Burney Co. Acquires 1,374 Shares of Alphabet Inc. (NASDAQ:GOOG)

Burney Co. lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 11.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,414 shares of the information services provider's stock after purchasing an additional 1,374 shares during the period. Burney Co.'s holdings in Alphabet were worth $2,096,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. FMR LLC raised its stake in Alphabet by 2.8% during the fourth quarter. FMR LLC now owns 117,991,725 shares of the information services provider's stock worth $22,470,344,000 after acquiring an additional 3,189,592 shares during the period. Geode Capital Management LLC increased its stake in shares of Alphabet by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 104,777,092 shares of the information services provider's stock valued at $19,894,651,000 after purchasing an additional 1,219,606 shares during the period. Capital International Investors increased its stake in shares of Alphabet by 6.7% in the fourth quarter. Capital International Investors now owns 91,236,069 shares of the information services provider's stock valued at $17,376,706,000 after purchasing an additional 5,758,244 shares during the period. Northern Trust Corp increased its stake in shares of Alphabet by 16.1% in the fourth quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock valued at $10,873,751,000 after purchasing an additional 7,917,625 shares during the period. Finally, Capital Research Global Investors increased its stake in shares of Alphabet by 0.8% in the fourth quarter. Capital Research Global Investors now owns 39,148,500 shares of the information services provider's stock valued at $7,455,571,000 after purchasing an additional 294,556 shares during the period. Institutional investors own 27.26% of the company's stock.

Alphabet Stock Performance

GOOG stock traded up $0.88 during trading hours on Friday, reaching $194.08. The stock had a trading volume of 31,074,800 shares, compared to its average volume of 27,020,362. The stock has a market capitalization of $2.36 trillion, a PE ratio of 20.67, a price-to-earnings-growth ratio of 1.33 and a beta of 1.01. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.77. The stock has a 50-day simple moving average of $176.86 and a 200 day simple moving average of $174.53. 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 results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating analysts' consensus estimates of $2.12 by $0.19. The firm had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company's revenue for the quarter was up 13.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.89 earnings per share. Analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Monday, September 8th. Alphabet's dividend payout ratio is presently 8.95%.

Analyst Ratings Changes

Several equities research analysts have commented on GOOG shares. Scotiabank raised their price target on shares of Alphabet from $200.00 to $240.00 and gave the company a "sector outperform" rating in a research note on Tuesday, July 22nd. Needham & Company LLC lowered shares of Alphabet from a "buy" rating to a "cautious" rating in a research note on Friday, May 2nd. Lake Street Capital reiterated a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. KeyCorp decreased their price objective on shares of Alphabet from $202.00 to $185.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Finally, Westpark Capital reaffirmed a "buy" rating and issued a $210.00 price objective on shares of Alphabet in a research note on Friday, April 25th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and five have given a strong buy rating to the company's stock. According to data from MarketBeat, Alphabet currently has an average rating of "Moderate Buy" and a consensus price target of $215.19.

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 400 shares of the firm's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $181.98, for a total transaction of $72,792.00. Following the completion of the sale, the director owned 6,013 shares in the company, valued at approximately $1,094,245.74. This trade represents a 6.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the sale, the chief executive officer owned 2,527,392 shares of the company's stock, valued at approximately $466,000,536.96. This represents a 1.27% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 249,409 shares of company stock worth $43,523,710. 12.99% of the stock is owned by insiders.

Alphabet Profile

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.