Concurrent Investment Advisors LLC lifted its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 23.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 132,204 shares of the information services provider's stock after purchasing an additional 25,191 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Alphabet were worth $20,654,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. LSV Asset Management acquired a new position in shares of Alphabet in the 4th quarter valued at $27,000. Principia Wealth Advisory LLC boosted its position in shares of Alphabet by 111.8% in the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock valued at $26,000 after purchasing an additional 85 shares during the period. MorganRosel Wealth Management LLC acquired a new position in shares of Alphabet in the 1st quarter valued at $26,000. WealthTrak Capital Management LLC acquired a new position in shares of Alphabet in the 4th quarter valued at $38,000. Finally, Mountain Hill Investment Partners Corp. acquired a new position in shares of Alphabet in the 4th quarter valued at $39,000. Institutional investors and hedge funds own 27.26% of the company's stock.
Alphabet Stock Up 0.3%
GOOG opened at $180.22 on Friday. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70. The business has a 50-day moving average of $169.97 and a 200-day moving average of $175.49. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. The company has a market capitalization of $2.19 trillion, a PE ratio of 20.09, a price-to-earnings-growth 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 for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The company had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same period last year, the business earned $1.89 EPS. The business's quarterly revenue was up 12.0% on a year-over-year basis. Equities research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.
Alphabet Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were paid a dividend of $0.21 per share. The ex-dividend date was Monday, June 9th. This is an increase from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.47%. Alphabet's dividend payout ratio (DPR) is 9.36%.
Insider Transactions at Alphabet
In related news, Director Kavitark Ram Shriram sold 9,000 shares of the firm's 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 $1,575,000.00. Following the transaction, the director directly owned 255,400 shares of the company's stock, valued at approximately $44,695,000. This trade represents a 3.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total value of $5,801,900.00. Following the completion of the transaction, the chief executive officer directly owned 2,559,892 shares in the company, valued at $456,991,919.84. The trade was a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 215,643 shares of company stock valued at $36,330,928 in the last three months. Corporate insiders own 12.99% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts recently weighed in on the company. UBS Group decreased their price target on Alphabet from $209.00 to $173.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Citizens Jmp raised Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Thursday, June 26th. Scotiabank reduced their price objective on Alphabet from $232.00 to $200.00 and set a "sector outperform" rating for the company in a research note on Monday, April 21st. Rosenblatt Securities raised Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. Finally, Tigress Financial reissued a "strong-buy" rating on shares of Alphabet in a research note on Friday, May 2nd. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and six have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $206.38.
View Our Latest Research Report on GOOG
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.
See Also
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