Detalus Advisors LLC boosted its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 16.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,541 shares of the information services provider's stock after purchasing an additional 1,729 shares during the period. Detalus Advisors LLC's holdings in Alphabet were worth $1,939,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also recently modified their holdings of GOOGL. Arbor Capital Management Inc. ADV raised its holdings in Alphabet by 3.8% during the first quarter. Arbor Capital Management Inc. ADV now owns 11,452 shares of the information services provider's stock worth $1,787,000 after purchasing an additional 415 shares during the last quarter. Oregon Pacific Wealth Management LLC boosted its position in shares of Alphabet by 7.5% in the 1st quarter. Oregon Pacific Wealth Management LLC now owns 5,093 shares of the information services provider's stock worth $788,000 after buying an additional 354 shares in the last quarter. Harbour Trust & Investment Management Co boosted its position in shares of Alphabet by 0.3% in the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider's stock worth $4,187,000 after buying an additional 80 shares in the last quarter. Alterna Wealth Management Inc. grew its stake in Alphabet by 15.3% in the 1st quarter. Alterna Wealth Management Inc. now owns 7,655 shares of the information services provider's stock valued at $1,184,000 after acquiring an additional 1,018 shares during the last quarter. Finally, Yukon Wealth Management Inc. purchased a new position in Alphabet during the 1st quarter valued at about $1,676,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction on 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 transaction, the chief executive officer directly owned 2,559,892 shares in the company, valued at $456,991,919.84. This represents a 1.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the firm's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $105,000.00. Following the completion of the sale, the director owned 6,813 shares in the company, valued at $1,192,275. The trade was a 8.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 215,643 shares of company stock valued at $36,330,928. Insiders own 11.64% of the company's stock.
Alphabet Stock Performance
NASDAQ:GOOGL traded up $1.00 during trading hours on Thursday, reaching $177.62. 29,191,793 shares of the stock were exchanged, compared to its average volume of 31,845,344. The stock has a market capitalization of $2.16 trillion, a P/E ratio of 19.80, a P/E/G ratio of 1.24 and a beta of 1.00. The firm has a 50 day simple moving average of $169.67 and a 200-day simple moving average of $173.69. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05.
Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.79. The firm had revenue of $76.49 billion for 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%. During the same period last year, the business posted $1.89 earnings per share. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
Alphabet Increases Dividend
The business 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. 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 annualized dividend and a dividend yield of 0.47%. Alphabet's dividend payout ratio is 9.36%.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on GOOGL. Piper Sandler increased their price target on shares of Alphabet from $185.00 to $195.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. Rosenblatt Securities reaffirmed a "neutral" rating and issued a $189.00 target price on shares of Alphabet in a research note on Wednesday, May 21st. Susquehanna lowered their target price on Alphabet from $225.00 to $220.00 and set a "positive" rating on the stock in a report on Friday, April 25th. Jefferies Financial Group cut their price target on Alphabet from $235.00 to $200.00 and set a "buy" rating for the company in a report on Monday, March 31st. Finally, JPMorgan Chase & Co. decreased their price objective on Alphabet from $220.00 to $180.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $200.13.
Get Our Latest 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.
Further Reading
Before you consider Alphabet, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Alphabet wasn't on the list.
While Alphabet currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
