BXM Wealth LLC lifted its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 24.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,755 shares of the information services provider's stock after purchasing an additional 2,125 shares during the quarter. Alphabet comprises 2.0% of BXM Wealth LLC's portfolio, making the stock its 11th biggest holding. BXM Wealth LLC's holdings in Alphabet were worth $1,666,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. CapWealth Advisors LLC raised its position in Alphabet by 8.8% during the 1st quarter. CapWealth Advisors LLC now owns 57,093 shares of the information services provider's stock valued at $8,829,000 after purchasing an additional 4,615 shares in the last quarter. Stratos Investment Management LLC raised its position in Alphabet by 15.3% during the 1st quarter. Stratos Investment Management LLC now owns 144,250 shares of the information services provider's stock valued at $22,307,000 after purchasing an additional 19,189 shares in the last quarter. Blackhawk Capital Partners LLC. raised its position in Alphabet by 8.4% during the 1st quarter. Blackhawk Capital Partners LLC. now owns 31,244 shares of the information services provider's stock valued at $4,832,000 after purchasing an additional 2,434 shares in the last quarter. May Hill Capital LLC raised its position in Alphabet by 6.3% during the 1st quarter. May Hill Capital LLC now owns 7,256 shares of the information services provider's stock valued at $1,122,000 after purchasing an additional 430 shares in the last quarter. Finally, Sierra Capital LLC raised its position in Alphabet by 3.1% during the 1st quarter. Sierra Capital LLC now owns 48,148 shares of the information services provider's stock valued at $7,446,000 after purchasing an additional 1,429 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.
Alphabet Stock Performance
Shares of GOOGL stock traded up $1.80 on Friday, hitting $185.38. The company had a trading volume of 21,198,761 shares, compared to its average volume of 32,049,617. The firm has a market cap of $2.25 trillion, a P/E ratio of 20.66, a price-to-earnings-growth ratio of 1.28 and a beta of 1.00. The company has a 50-day moving average price of $172.26 and a 200-day moving average price of $173.15. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05.
Alphabet (NASDAQ:GOOGL - 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, topping analysts' consensus estimates of $2.02 by $0.79. The company had revenue of $76.49 billion during the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. During the same quarter in the prior year, the firm posted $1.89 EPS. As a group, equities research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
Alphabet Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were issued a $0.21 dividend. This is a boost from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.45%. Alphabet's dividend payout ratio is presently 9.36%.
Analyst Ratings Changes
A number of equities research analysts have weighed in on GOOGL shares. Bank of America lifted their target price on Alphabet from $200.00 to $210.00 and gave the company a "buy" rating in a research report on Friday. BMO Capital Markets lifted their price target on Alphabet from $200.00 to $208.00 and gave the company an "outperform" rating in a report on Tuesday. Jefferies Financial Group cut their price target on Alphabet from $235.00 to $200.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Susquehanna cut their price target on Alphabet from $225.00 to $220.00 and set a "positive" rating on the stock in a report on Friday, April 25th. Finally, JMP Securities upgraded Alphabet from a "market perform" rating to a "market outperform" rating and set a $220.00 price target on the stock in a report on Friday, June 27th. Ten investment analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $201.68.
Check Out Our Latest Report on GOOGL
Insider Buying and Selling
In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer owned 2,527,392 shares of the company's stock, valued at $466,000,536.96. This represents a 1.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $1,837,500.00. Following the transaction, the director directly owned 261,966 shares of the company's stock, valued at $45,844,050. The trade was a 3.85% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 215,843 shares of company stock valued at $37,288,490. 11.64% of the stock is owned by company 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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