, valued at $44,695,000. The trade was a 3.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the completion of the sale, the chief executive officer owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. This trade represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 215,643 shares of company stock worth $36,330,928 in the last three months. Insiders own 11.64% of the company's stock.
Alphabet Price Performance
GOOGL stock traded up $0.44 during mid-day trading on Friday, hitting $179.08. The company had a trading volume of 21,689,729 shares, compared to its average volume of 31,547,766. The company has a market capitalization of $2.17 trillion, a price-to-earnings ratio of 19.96, a P/E/G ratio of 1.26 and a beta of 1.00. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. The company has a 50-day moving average price of $168.70 and a 200 day moving average price of $173.97.
Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly 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 net margin of 30.86% and a return on equity of 34.54%. The business had revenue of $76.49 billion for the quarter, compared to analysts' expectations of $89.30 billion. During the same quarter in the previous year, the company earned $1.89 EPS. On average, research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share 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 $0.21 dividend. The ex-dividend date was Monday, June 9th. This is an increase from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.47%. Alphabet's payout ratio is 9.36%.
Wall Street Analyst Weigh In
GOOGL has been the topic of several analyst reports. Wells Fargo & Company lifted their price target on shares of Alphabet from $167.00 to $175.00 and gave the stock an "equal weight" rating in a research note on Friday, April 25th. BNP Paribas cut shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. Roth Mkm reiterated a "buy" rating and set a $220.00 price target on shares of Alphabet in a research note on Wednesday, March 19th. Needham & Company LLC reiterated a "buy" rating and set a $178.00 price target on shares of Alphabet in a research note on Friday, April 25th. Finally, KeyCorp lifted their price target on shares of Alphabet from $185.00 to $195.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. Ten investment analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat, Alphabet currently has an average rating of "Moderate Buy" and a consensus target price of $199.95.
Read Our Latest Stock Analysis on Alphabet
Alphabet Company 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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