Hunter Perkins Capital Management LLC reduced its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 16.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,654 shares of the information services provider's stock after selling 14,169 shares during the quarter. Alphabet accounts for approximately 2.6% of Hunter Perkins Capital Management LLC's investment portfolio, making the stock its 9th largest holding. Hunter Perkins Capital Management LLC's holdings in Alphabet were worth $11,235,000 at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. Rockbridge Capital Management LLC purchased a new position in shares of Alphabet in the 4th quarter valued at $3,119,000. Optivise Advisory Services LLC boosted its position 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 in the last quarter. Community Bank N.A. grew its stake in Alphabet by 6.4% in 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 last quarter. Falcon Wealth Planning raised its holdings in Alphabet by 15.7% in the first quarter. Falcon Wealth Planning now owns 9,898 shares of the information services provider's stock worth $1,531,000 after purchasing an additional 1,340 shares in the last quarter. Finally, Premier Fund Managers Ltd lifted its position in shares of Alphabet by 30.0% during the fourth quarter. Premier Fund Managers Ltd now owns 61,792 shares of the information services provider's stock valued at $11,816,000 after buying an additional 14,262 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Alphabet
In related news, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $1,837,500.00. Following the completion of the transaction, the director directly owned 261,966 shares in the company, valued at approximately $45,844,050. This represents a 3.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 600 shares of the company's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $105,000.00. Following the completion of the transaction, the director directly owned 6,813 shares in the company, valued at approximately $1,192,275. This trade represents a 8.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 183,143 shares of company stock worth $30,529,028 in the last ninety days. 11.64% of the stock is owned by insiders.
Alphabet Trading Up 1.6%
Shares of GOOGL stock opened at $178.64 on Thursday. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. The stock's fifty day moving average is $167.96 and its two-hundred day moving average is $174.20. The firm has a market capitalization of $2.17 trillion, a P/E ratio of 19.92, a PEG ratio of 1.24 and a beta of 1.00.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released 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 business 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 period last year, the company posted $1.89 EPS. Research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
Alphabet Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.47%. This is a positive change from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. Alphabet's payout ratio is presently 9.36%.
Wall Street Analyst Weigh In
Several analysts have recently commented on the company. Jefferies Financial Group decreased their price objective on Alphabet from $235.00 to $200.00 and set a "buy" rating for the company in a report on Monday, March 31st. Mizuho decreased their price target on Alphabet from $230.00 to $205.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Morgan Stanley dropped their price target on Alphabet from $210.00 to $185.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Tigress Financial increased their price objective on shares of Alphabet from $220.00 to $240.00 and gave the company a "strong-buy" rating in a research report on Wednesday, April 30th. Finally, Roth Mkm reissued a "buy" rating and set a $220.00 target price on shares of Alphabet in a research report on Wednesday, March 19th. Ten analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $199.95.
Get Our Latest Stock Analysis on Alphabet
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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