Beverly Hills Private Wealth LLC raised its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 32.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,643 shares of the information services provider's stock after purchasing an additional 3,874 shares during the quarter. Beverly Hills Private Wealth LLC's holdings in Alphabet were worth $2,419,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Interchange Capital Partners LLC increased its position in shares of Alphabet by 3.8% during the first quarter. Interchange Capital Partners LLC now owns 19,520 shares of the information services provider's stock worth $3,019,000 after acquiring an additional 713 shares during the period. Crossmark Global Holdings Inc. increased its position in shares of Alphabet by 11.1% during the first quarter. Crossmark Global Holdings Inc. now owns 369,544 shares of the information services provider's stock worth $57,146,000 after acquiring an additional 36,779 shares during the period. Washington Trust Bank increased its position in shares of Alphabet by 1.5% during the first quarter. Washington Trust Bank now owns 84,927 shares of the information services provider's stock worth $13,133,000 after acquiring an additional 1,296 shares during the period. Fullcircle Wealth LLC increased its position in shares of Alphabet by 2.1% during the first quarter. Fullcircle Wealth LLC now owns 13,005 shares of the information services provider's stock worth $2,089,000 after acquiring an additional 269 shares during the period. Finally, U.S. Capital Wealth Advisors LLC boosted its stake in shares of Alphabet by 3.4% during the first quarter. U.S. Capital Wealth Advisors LLC now owns 101,124 shares of the information services provider's stock valued at $15,638,000 after purchasing an additional 3,334 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In other news, Director Kavitark Ram Shriram sold 9,000 shares of Alphabet stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $1,575,000.00. Following the sale, the director owned 255,400 shares of the company's stock, valued at $44,695,000. The trade was a 3.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $105,000.00. Following the completion of the sale, the director directly owned 6,813 shares in the company, valued at approximately $1,192,275. The trade was a 8.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 182,943 shares of company stock valued at $31,223,348 over the last quarter. Corporate insiders own 11.55% of the company's stock.
Analysts Set New Price Targets
A number of equities analysts have recently issued reports on GOOGL shares. Westpark Capital reiterated a "buy" rating and set a $210.00 price objective on shares of Alphabet in a research note on Thursday, May 8th. Citigroup restated a "buy" rating and issued a $203.00 target price (up from $200.00) on shares of Alphabet in a research note on Tuesday, June 24th. Cantor Fitzgerald raised their target price on shares of Alphabet from $171.00 to $196.00 and gave the company a "neutral" rating in a research note on Wednesday. UBS Group lifted their price objective on shares of Alphabet from $186.00 to $192.00 and gave the stock a "neutral" rating in a research note on Wednesday. Finally, Citizens Jmp upgraded shares of Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 price objective for the company in a research note on Friday, June 27th. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $201.24.
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Alphabet Stock Performance
Alphabet stock traded up $1.77 during midday trading on Wednesday, hitting $183.77. 21,606,519 shares of the company's stock were exchanged, compared to its average volume of 31,949,017. 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 quick ratio of 1.77 and a current ratio of 1.77. The stock has a market cap of $2.23 trillion, a price-to-earnings ratio of 20.48, a price-to-earnings-growth ratio of 1.27 and a beta of 1.00. The firm's 50 day simple moving average is $171.04 and its 200 day simple moving average is $173.13.
Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.79. The company had revenue of $76.49 billion for the quarter, compared to the consensus estimate 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 EPS. Equities research analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.
Alphabet Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were issued a $0.21 dividend. This is an increase from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.46%. Alphabet's payout ratio is presently 9.36%.
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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