Capital Advisors Inc. OK boosted its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 2.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 514,165 shares of the information services provider's stock after buying an additional 13,149 shares during the quarter. Alphabet makes up approximately 1.6% of Capital Advisors Inc. OK's investment portfolio, making the stock its 15th largest position. Capital Advisors Inc. OK's holdings in Alphabet were worth $80,328,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in Alphabet during the 4th quarter worth approximately $5,166,070,000. GAMMA Investing LLC raised its holdings in Alphabet by 18,562.3% during the 1st quarter. GAMMA Investing LLC now owns 14,323,323 shares of the information services provider's stock worth $2,237,733,000 after purchasing an additional 14,246,573 shares during the last quarter. Raymond James Financial Inc. bought a new position in Alphabet during the 4th quarter worth approximately $1,551,533,000. Northern Trust Corp raised its holdings in Alphabet by 16.1% during the 4th quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock worth $10,873,751,000 after purchasing an additional 7,917,625 shares during the last quarter. Finally, GQG Partners LLC raised its holdings in Alphabet by 181,679.1% during the 4th quarter. GQG Partners LLC now owns 7,225,721 shares of the information services provider's stock worth $1,376,066,000 after purchasing an additional 7,221,746 shares during the last quarter. Institutional investors own 27.26% of the company's stock.
Analyst Upgrades and Downgrades
Several research analysts have issued reports on the stock. Westpark Capital restated a "buy" rating and set a $210.00 price target on shares of Alphabet in a report on Friday, April 25th. UBS Group reduced their price objective on shares of Alphabet from $209.00 to $173.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $220.00 price objective on shares of Alphabet in a research report on Monday, June 2nd. Scotiabank reduced their price objective on shares of Alphabet from $232.00 to $200.00 and set a "sector outperform" rating for the company in a research report on Monday, April 21st. Finally, Citigroup reaffirmed a "sell" rating on shares of Alphabet in a research report on Wednesday, April 23rd. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and six have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $206.38.
Read Our Latest Stock Analysis on Alphabet
Insiders Place Their Bets
In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John L. Hennessy sold 600 shares of Alphabet stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $105,000.00. Following the transaction, the director directly owned 6,813 shares in the company, valued at $1,192,275. This represents a 8.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 215,643 shares of company stock valued at $36,330,928 in the last three months. 12.99% of the stock is currently owned by insiders.
Alphabet Stock Down 0.9%
NASDAQ GOOG traded down $1.69 during mid-day trading on Tuesday, hitting $175.87. The company's stock had a trading volume of 7,659,080 shares, compared to its average volume of 21,157,891. The company's 50 day simple moving average is $170.28 and its 200 day simple moving average is $175.29. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $2.13 trillion, a price-to-earnings ratio of 19.61, a PEG ratio of 1.27 and a beta of 1.01.
Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.79. The business had revenue of $90.23 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%. Alphabet's revenue was up 12.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.89 EPS. Analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.
Alphabet Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders 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 0.48%. This is an increase from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. Alphabet's payout ratio is currently 9.36%.
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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