Larson Financial Group LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 69.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,094 shares of the information services provider's stock after purchasing an additional 18,521 shares during the quarter. Larson Financial Group LLC's holdings in Alphabet were worth $6,973,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently modified their holdings of GOOGL. Harbour Trust & Investment Management Co grew its holdings in Alphabet by 0.3% during the first quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider's stock valued at $4,187,000 after purchasing an additional 80 shares during the period. Rockbridge Capital Management LLC bought a new stake in Alphabet during the fourth quarter valued at about $3,119,000. Cypress Capital LLC grew its holdings in Alphabet by 4.1% during the first quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider's stock valued at $2,213,000 after purchasing an additional 563 shares during the period. Optivise Advisory Services LLC grew its holdings in Alphabet by 8.0% during the fourth quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider's stock valued at $1,035,000 after purchasing an additional 403 shares during the period. Finally, Community Bank N.A. grew its holdings in Alphabet by 6.4% during the fourth quarter. Community Bank N.A. now owns 46,173 shares of the information services provider's stock valued at $8,741,000 after purchasing an additional 2,790 shares during the period. Hedge funds and other institutional investors own 40.03% of the company's stock.
Alphabet Stock Up 0.5%
NASDAQ GOOGL traded up $1.01 during midday 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 company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.77. The company has a market cap of $2.34 trillion, a PE ratio of 20.57, a price-to-earnings-growth ratio of 1.33 and a beta of 1.00. The company's 50-day simple moving average is $175.77 and its 200-day simple moving average is $172.93. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05.
Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its 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. The business had revenue of $76.49 billion for the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. During the same quarter last year, the firm earned $1.89 EPS. As a group, equities research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.
Alphabet Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.43%. Alphabet's dividend payout ratio (DPR) is presently 8.95%.
Analyst Ratings Changes
Several research firms recently issued reports on GOOGL. Mizuho cut their target price on Alphabet from $230.00 to $205.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. JMP Securities lifted their target price on Alphabet from $220.00 to $225.00 and gave the company a "market outperform" rating in a research note on Thursday. DA Davidson lifted their target price on Alphabet from $160.00 to $180.00 and gave the company a "neutral" rating in a research note on Thursday. BMO Capital Markets lifted their target price on Alphabet from $208.00 to $225.00 and gave the company an "outperform" rating in a research note on Thursday. Finally, Barclays lifted their target price on Alphabet from $220.00 to $235.00 and gave the company an "overweight" rating in a research note on Thursday. Ten investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, Alphabet presently has an average rating of "Moderate Buy" and a consensus target price of $211.32.
Read Our Latest Research Report on Alphabet
Insider Buying and Selling at Alphabet
In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the sale, the chief executive officer owned 2,527,392 shares of the company's stock, valued at approximately $466,000,536.96. This trade represents a 1.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 400 shares of the stock in a transaction on Monday, July 14th. The shares were sold at an average price of $181.98, for a total value of $72,792.00. Following the sale, the director directly owned 6,013 shares in the company, valued at $1,094,245.74. This trade represents a 6.24% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 249,409 shares of company stock valued at $43,523,710. 11.64% of the stock is currently owned by corporate insiders.
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.
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