Segment Wealth Management LLC boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 6.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 87,505 shares of the information services provider's stock after acquiring an additional 5,286 shares during the period. Segment Wealth Management LLC's holdings in Alphabet were worth $13,532,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of GOOGL. Norges Bank acquired a new position in shares of Alphabet during the 4th quarter worth about $24,383,677,000. FMR LLC raised its position in shares of Alphabet by 9.8% during the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock worth $47,025,322,000 after acquiring an additional 22,100,902 shares in the last quarter. GAMMA Investing LLC lifted its stake in Alphabet by 16,993.2% during the first quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider's stock worth $2,483,898,000 after purchasing an additional 15,968,487 shares during the last quarter. Northern Trust Corp boosted its holdings in Alphabet by 17.0% in the fourth quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock valued at $13,178,470,000 after purchasing an additional 10,135,430 shares in the last quarter. Finally, Capital Research Global Investors increased its stake in Alphabet by 16.2% in the fourth quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock valued at $13,635,878,000 after purchasing an additional 10,037,685 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research firms have weighed in on GOOGL. Tigress Financial raised their price objective on shares of Alphabet from $220.00 to $240.00 and gave the stock a "strong-buy" rating in a report on Wednesday, April 30th. Oppenheimer lifted their price target on shares of Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a research note on Friday, April 25th. Westpark Capital reissued a "buy" rating and issued a $210.00 price target on shares of Alphabet in a research report on Thursday, May 8th. Mizuho dropped their price objective on Alphabet from $230.00 to $205.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Finally, JMP Securities upgraded Alphabet from a "market perform" rating to a "market outperform" rating and set a $220.00 target price on the stock in a research report on Friday. Nine analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $199.95.
Check Out Our Latest Analysis on GOOGL
Insider Activity at Alphabet
In other news, Director John L. Hennessy sold 200 shares of the firm's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $161.90, for a total value of $32,380.00. Following the completion of the transaction, the director now owns 7,613 shares in the company, valued at $1,232,544.70. This trade represents a 2.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O'toole sold 673 shares of Alphabet stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total value of $104,537.09. Following the transaction, the chief accounting officer now directly owns 15,303 shares of the company's stock, valued at $2,377,014.99. This trade represents a 4.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold 216,195 shares of company stock worth $35,764,898 over the last 90 days. Company insiders own 11.64% of the company's stock.
Alphabet Stock Performance
Shares of GOOGL stock traded up $4.99 during trading hours on Friday, reaching $178.53. 107,360,667 shares of the company's stock were exchanged, compared to its average volume of 31,186,727. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. The company's 50 day moving average is $165.90 and its two-hundred day moving average is $174.57. The company has a market cap of $2.17 trillion, a P/E ratio of 19.90, a price-to-earnings-growth ratio of 1.09 and a beta of 1.01. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released 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. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The firm had revenue of $76.49 billion during the quarter, compared to analysts' expectations of $89.30 billion. During the same quarter in the prior year, the business posted $1.89 earnings per share. Equities research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.
Alphabet Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were paid a $0.21 dividend. This is a boost from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.47%. Alphabet's dividend payout ratio (DPR) is 9.36%.
Alphabet Profile
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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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