Consolidated Capital Management LLC bought a new position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 2,203 shares of the information services provider's stock, valued at approximately $344,000.
Several other hedge funds and other institutional investors have also modified their holdings of GOOG. ARQ Wealth Advisors LLC raised its position 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 purchasing an additional 1,400 shares during the last quarter. Independence Bank of Kentucky increased its stake in shares of Alphabet by 10.2% in the 1st quarter. Independence Bank of Kentucky now owns 14,907 shares of the information services provider's stock valued at $2,329,000 after buying an additional 1,376 shares during the period. Harvest Investment Services LLC increased its stake in shares of 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 buying an additional 138 shares during the period. North Forty Two & Co. acquired a new stake in shares of Alphabet in the 4th quarter valued at $281,000. Finally, Fermata Advisors LLC increased its stake in shares of Alphabet by 2.7% in the 1st quarter. Fermata Advisors LLC now owns 9,771 shares of the information services provider's stock valued at $1,527,000 after buying an additional 259 shares during the period. Institutional investors own 27.26% of the company's stock.
Insider Activity at Alphabet
In other news, Director Kavitark Ram Shriram sold 10,500 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 value of $1,837,500.00. Following the transaction, the director owned 261,966 shares in the company, valued at approximately $45,844,050. The trade was a 3.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $170.87, for a total value of $5,553,275.00. Following the completion of the transaction, the chief executive officer owned 2,620,196 shares in the company, valued at approximately $447,712,890.52. This represents a 1.23% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 215,643 shares of company stock valued at $36,330,928. Corporate insiders own 12.99% of the company's stock.
Alphabet Price Performance
Shares of Alphabet stock traded down $2.40 during trading on Tuesday, hitting $175.16. The stock had a trading volume of 24,067,986 shares, compared to its average volume of 21,220,726. The firm has a market cap of $2.13 trillion, a price-to-earnings ratio of 19.53, a P/E/G ratio of 1.27 and a beta of 1.01. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $208.70. The business's 50-day moving average is $170.28 and its 200 day moving average is $175.29. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03.
Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.79. The firm had revenue of $90.23 billion for the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The business's quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.89 earnings per share. As a group, sell-side 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. 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 dividend yield of 0.48%. This is a boost from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. Alphabet's dividend payout ratio (DPR) is currently 9.36%.
Analysts Set New Price Targets
Several research firms have recently commented on GOOG. Citizens Jmp raised Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Thursday, June 26th. Susquehanna reissued a "positive" rating on shares of Alphabet in a research note on Friday, May 2nd. KeyCorp lowered their target price on Alphabet from $202.00 to $185.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. UBS Group lowered their target price on Alphabet from $209.00 to $173.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Finally, Scotiabank decreased 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. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and six have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $206.38.
Get Our Latest Stock Report on GOOG
About Alphabet
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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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