EFG Asset Management Americas Corp. lessened its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 24.0% in the first quarter, according to its most recent filing with the SEC. The firm owned 50,422 shares of the information services provider's stock after selling 15,942 shares during the quarter. Alphabet makes up approximately 1.6% of EFG Asset Management Americas Corp.'s investment portfolio, making the stock its 15th largest holding. EFG Asset Management Americas Corp.'s holdings in Alphabet were worth $7,877,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in Alphabet by 18,562.3% in the first quarter. GAMMA Investing LLC now owns 14,323,323 shares of the information services provider's stock valued at $2,237,733,000 after buying an additional 14,246,573 shares during the period. Northern Trust Corp grew its position in Alphabet by 16.1% in the 4th quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock valued at $10,873,751,000 after purchasing an additional 7,917,625 shares during the period. Capital International Investors increased its position in shares of Alphabet by 6.7% during the fourth quarter. Capital International Investors now owns 91,236,069 shares of the information services provider's stock worth $17,376,706,000 after acquiring an additional 5,758,244 shares in the last quarter. Sanders Capital LLC boosted its stake in Alphabet by 14.5% during the 4th quarter. Sanders Capital LLC now owns 33,504,543 shares of the information services provider's stock valued at $6,380,605,000 after purchasing an additional 4,247,379 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Alphabet in the 4th quarter valued at $786,942,000. Institutional investors own 27.26% of the company's stock.
Insider Activity at Alphabet
In other news, Director John L. Hennessy sold 400 shares of Alphabet stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $181.98, for a total transaction of $72,792.00. Following the completion of the sale, the director owned 6,013 shares in the company, valued at approximately $1,094,245.74. This trade represents a 6.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the business's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the transaction, the director directly owned 243,400 shares of the company's stock, valued at $45,213,984. The trade was a 7.09% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 249,399 shares of company stock valued at $43,525,794. Company insiders own 12.99% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms have issued reports on GOOG. Westpark Capital reaffirmed a "buy" rating and set a $210.00 price objective on shares of Alphabet in a report on Friday, April 25th. BNP Paribas cut shares of Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, June 26th. UBS Group upped their price objective on shares of Alphabet from $186.00 to $192.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 16th. Pivotal Research lifted their target price on shares of Alphabet from $225.00 to $245.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Finally, Needham & Company LLC downgraded Alphabet from a "buy" rating to a "cautious" rating in a research note on Friday, May 2nd. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $215.19.
Check Out Our Latest Analysis on GOOG
Alphabet Stock Performance
Shares of Alphabet stock traded down $2.52 during trading hours on Friday, reaching $190.34. The company had a trading volume of 6,816,322 shares, compared to its average volume of 24,221,965. The firm has a market cap of $2.31 trillion, a PE ratio of 20.33, a price-to-earnings-growth ratio of 1.31 and a beta of 1.01. Alphabet Inc. has a one year low of $142.66 and a one year high of $208.70. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The business has a fifty day simple moving average of $178.96 and a 200 day simple moving average of $174.70.
Alphabet (NASDAQ:GOOG - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The business had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. During the same quarter last year, the company earned $1.89 EPS. The firm's revenue was up 13.8% compared to the same quarter last year. On average, analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.
Alphabet Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.4%. Alphabet's dividend payout ratio (DPR) is currently 8.95%.
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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