Alta Capital Management LLC reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 13.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 571,320 shares of the information services provider's stock after selling 91,338 shares during the quarter. Alphabet accounts for approximately 5.7% of Alta Capital Management LLC's investment portfolio, making the stock its biggest holding. Alta Capital Management LLC's holdings in Alphabet were worth $88,349,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Alphabet in the fourth quarter valued at $24,383,677,000. FMR LLC lifted its stake in shares of Alphabet by 9.8% during the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock worth $47,025,322,000 after buying an additional 22,100,902 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Alphabet by 16,993.2% during the 1st quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider's stock worth $2,483,898,000 after buying an additional 15,968,487 shares during the period. Northern Trust Corp lifted its position in Alphabet by 17.0% during the fourth quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock worth $13,178,470,000 after acquiring an additional 10,135,430 shares during the last quarter. Finally, Capital Research Global Investors boosted its holdings in shares of Alphabet by 16.2% during the fourth quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock worth $13,635,878,000 after acquiring an additional 10,037,685 shares during the period. Institutional investors and hedge funds own 40.03% of the company's stock.
Insider Transactions at Alphabet
In related news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $176.68, for a total value of $5,742,100.00. Following the sale, the chief executive officer now owns 2,555,196 shares in the company, valued at $451,452,029.28. This represents a 1.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider John Kent Walker sold 11,764 shares of the business's stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $166.84, for a total value of $1,962,705.76. Following the completion of the sale, the insider now directly owns 49,037 shares in the company, valued at $8,181,333.08. This trade represents a 19.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 228,070 shares of company stock valued at $37,745,632. Company insiders own 11.55% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on the stock. JMP Securities reiterated a "market perform" rating on shares of Alphabet in a research report on Wednesday, May 21st. Needham & Company LLC reaffirmed a "buy" rating and issued a $178.00 price target on shares of Alphabet in a research note on Friday, April 25th. Wells Fargo & Company upped their target price on Alphabet from $167.00 to $175.00 and gave the stock an "equal weight" rating in a research note on Friday, April 25th. Wedbush set a $190.00 price target on shares of Alphabet and gave the company an "outperform" rating in a research note on Tuesday, April 15th. Finally, Westpark Capital reiterated a "buy" rating and set a $210.00 price target on shares of Alphabet in a report on Thursday, May 8th. Ten analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat, Alphabet has a consensus rating of "Moderate Buy" and a consensus target price of $199.83.
Check Out Our Latest Analysis on Alphabet
Alphabet Trading Up 1.0%
NASDAQ:GOOGL traded up $1.58 during trading hours on Tuesday, reaching $166.77. The company's stock had a trading volume of 40,435,654 shares, compared to its average volume of 30,784,426. The firm has a 50-day simple moving average of $164.89 and a 200-day simple moving average of $174.66. 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 1 year low of $140.53 and a 1 year high of $207.05. The firm has a market capitalization of $2.02 trillion, a price-to-earnings ratio of 18.59, a PEG ratio of 1.05 and a beta of 1.01.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. The firm had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. During the same quarter in the prior year, the firm posted $1.89 earnings per share. Research analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.
Alphabet Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were issued 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 yield of 0.50%. Alphabet's dividend payout ratio is 9.36%.
Alphabet Company Profile
(
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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