Chicago Capital LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 733,122 shares of the information services provider's stock after selling 22,270 shares during the quarter. Alphabet accounts for approximately 3.2% of Chicago Capital LLC's holdings, making the stock its 5th biggest holding. Chicago Capital LLC's holdings in Alphabet were worth $113,370,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Wealth Group Ltd. lifted its stake in shares of Alphabet by 5.2% during the 4th quarter. Wealth Group Ltd. now owns 1,582 shares of the information services provider's stock worth $299,000 after acquiring an additional 78 shares during the last quarter. Capital & Planning LLC lifted its stake in Alphabet by 34.3% in the fourth quarter. Capital & Planning LLC now owns 4,383 shares of the information services provider's stock worth $830,000 after acquiring an additional 1,119 shares during the period. Eagle Capital Management LLC lifted its position in shares of Alphabet by 0.7% in the 4th quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider's stock worth $9,490,000 after purchasing an additional 371 shares during the period. Brighton Jones LLC lifted its holdings in Alphabet by 3.9% during the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock worth $20,886,000 after buying an additional 4,110 shares during the period. Finally, Union Bancaire Privee UBP SA purchased a new stake in shares of Alphabet during the 4th quarter worth $154,716,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.
Alphabet Stock Performance
Shares of GOOGL stock opened at $173.32 on Thursday. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. The firm's 50 day moving average price is $164.17 and its 200-day moving average price is $174.73. The firm has a market cap of $2.10 trillion, a P/E ratio of 19.32, a P/E/G ratio of 1.12 and a beta of 1.01.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.02 by $0.79. The business had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. During the same period last year, the business posted $1.89 earnings per share. As a group, equities research analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.
Alphabet Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were paid a $0.21 dividend. This is an increase from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.48%. Alphabet's payout ratio is 9.36%.
Analysts Set New Price Targets
Several equities research analysts have weighed in on the stock. KeyCorp raised their target price on shares of Alphabet from $185.00 to $195.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Wedbush set a $190.00 target price on Alphabet and gave the stock an "outperform" rating in a report on Tuesday, April 15th. Westpark Capital reaffirmed a "buy" rating and issued a $210.00 price target on shares of Alphabet in a report on Thursday, May 8th. Stifel Nicolaus lowered their price objective on Alphabet from $225.00 to $192.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Finally, Susquehanna dropped their target price on Alphabet from $225.00 to $220.00 and set a "positive" rating on the stock in a research report on Friday, April 25th. Ten research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $199.75.
Check Out Our Latest Analysis on GOOGL
Insiders Place Their Bets
In related news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the sale, the chief executive officer now directly owns 2,717,696 shares of the company's stock, valued at $430,917,877.76. The trade was a 1.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O'toole sold 673 shares of the company's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total value of $104,537.09. Following the completion of the sale, the chief accounting officer now directly owns 15,303 shares of the company's stock, valued at approximately $2,377,014.99. This trade represents a 4.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 195,570 shares of company stock worth $32,003,532 in the last quarter. 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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