Empowered Funds LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 9.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 119,386 shares of the information services provider's stock after acquiring an additional 10,289 shares during the quarter. Empowered Funds LLC's holdings in Alphabet were worth $18,652,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the company. JDM Financial Group LLC lifted its stake in Alphabet by 10.6% in the fourth quarter. JDM Financial Group LLC now owns 593 shares of the information services provider's stock valued at $113,000 after buying an additional 57 shares during the period. NCM Capital Management LLC lifted its stake in Alphabet by 2.2% in the first quarter. NCM Capital Management LLC now owns 2,802 shares of the information services provider's stock valued at $438,000 after buying an additional 60 shares during the period. Faithward Advisors LLC lifted its stake in Alphabet by 2.5% in the first quarter. Faithward Advisors LLC now owns 2,505 shares of the information services provider's stock valued at $391,000 after buying an additional 61 shares during the period. Objectivity Squared LLC lifted its stake in Alphabet by 0.4% in the first quarter. Objectivity Squared LLC now owns 16,342 shares of the information services provider's stock valued at $2,605,000 after buying an additional 62 shares during the period. Finally, Tranquility Partners LLC lifted its stake in Alphabet by 0.4% in the first quarter. Tranquility Partners LLC now owns 14,488 shares of the information services provider's stock valued at $2,263,000 after buying an additional 63 shares during the period. Institutional investors and hedge funds own 27.26% of the company's stock.
Alphabet Stock Down 0.4%
Shares of Alphabet stock opened at $234.16 on Tuesday. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $238.40. The business has a 50-day moving average of $197.78 and a two-hundred day moving average of $177.12. The company has a market capitalization of $2.83 trillion, a P/E ratio of 24.94, a price-to-earnings-growth ratio of 1.58 and a beta of 1.01. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.
Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (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 company had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. During the same period in the prior year, the company earned $1.89 earnings per share. The company's revenue for the quarter was up 13.8% compared to the same quarter last year. As a group, equities analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.
Alphabet Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. Alphabet's dividend payout ratio (DPR) is presently 8.95%.
Analyst Upgrades and Downgrades
Several research firms have weighed in on GOOG. JPMorgan Chase & Co. increased their target price on Alphabet from $232.00 to $260.00 and gave the company an "overweight" rating in a research note on Wednesday, September 3rd. Scotiabank increased their target price on Alphabet from $200.00 to $240.00 and gave the company a "sector outperform" rating in a research note on Tuesday, July 22nd. Phillip Securities lowered Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research note on Monday. Wells Fargo & Company reissued an "equal weight" rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, BNP Paribas lowered Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. Four investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of "Moderate Buy" and an average price target of $227.56.
View Our Latest Analysis on GOOG
Insider Transactions at Alphabet
In related news, insider John Kent Walker sold 23,820 shares of the stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the transaction, the insider directly owned 42,999 shares in the company, valued at approximately $8,371,905.30. This trade represents a 35.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $199.92, for a total value of $6,497,400.00. Following the transaction, the chief executive officer owned 2,462,392 shares of the company's stock, valued at approximately $492,281,408.64. The trade was a 1.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 254,710 shares of company stock valued at $49,208,380 in the last ninety days. Corporate insiders own 12.99% of the company's stock.
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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