Alta Capital Management LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 13.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,000 shares of the information services provider's stock after selling 3,000 shares during the period. Alta Capital Management LLC's holdings in Alphabet were worth $3,125,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in GOOG. Cassaday & Co Wealth Management LLC increased its holdings in shares of Alphabet by 9.3% in the fourth quarter. Cassaday & Co Wealth Management LLC now owns 28,044 shares of the information services provider's stock worth $5,341,000 after acquiring an additional 2,390 shares in the last quarter. LaFleur & Godfrey LLC grew its position in shares of Alphabet by 1.2% in the 4th quarter. LaFleur & Godfrey LLC now owns 31,967 shares of the information services provider's stock valued at $6,088,000 after purchasing an additional 380 shares during the period. Brighton Jones LLC increased its stake in Alphabet by 5.6% during the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider's stock worth $22,901,000 after purchasing an additional 6,410 shares in the last quarter. Union Bancaire Privee UBP SA bought a new stake in Alphabet during the 4th quarter worth approximately $204,262,000. Finally, Ascent Wealth Partners LLC raised its holdings in Alphabet by 246.2% during the 4th quarter. Ascent Wealth Partners LLC now owns 5,698 shares of the information services provider's stock worth $1,085,000 after buying an additional 4,052 shares during the period. Institutional investors own 27.26% of the company's stock.
Alphabet Price Performance
Shares of NASDAQ GOOG opened at $173.98 on Friday. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. The business's 50 day moving average price is $166.15 and its two-hundred day moving average price is $176.43. The company has a market cap of $2.11 trillion, a PE ratio of 19.40, a price-to-earnings-growth ratio of 1.23 and a beta of 1.01. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70.
Alphabet (NASDAQ:GOOG - 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. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The business had revenue of $90.23 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same period in the previous year, the firm earned $1.89 EPS. The firm's revenue was up 12.0% compared to the same quarter last year. On average, analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.
Alphabet Increases Dividend
The business 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. The ex-dividend date was Monday, June 9th. This is a positive change from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.48%. Alphabet's dividend payout ratio is presently 9.36%.
Analysts Set New Price Targets
A number of equities analysts have issued reports on the company. Cantor Fitzgerald reiterated a "neutral" rating and set a $171.00 target price on shares of Alphabet in a report on Friday, April 25th. JPMorgan Chase & Co. increased their price objective on Alphabet from $180.00 to $195.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. Scotiabank dropped their target price on Alphabet from $232.00 to $200.00 and set a "sector outperform" rating on the stock in a research report on Monday, April 21st. Tigress Financial reaffirmed a "strong-buy" rating on shares of Alphabet in a research report on Friday, May 2nd. Finally, The Goldman Sachs Group reiterated a "buy" rating and issued a $220.00 price objective on shares of Alphabet in a report on Monday, June 2nd. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $204.88.
Check Out Our Latest Stock Report on Alphabet
Insider Transactions at Alphabet
In other news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $168.71, for a total transaction of $5,483,075.00. Following the completion of the sale, the chief executive officer now directly owns 2,587,696 shares in the company, valued at approximately $436,570,192.16. This represents a 1.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the business's stock in a transaction dated Thursday, May 22nd. The shares were 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 now directly owns 261,966 shares of the company's stock, valued at approximately $45,844,050. This trade represents a 3.85% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 195,570 shares of company stock worth $32,003,532. 12.99% of the stock is owned by insiders.
Alphabet 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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