Bourgeon Capital Management LLC increased its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 8.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 121,820 shares of the information services provider's stock after purchasing an additional 9,427 shares during the quarter. Alphabet accounts for 4.1% of Bourgeon Capital Management LLC's portfolio, making the stock its 2nd largest position. Bourgeon Capital Management LLC's holdings in Alphabet were worth $18,838,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in Alphabet by 7.7% in the third quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider's stock worth $10,559,240,000 after purchasing an additional 4,567,275 shares in the last quarter. Wealth Group Ltd. raised its holdings in shares of Alphabet by 5.2% during the fourth 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. Capital & Planning LLC lifted its position in shares of 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 last quarter. Eagle Capital Management LLC boosted its holdings in shares of Alphabet by 0.7% in the 4th quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider's stock valued at $9,490,000 after buying an additional 371 shares during the period. Finally, Brighton Jones LLC grew its position 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 valued at $20,886,000 after buying an additional 4,110 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Alphabet
In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the sale, the chief executive officer now owns 2,717,696 shares of the company's stock, valued at approximately $430,917,877.76. This trade represents a 1.18% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O'toole sold 673 shares of the company's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total transaction of $104,537.09. Following the sale, the chief accounting officer now directly owns 15,303 shares in the company, valued at approximately $2,377,014.99. This trade represents a 4.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 163,270 shares of company stock worth $26,553,563 in the last 90 days. Insiders own 11.64% of the company's stock.
Alphabet Stock Up 1.1%
GOOGL stock traded up $1.87 during midday trading on Wednesday, reaching $168.05. 26,849,749 shares of the company's stock traded hands, compared to its average volume of 30,042,469. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm's fifty day moving average price is $159.26 and its 200-day moving average price is $174.47. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05. The company has a market cap of $2.04 trillion, a price-to-earnings ratio of 20.88, a P/E/G ratio of 1.34 and a beta of 1.01.
Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results 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 business had revenue of $76.49 billion during the quarter, compared to the consensus estimate 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 prior year, the company 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 company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.50%. This is a boost from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio (DPR) is currently 9.36%.
Wall Street Analysts Forecast Growth
Several equities analysts have recently commented on GOOGL shares. Westpark Capital reaffirmed a "buy" rating and set a $210.00 target price on shares of Alphabet in a report on Thursday, May 8th. DZ Bank lowered shares of Alphabet from a "buy" rating to a "hold" rating and set a $198.00 price target for the company. in a research report on Thursday, February 6th. Wells Fargo & Company lifted their price objective on shares of Alphabet from $167.00 to $175.00 and gave the company an "equal weight" rating in a research report on Friday, April 25th. Roth Mkm reissued a "buy" rating and set a $220.00 target price on shares of Alphabet in a research note on Wednesday, March 19th. Finally, Sanford C. Bernstein raised their price target on shares of Alphabet from $165.00 to $185.00 and gave the company a "market perform" rating in a research note on Friday, April 25th. Ten investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $199.75.
Read Our Latest Research Report on Alphabet
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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