Floyd Financial Group LLC raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 25.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,165 shares of the information services provider's stock after purchasing an additional 5,478 shares during the period. Alphabet accounts for about 3.8% of Floyd Financial Group LLC's holdings, making the stock its 8th largest holding. Floyd Financial Group LLC's holdings in Alphabet were worth $4,201,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. JPMorgan Chase & Co. raised its stake in Alphabet by 7.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider's stock valued at $10,559,240,000 after purchasing an additional 4,567,275 shares during the period. 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 valued at $299,000 after acquiring an additional 78 shares during the last quarter. Capital & Planning LLC increased its stake in Alphabet by 34.3% in the 4th quarter. Capital & Planning LLC now owns 4,383 shares of the information services provider's stock worth $830,000 after buying an additional 1,119 shares during the period. Eagle Capital Management LLC raised its stake in shares of Alphabet by 0.7% during the fourth quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider's stock valued at $9,490,000 after acquiring an additional 371 shares in the last quarter. Finally, Brighton Jones LLC lifted its holdings in shares of Alphabet by 3.9% in the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock worth $20,886,000 after buying an additional 4,110 shares during the period. Institutional investors own 40.03% of the company's stock.
Alphabet Stock Performance
Alphabet stock traded up $0.16 during mid-day trading on Thursday, hitting $168.21. 34,550,448 shares of the company's stock traded hands, compared to its average volume of 30,080,243. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. The stock has a market cap of $2.04 trillion, a price-to-earnings ratio of 20.90, a P/E/G ratio of 1.34 and a beta of 1.01. The firm has a 50 day simple moving average of $159.54 and a two-hundred day simple moving average of $174.43. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84.
Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. The company had revenue of $76.49 billion during the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. During the same quarter in the previous year, the company posted $1.89 earnings per share. On average, research analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.
Alphabet Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be paid a $0.21 dividend. This is a boost from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.50%. The ex-dividend date is Monday, June 9th. Alphabet's payout ratio is 9.36%.
Wall Street Analyst Weigh In
GOOGL has been the subject of a number of recent analyst reports. Sanford C. Bernstein raised their price objective on Alphabet from $165.00 to $185.00 and gave the stock a "market perform" rating in a research report on Friday, April 25th. Roth Mkm restated a "buy" rating and issued a $220.00 target price on shares of Alphabet in a research note on Wednesday, March 19th. KeyCorp raised 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. Mizuho dropped their price target on shares of Alphabet from $230.00 to $205.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Finally, DA Davidson decreased their target price on Alphabet from $200.00 to $160.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Ten equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat.com, Alphabet has a consensus rating of "Moderate Buy" and a consensus price target of $199.75.
View Our Latest Stock Analysis on Alphabet
Insider Buying and Selling at Alphabet
In other news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00. Following the transaction, the chief executive officer now owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. The trade was a 1.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O'toole sold 673 shares of the firm's stock in a transaction dated Tuesday, April 1st. The shares were 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 of the company's stock, valued at approximately $2,377,014.99. This represents a 4.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 195,770 shares of company stock valued at $32,036,638 in the last three months. Corporate insiders own 11.64% of the company's stock.
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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