LaSalle St. Investment Advisors LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 10.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,356 shares of the information services provider's stock after selling 1,373 shares during the period. LaSalle St. Investment Advisors LLC's holdings in Alphabet were worth $1,756,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Mystic Asset Management Inc. lifted its holdings in Alphabet by 6.7% in the first quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider's stock valued at $4,400,000 after acquiring an additional 1,791 shares during the last quarter. Harbour Trust & Investment Management Co raised its position in Alphabet by 0.3% in 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 purchased a new stake in Alphabet in the fourth quarter valued at $3,119,000. Cypress Capital LLC lifted its stake in shares of Alphabet by 4.1% in the 1st 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 last quarter. Finally, Optivise Advisory Services LLC grew its holdings in shares of Alphabet by 8.0% during the 4th quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider's stock worth $1,035,000 after purchasing an additional 403 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.
Alphabet Trading Up 0.5%
Shares of Alphabet stock opened at $202.94 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The company has a market capitalization of $2.45 trillion, a P/E ratio of 21.61, a PEG ratio of 1.36 and a beta of 1.01. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05. The company's fifty day moving average is $183.65 and its two-hundred day moving average is $173.30.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.15 by $0.16. The firm had revenue of $96,428,000 billion for the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. Analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.
Alphabet Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet's dividend payout ratio is 8.95%.
Wall Street Analyst Weigh In
A number of research firms have commented on GOOGL. BNP Paribas cut shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 26th. Royal Bank Of Canada upped their price objective on shares of Alphabet from $200.00 to $220.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Cantor Fitzgerald increased their price objective on shares of Alphabet from $196.00 to $201.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Wells Fargo & Company boosted their target price on Alphabet from $184.00 to $187.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 29th. Finally, Morgan Stanley upped their price target on Alphabet from $185.00 to $205.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. Ten 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. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $211.53.
Get Our Latest Research Report on Alphabet
Insider Buying and Selling
In related news, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $203.79, for a total value of $122,274.00. Following the transaction, the director directly owned 6,316 shares in the company, valued at $1,287,137.64. This trade represents a 8.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $196.23, for a total transaction of $6,377,475.00. Following the completion of the transaction, the chief executive officer directly owned 2,494,892 shares in the company, valued at $489,572,657.16. This represents a 1.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 274,819 shares of company stock worth $49,796,547 over the last three months. 11.64% of the stock is owned by company 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.
Further Reading
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