AssuredPartners Investment Advisors LLC increased its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 4.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,536 shares of the information services provider's stock after purchasing an additional 1,930 shares during the period. Alphabet makes up 1.3% of AssuredPartners Investment Advisors LLC's portfolio, making the stock its 14th biggest position. AssuredPartners Investment Advisors LLC's holdings in Alphabet were worth $6,732,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the business. Rockbridge Capital Management LLC acquired a new stake in shares of Alphabet during the fourth quarter worth approximately $3,119,000. Optivise Advisory Services LLC increased its holdings in shares of Alphabet by 8.0% during the fourth quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider's stock worth $1,035,000 after buying an additional 403 shares in the last quarter. Community Bank N.A. increased its holdings in shares of Alphabet by 6.4% during the fourth quarter. Community Bank N.A. now owns 46,173 shares of the information services provider's stock worth $8,741,000 after buying an additional 2,790 shares in the last quarter. Premier Fund Managers Ltd increased its holdings 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 worth $11,816,000 after buying an additional 14,262 shares in the last quarter. Finally, Absolute Capital Management LLC increased its holdings in shares of Alphabet by 14.0% during the fourth quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider's stock worth $401,000 after buying an additional 258 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.
Insider Transactions at Alphabet
In related news, CAO Amie Thuener O'toole sold 673 shares of the firm's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total transaction of $104,537.09. Following the sale, the chief accounting officer now directly owns 15,303 shares in the company, valued at $2,377,014.99. This trade represents a 4.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the sale, the chief executive officer now owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. The trade was a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 216,195 shares of company stock valued at $35,764,898 over the last three months. 11.64% of the stock is currently owned by corporate insiders.
Alphabet Trading Up 2.9%
Shares of NASDAQ GOOGL traded up $4.99 during midday trading on Friday, reaching $178.53. 107,974,317 shares of the stock were exchanged, compared to its average volume of 31,238,454. The business has a 50-day simple moving average of $166.45 and a two-hundred day simple moving average of $174.52. The company has a market capitalization of $2.17 trillion, a price-to-earnings ratio of 19.90, a P/E/G ratio of 1.11 and a beta of 1.01. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77.
Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly 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 company had revenue of $76.49 billion for the quarter, compared to analysts' expectations 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 firm posted $1.89 earnings per share. As a group, equities research analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.
Alphabet Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.47%. This is a boost from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. Alphabet's dividend payout ratio (DPR) is currently 9.36%.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on GOOGL shares. Citizens Jmp raised shares of Alphabet from a "market perform" rating to a "strong-buy" rating and set a $220.00 price objective for the company in a report on Friday. Sanford C. Bernstein raised their price objective on shares of Alphabet from $165.00 to $185.00 and gave the stock a "market perform" rating in a report on Friday, April 25th. Roth Mkm reaffirmed a "buy" rating and set a $220.00 price objective on shares of Alphabet in a report on Wednesday, March 19th. Rosenblatt Securities reaffirmed a "neutral" rating and set a $189.00 price objective on shares of Alphabet in a report on Wednesday, May 21st. Finally, Morgan Stanley lowered their price target on shares of Alphabet from $210.00 to $185.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Ten investment analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat, Alphabet currently has a consensus rating of "Moderate Buy" and an average target price of $199.95.
Check Out Our Latest Research Report on GOOGL
Alphabet 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.
Featured Articles
Before you consider Alphabet, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Alphabet wasn't on the list.
While Alphabet currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
