Wealthfront Advisers LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 8.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 639,880 shares of the information services provider's stock after acquiring an additional 47,290 shares during the period. Wealthfront Advisers LLC's holdings in Alphabet were worth $98,951,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the business. GPM Growth Investors Inc. increased its position in shares of Alphabet by 0.9% during the 1st quarter. GPM Growth Investors Inc. now owns 85,795 shares of the information services provider's stock valued at $13,267,000 after purchasing an additional 751 shares during the last quarter. First Business Financial Services Inc. grew its position in Alphabet by 6.3% during the 1st quarter. First Business Financial Services Inc. now owns 39,630 shares of the information services provider's stock worth $6,128,000 after acquiring an additional 2,355 shares during the last quarter. Pinkerton Retirement Specialists LLC bought a new position in Alphabet during the 1st quarter worth approximately $336,000. Patrick Mauro Investment Advisor INC. grew its position in Alphabet by 12.6% during the 1st quarter. Patrick Mauro Investment Advisor INC. now owns 33,289 shares of the information services provider's stock worth $5,148,000 after acquiring an additional 3,736 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its position in Alphabet by 1.9% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 170,876 shares of the information services provider's stock worth $26,424,000 after acquiring an additional 3,198 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.
Alphabet Stock Performance
NASDAQ:GOOGL traded up $1.01 during mid-day trading on Friday, hitting $193.18. 39,738,342 shares of the company traded hands, compared to its average volume of 41,427,228. The stock's fifty day moving average price is $175.77 and its 200-day moving average price is $172.93. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The company has a quick ratio of 1.77, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm has a market cap of $2.34 trillion, a price-to-earnings ratio of 20.57, a price-to-earnings-growth ratio of 1.33 and a beta of 1.00.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The business had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. During the same quarter in the previous year, the company posted $1.89 earnings per share. Research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
Alphabet Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be given a $0.21 dividend. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.43%. Alphabet's payout ratio is 8.95%.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on GOOGL shares. Roth Capital raised their price target on Alphabet from $205.00 to $210.00 and gave the stock a "buy" rating in a research report on Thursday. Stifel Nicolaus raised their price target on Alphabet from $200.00 to $218.00 and gave the stock a "buy" rating in a research report on Tuesday. BNP Paribas Exane reiterated a "neutral" rating and issued a $172.00 price objective on shares of Alphabet in a research report on Friday, June 27th. KeyCorp lifted their price objective on Alphabet from $215.00 to $230.00 and gave the stock an "overweight" rating in a research report on Thursday. Finally, JMP Securities lifted their price objective on Alphabet from $220.00 to $225.00 and gave the stock a "market outperform" rating in a research report on Thursday. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, Alphabet has a consensus rating of "Moderate Buy" and a consensus target price of $211.32.
Read Our Latest Stock Analysis on Alphabet
Insider Activity
In other news, 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 value of $5,801,900.00. Following the transaction, the chief executive officer directly owned 2,559,892 shares in the company, valued at $456,991,919.84. The trade was a 1.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of the business's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares in the company, valued at $45,213,984. The trade was a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 249,409 shares of company stock worth $43,523,710 over the last 90 days. Company insiders own 11.64% of the company's stock.
Alphabet Company 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.
Further Reading
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