AlphaCore Capital LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 22.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,870 shares of the information services provider's stock after acquiring an additional 5,865 shares during the quarter. AlphaCore Capital LLC's holdings in Alphabet were worth $4,979,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in shares of Alphabet by 18,562.3% during the first quarter. GAMMA Investing LLC now owns 14,323,323 shares of the information services provider's stock valued at $2,237,733,000 after buying an additional 14,246,573 shares during the period. Vanguard Group Inc. increased its position in Alphabet by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider's stock valued at $64,299,725,000 after purchasing an additional 9,687,855 shares during the period. Northern Trust Corp increased its position in Alphabet by 16.1% during the 4th quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock valued at $10,873,751,000 after purchasing an additional 7,917,625 shares during the period. Capital International Investors raised its holdings in Alphabet by 6.7% in the 4th quarter. Capital International Investors now owns 91,236,069 shares of the information services provider's stock worth $17,376,706,000 after purchasing an additional 5,758,244 shares in the last quarter. Finally, Sanders Capital LLC lifted its position in shares of Alphabet by 14.5% in the 4th quarter. Sanders Capital LLC now owns 33,504,543 shares of the information services provider's stock worth $6,380,605,000 after purchasing an additional 4,247,379 shares during the period. Hedge funds and other institutional investors own 27.26% of the company's stock.
Analyst Upgrades and Downgrades
GOOG has been the topic of several research analyst reports. Roth Capital reiterated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Cantor Fitzgerald reiterated a "neutral" rating and set a $171.00 target price on shares of Alphabet in a report on Friday, April 25th. Pivotal Research increased their target price on Alphabet from $225.00 to $245.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Rosenblatt Securities upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $235.00 price target (up from $220.00) on shares of Alphabet in a research note on Thursday, July 24th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and five have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $215.19.
Read Our Latest Stock Report on Alphabet
Insider Activity
In related news, insider John Kent Walker sold 23,820 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the sale, the insider owned 42,999 shares in the company, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the transaction, the director directly owned 243,400 shares in the company, valued at $45,213,984. The trade was a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 273,219 shares of company stock valued at $49,474,273 over the last three months. Insiders own 12.99% of the company's stock.
Alphabet Stock Performance
Shares of GOOG opened at $197.28 on Friday. The company has a market cap of $2.39 trillion, a price-to-earnings ratio of 21.01, a P/E/G ratio of 1.31 and a beta of 1.02. The business's fifty day simple moving average is $181.28 and its two-hundred day simple moving average is $174.68. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $208.70. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07.
Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The firm had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. During the same period in the prior year, the company posted $1.89 earnings per share. The company's quarterly revenue was up 13.8% on a year-over-year basis. Research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.
Alphabet Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be issued 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 of this dividend is Monday, September 8th. Alphabet's payout ratio is presently 8.95%.
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.
Further Reading
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