Howard Capital Management Group LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 0.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 306,240 shares of the information services provider's stock after selling 1,926 shares during the period. Alphabet comprises approximately 3.7% of Howard Capital Management Group LLC's investment portfolio, making the stock its 8th biggest position. Howard Capital Management Group LLC's holdings in Alphabet were worth $47,357,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Macroview Investment Management LLC grew its position in Alphabet by 4.2% in the fourth quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider's stock valued at $245,000 after acquiring an additional 52 shares during the period. Cornerstone Planning Group LLC boosted its stake in shares of Alphabet by 2.3% in the 4th quarter. Cornerstone Planning Group LLC now owns 2,381 shares of the information services provider's stock valued at $457,000 after purchasing an additional 53 shares in the last quarter. Addison Advisors LLC grew its holdings in shares of Alphabet by 0.7% in the 4th quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider's stock worth $1,425,000 after purchasing an additional 53 shares during the last quarter. Burt Wealth Advisors increased its position in shares of Alphabet by 1.0% during the 4th quarter. Burt Wealth Advisors now owns 5,307 shares of the information services provider's stock worth $1,005,000 after purchasing an additional 54 shares in the last quarter. Finally, Perritt Capital Management Inc lifted its holdings in Alphabet by 10.4% during the 4th quarter. Perritt Capital Management Inc now owns 618 shares of the information services provider's stock valued at $117,000 after purchasing an additional 58 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at Alphabet
In related news, CAO Amie Thuener O'toole sold 673 shares of Alphabet stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total value of $104,537.09. Following the transaction, the chief accounting officer now owns 15,303 shares in the company, valued at $2,377,014.99. This trade represents a 4.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $155.90, for a total value of $5,066,750.00. Following the completion of the sale, the chief executive officer now directly owns 2,652,696 shares of the company's stock, valued at approximately $413,555,306.40. This trade represents a 1.21% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 195,570 shares of company stock valued at $32,003,532. Corporate insiders own 11.55% of the company's stock.
Analysts Set New Price Targets
A number of analysts recently weighed in on GOOGL shares. Mizuho lowered their price target on shares of Alphabet from $230.00 to $205.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. JMP Securities restated a "market perform" rating on shares of Alphabet in a research report on Wednesday, May 21st. Truist Financial decreased their price target on Alphabet from $220.00 to $200.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Stifel Nicolaus lowered their price objective on Alphabet from $225.00 to $192.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Finally, DA Davidson reduced their target price on shares of Alphabet from $200.00 to $160.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. 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 stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $199.75.
Check Out Our Latest Report on GOOGL
Alphabet Trading Down 0.4%
Shares of Alphabet stock traded down $0.63 on Wednesday, reaching $175.32. 16,502,476 shares of the company's stock were exchanged, compared to its average volume of 30,397,248. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05. The firm's 50-day moving average is $163.88 and its two-hundred day moving average is $174.74. The company has a market capitalization of $2.13 trillion, a P/E ratio of 19.56, a price-to-earnings-growth ratio of 1.13 and a beta of 1.01.
Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. The company had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. During the same quarter in the prior year, the business posted $1.89 EPS. Sell-side analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.
Alphabet Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were given a $0.21 dividend. This is a positive change from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend was Monday, June 9th. Alphabet's dividend payout ratio (DPR) is 9.36%.
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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