Callahan Advisors LLC increased its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 9.7% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 31,447 shares of the information services provider's stock after purchasing an additional 2,776 shares during the period. Callahan Advisors LLC's holdings in Alphabet were worth $4,863,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $24,383,677,000. FMR LLC raised its holdings in shares of Alphabet by 9.8% during the fourth quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock valued at $47,025,322,000 after buying an additional 22,100,902 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Alphabet by 16,993.2% during the first quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider's stock valued at $2,483,898,000 after buying an additional 15,968,487 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Alphabet by 17.0% during the fourth quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock valued at $13,178,470,000 after buying an additional 10,135,430 shares during the last quarter. Finally, Capital Research Global Investors raised its holdings in shares of Alphabet by 16.2% during the fourth quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock valued at $13,635,878,000 after buying an additional 10,037,685 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total value of $5,992,350.00. Following the completion of the transaction, the chief executive officer owned 2,527,392 shares in the company, valued at $466,000,536.96. This trade represents a 1.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 9,000 shares of Alphabet stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,575,000.00. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 215,843 shares of company stock worth $37,288,490. Insiders own 11.64% of the company's stock.
Wall Street Analyst Weigh In
GOOGL has been the topic of several recent research reports. Cantor Fitzgerald lifted their price target on shares of Alphabet from $171.00 to $196.00 and gave the stock a "neutral" rating in a research report on Wednesday. Piper Sandler lifted their price objective on shares of Alphabet from $185.00 to $195.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Bank of America lifted their price objective on shares of Alphabet from $200.00 to $210.00 and gave the stock a "buy" rating in a research report on Friday. Wedbush set a $190.00 target price on shares of Alphabet and gave the company an "outperform" rating in a research note on Tuesday, April 15th. Finally, Mizuho reduced their price objective on shares of Alphabet from $230.00 to $205.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Ten analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, Alphabet currently has a consensus rating of "Moderate Buy" and a consensus price target of $201.68.
Get Our Latest Stock Report on Alphabet
Alphabet Stock Up 0.8%
GOOGL traded up $1.48 during trading on Friday, hitting $185.06. 33,864,714 shares of the company's stock were exchanged, compared to its average volume of 32,179,845. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. The business's 50 day moving average is $172.90 and its two-hundred day moving average is $173.01. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. The stock has a market cap of $2.25 trillion, a P/E ratio of 20.63, a PEG ratio of 1.30 and a beta of 1.00.
Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating the consensus estimate of $2.02 by $0.79. The company had revenue of $76.49 billion during 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 quarter in the prior year, the company posted $1.89 earnings per share. As a group, equities analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
Alphabet Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date was Monday, June 9th. This is an increase from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio (DPR) is 9.36%.
Alphabet Company 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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