Boston Common Asset Management LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 2.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 159,936 shares of the information services provider's stock after selling 4,376 shares during the quarter. Boston Common Asset Management LLC's holdings in Alphabet were worth $24,987,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also bought and sold shares of the company. Cassaday & Co Wealth Management LLC grew its position in Alphabet by 9.3% during the fourth quarter. Cassaday & Co Wealth Management LLC now owns 28,044 shares of the information services provider's stock valued at $5,341,000 after acquiring an additional 2,390 shares during the last quarter. LaFleur & Godfrey LLC grew its position in 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 during the last quarter. Brighton Jones LLC grew its position in 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 during the last quarter. Duncan Williams Asset Management LLC grew its position in Alphabet by 251.7% during the fourth quarter. Duncan Williams Asset Management LLC now owns 7,397 shares of the information services provider's stock valued at $1,409,000 after acquiring an additional 5,294 shares during the last quarter. Finally, Archford Capital Strategies LLC grew its position in Alphabet by 3.5% during the fourth quarter. Archford Capital Strategies LLC now owns 24,208 shares of the information services provider's stock valued at $4,610,000 after acquiring an additional 823 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.
Alphabet Trading Down 1.2%
NASDAQ:GOOG traded down $2.09 during trading hours on Friday, hitting $170.87. The company had a trading volume of 36,230,934 shares, compared to its average volume of 20,270,834. The company has a market capitalization of $2.07 trillion, a PE ratio of 21.23, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The stock has a 50-day moving average price of $160.92 and a 200 day moving average price of $176.39. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $208.70. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84.
Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.79. The business had revenue of $90.23 billion for the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The firm's revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.89 earnings per share. On average, equities research analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.
Alphabet Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.49%. This is a positive change from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio (DPR) is currently 9.36%.
Analyst Ratings Changes
A number of research analysts have commented on GOOG shares. Citigroup reiterated a "sell" rating on shares of Alphabet in a research report on Wednesday, April 23rd. UBS Group reduced their price target on shares of Alphabet from $209.00 to $173.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Needham & Company LLC cut shares of Alphabet from a "buy" rating to a "cautious" rating in a report on Friday, May 2nd. Tigress Financial restated a "strong-buy" rating on shares of Alphabet in a report on Friday, May 2nd. Finally, Scotiabank cut their target price on shares of Alphabet from $232.00 to $200.00 and set a "sector outperform" rating on the stock in a report on Monday, April 21st. 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 company. According to data from MarketBeat, Alphabet has a consensus rating of "Moderate Buy" and a consensus price target of $203.94.
Read Our Latest Analysis on Alphabet
Insider Buying and Selling at Alphabet
In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $155.90, for a total transaction of $5,066,750.00. Following the completion of the transaction, the chief executive officer now owns 2,652,696 shares of the company's stock, valued at approximately $413,555,306.40. This trade represents a 1.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O'toole sold 1,374 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $173.47, for a total value of $238,347.78. Following the transaction, the chief accounting officer now directly owns 15,024 shares of the company's stock, valued at $2,606,213.28. This represents a 8.38% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 164,533 shares of company stock valued at $26,772,774. 12.99% of the stock is currently owned by company insiders.
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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