Eldred Rock Partners LLC boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 10.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 96,007 shares of the information services provider's stock after purchasing an additional 8,985 shares during the period. Alphabet accounts for about 4.6% of Eldred Rock Partners LLC's investment portfolio, making the stock its 3rd biggest holding. Eldred Rock Partners LLC's holdings in Alphabet were worth $14,835,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $24,383,677,000. FMR LLC increased its stake in 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 during the period. GAMMA Investing LLC increased its stake in Alphabet by 16,993.2% during the 1st quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider's stock worth $2,483,898,000 after acquiring an additional 15,968,487 shares during the period. Northern Trust Corp increased its stake in shares of Alphabet by 17.0% in the 4th 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 during the last quarter. Finally, Capital Research Global Investors increased its stake in shares of Alphabet by 16.2% in the 4th 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 institutional investors and hedge funds.
Insider Activity at Alphabet
In other news, Director Kavitark Ram Shriram sold 10,500 shares of the firm's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the transaction, the director now directly owns 261,966 shares of the company's stock, valued at approximately $45,844,050. This trade represents a 3.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $105,000.00. Following the sale, the director now owns 6,813 shares of the company's stock, valued at approximately $1,192,275. This represents a 8.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 195,770 shares of company stock valued at $32,036,638 over the last 90 days. 11.64% of the stock is owned by insiders.
Alphabet Price Performance
Shares of Alphabet stock traded up $1.93 during trading on Thursday, hitting $169.98. The stock had a trading volume of 17,239,557 shares, compared to its average volume of 30,007,124. The firm has a market cap of $2.06 trillion, a price-to-earnings ratio of 21.12, a P/E/G ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05. The business's 50-day moving average is $159.54 and its 200 day moving average is $174.43. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.
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 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 net margin of 28.60% and a return on equity of 32.49%. During the same quarter in the prior year, the firm posted $1.89 earnings per share. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.
Alphabet Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.49%. This is a boost from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio is presently 9.36%.
Analyst Ratings Changes
Several equities analysts have recently issued reports on GOOGL shares. JPMorgan Chase & Co. decreased their price target on Alphabet from $220.00 to $180.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 8th. Citigroup raised their price objective on Alphabet from $195.00 to $200.00 and gave the company a "buy" rating in a report on Friday, April 25th. Morgan Stanley cut their target price on Alphabet from $210.00 to $185.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Tigress Financial lifted their target price on Alphabet from $220.00 to $240.00 and gave the stock a "strong-buy" rating in a report on Wednesday, April 30th. Finally, BMO Capital Markets reaffirmed an "outperform" rating and set a $200.00 target price (down from $230.00) on shares of Alphabet in a report on Thursday, April 17th. Ten research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $199.75.
Get Our Latest Stock Report on GOOGL
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.
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