Balefire LLC boosted its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 11.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,677 shares of the information services provider's stock after purchasing an additional 2,090 shares during the quarter. Alphabet makes up approximately 1.1% of Balefire LLC's investment portfolio, making the stock its 23rd largest holding. Balefire LLC's holdings in Alphabet were worth $3,074,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in GOOG. LaFleur & Godfrey LLC increased its holdings in shares of Alphabet by 1.2% during the fourth quarter. LaFleur & Godfrey LLC now owns 31,967 shares of the information services provider's stock valued at $6,088,000 after acquiring an additional 380 shares in the last quarter. Brighton Jones LLC increased its holdings in shares of Alphabet by 5.6% during the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider's stock valued at $22,901,000 after acquiring an additional 6,410 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new position in Alphabet in the 4th quarter worth approximately $204,262,000. Ascent Wealth Partners LLC increased its holdings in Alphabet by 246.2% in 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. Finally, Bank Pictet & Cie Europe AG boosted its position in Alphabet by 4.3% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 506,535 shares of the information services provider's stock worth $96,465,000 after purchasing an additional 20,855 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors.
Alphabet Trading Up 1.7%
Shares of GOOG stock opened at $174.43 on Friday. The stock's fifty day moving average is $167.33 and its two-hundred day moving average is $176.22. 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 firm has a market capitalization of $2.12 trillion, a P/E ratio of 19.45, a PEG ratio of 1.21 and a beta of 1.01. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70.
Alphabet (NASDAQ:GOOG - Get Free Report) last announced 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 company had revenue of $90.23 billion for 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%. The firm's revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.89 EPS. Research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.
Alphabet Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were paid a $0.21 dividend. The ex-dividend date of this dividend was Monday, June 9th. This is an increase from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.48%. Alphabet's dividend payout ratio (DPR) is 9.36%.
Wall Street Analyst Weigh In
Several equities research analysts have commented on the company. Oppenheimer upped their price objective on Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a research report on Friday, April 25th. Rosenblatt Securities upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. KeyCorp lowered their price objective on Alphabet from $202.00 to $185.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. Cantor Fitzgerald restated a "neutral" rating and issued a $171.00 price objective on shares of Alphabet in a research report on Friday, April 25th. Finally, Citigroup reiterated a "sell" rating on shares of Alphabet in a research report on Wednesday, April 23rd. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $204.88.
Get Our Latest Research Report on Alphabet
Insiders Place Their Bets
In other Alphabet news, 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 value of $5,153,200.00. Following the completion of the sale, the chief executive officer now directly owns 2,717,696 shares of the company's stock, valued at $430,917,877.76. This trade represents a 1.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O'toole sold 673 shares of the firm's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total value of $104,537.09. Following the completion of the sale, the chief accounting officer now directly owns 15,303 shares of the company's stock, valued at $2,377,014.99. This trade represents a 4.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 216,195 shares of company stock valued at $35,764,898 in the last three months. 12.99% of the stock is currently owned by insiders.
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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