Comprehensive Money Management Services LLC purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,650 shares of the information services provider's stock, valued at approximately $314,000.
Several other institutional investors have also modified their holdings of GOOG. ARQ Wealth Advisors LLC raised its holdings in Alphabet by 39.3% in the 4th quarter. ARQ Wealth Advisors LLC now owns 4,964 shares of the information services provider's stock valued at $945,000 after acquiring an additional 1,400 shares during the last quarter. GPS Wealth Strategies Group LLC raised its holdings in Alphabet by 6.8% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 16,248 shares of the information services provider's stock valued at $3,094,000 after acquiring an additional 1,041 shares during the last quarter. Harvest Investment Services LLC raised its holdings in Alphabet by 3.3% in the 4th quarter. Harvest Investment Services LLC now owns 4,329 shares of the information services provider's stock valued at $824,000 after acquiring an additional 138 shares during the last quarter. North Forty Two & Co. acquired a new position in Alphabet in the 4th quarter valued at $281,000. Finally, SageView Advisory Group LLC raised its holdings in Alphabet by 140.6% in the 4th quarter. SageView Advisory Group LLC now owns 14,734 shares of the information services provider's stock valued at $2,806,000 after acquiring an additional 8,610 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.
Alphabet Stock Down 0.2%
NASDAQ GOOG traded down $0.42 during mid-day trading on Thursday, hitting $172.96. The company's stock had a trading volume of 21,155,316 shares, compared to its average volume of 20,180,203. The company's 50 day simple moving average is $160.86 and its 200 day simple moving average is $176.45. 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 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $2.10 trillion, a price-to-earnings ratio of 21.49, a PEG ratio of 1.34 and a beta of 1.01.
Alphabet (NASDAQ:GOOG - Get Free Report) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. The company had revenue of $90.23 billion for the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The business's revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.89 EPS. Analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current year.
Alphabet Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date is Monday, June 9th. This is an increase from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio is currently 9.36%.
Insiders Place Their Bets
In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $1,837,500.00. Following the sale, the director now owns 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 SEC, which is available through the SEC website. Also, insider John Kent Walker sold 11,764 shares of Alphabet stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $166.84, for a total value of $1,962,705.76. Following the completion of the transaction, the insider now owns 49,037 shares of the company's stock, valued at approximately $8,181,333.08. This trade represents a 19.35% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 164,654 shares of company stock worth $26,793,380. 12.99% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
A number of research firms have recently commented on GOOG. Wedbush restated an "outperform" rating and set a $220.00 price objective on shares of Alphabet in a report on Thursday, January 30th. The Goldman Sachs Group reissued a "buy" rating on shares of Alphabet in a research report on Wednesday, February 5th. Rosenblatt Securities upgraded shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. Needham & Company LLC downgraded shares of Alphabet from a "buy" rating to a "cautious" rating in a report on Friday, May 2nd. Finally, KeyCorp reduced their price objective on shares of Alphabet from $202.00 to $185.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Three analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and five have issued a strong buy rating to the company's stock. According to MarketBeat, Alphabet presently has a consensus rating of "Moderate Buy" and an average target price of $203.94.
Read Our Latest Stock Analysis on Alphabet
Alphabet Profile
(
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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