Diversified Trust Co lifted its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 4.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 121,091 shares of the information services provider's stock after buying an additional 4,634 shares during the period. Alphabet makes up about 0.5% of Diversified Trust Co's portfolio, making the stock its 29th largest position. Diversified Trust Co's holdings in Alphabet were worth $18,918,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Beacon Financial Advisory LLC grew its position in shares of Alphabet by 4.4% in the 1st quarter. Beacon Financial Advisory LLC now owns 4,098 shares of the information services provider's stock worth $640,000 after buying an additional 174 shares during the last quarter. Hidden Cove Wealth Management LLC increased its stake in Alphabet by 20.9% during the 1st quarter. Hidden Cove Wealth Management LLC now owns 1,606 shares of the information services provider's stock valued at $251,000 after purchasing an additional 278 shares in the last quarter. Tranquility Partners LLC increased its stake in Alphabet by 0.4% during the 1st quarter. Tranquility Partners LLC now owns 14,488 shares of the information services provider's stock valued at $2,263,000 after purchasing an additional 63 shares in the last quarter. Primoris Wealth Advisors LLC increased its stake in Alphabet by 0.4% during the 1st quarter. Primoris Wealth Advisors LLC now owns 16,800 shares of the information services provider's stock valued at $2,625,000 after purchasing an additional 75 shares in the last quarter. Finally, HighMark Wealth Management LLC increased its stake in Alphabet by 7.5% during the 1st quarter. HighMark Wealth Management LLC now owns 1,311 shares of the information services provider's stock valued at $205,000 after purchasing an additional 92 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.
Alphabet Stock Performance
NASDAQ GOOG traded up $3.84 during mid-day trading on Friday, reaching $178.27. 73,956,281 shares of the stock were exchanged, compared to its average volume of 20,984,165. The business's 50 day moving average is $167.82 and its 200-day moving average is $176.02. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70. The company has a market capitalization of $2.16 trillion, a P/E ratio of 19.87, a P/E/G ratio of 1.26 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77.
Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The firm had revenue of $90.23 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same period in the prior year, the firm posted $1.89 earnings per share. The firm's quarterly revenue was up 12.0% compared to the same quarter last year. On average, 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. Investors of record on Monday, June 9th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend 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 yield of 0.47%. Alphabet's dividend payout ratio is 9.36%.
Wall Street Analysts Forecast Growth
GOOG has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. upped their price target on shares of Alphabet from $180.00 to $195.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Susquehanna reaffirmed a "positive" rating on shares of Alphabet in a report on Friday, May 2nd. Westpark Capital reaffirmed a "buy" rating and issued a $210.00 price objective on shares of Alphabet in a report on Friday, April 25th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $220.00 price objective on shares of Alphabet in a report on Monday, June 2nd. Finally, Citigroup reaffirmed a "sell" rating on shares of Alphabet in a report on Wednesday, April 23rd. Three equities 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. According to data from MarketBeat, the stock 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 John L. Hennessy sold 200 shares of the company's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $161.90, for a total transaction of $32,380.00. Following the completion of the transaction, the director now directly owns 7,613 shares in the company, valued at approximately $1,232,544.70. This represents a 2.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the company's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the transaction, the director now owns 261,966 shares of the company's stock, valued at $45,844,050. This represents a 3.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 216,195 shares of company stock worth $35,764,898. Company insiders own 12.99% of the company's stock.
Alphabet Profile
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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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