Exchange Traded Concepts LLC raised its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 9.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 790,182 shares of the information services provider's stock after buying an additional 69,755 shares during the quarter. Alphabet comprises about 2.1% of Exchange Traded Concepts LLC's portfolio, making the stock its 7th biggest holding. Exchange Traded Concepts LLC's holdings in Alphabet were worth $122,194,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors also recently bought and sold shares of GOOGL. Rockbridge Capital Management LLC acquired a new stake in shares of Alphabet during the fourth quarter worth about $3,119,000. Optivise Advisory Services LLC lifted its position in shares of Alphabet by 8.0% during the fourth quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider's stock worth $1,035,000 after purchasing an additional 403 shares in the last quarter. Community Bank N.A. lifted its position in shares of Alphabet by 6.4% during the fourth quarter. Community Bank N.A. now owns 46,173 shares of the information services provider's stock worth $8,741,000 after purchasing an additional 2,790 shares in the last quarter. Premier Fund Managers Ltd lifted its position in shares of Alphabet by 30.0% during the fourth quarter. Premier Fund Managers Ltd now owns 61,792 shares of the information services provider's stock worth $11,816,000 after purchasing an additional 14,262 shares in the last quarter. Finally, Absolute Capital Management LLC lifted its position in shares of Alphabet by 14.0% during the fourth quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider's stock worth $401,000 after purchasing an additional 258 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.
Insider Activity at Alphabet
In other Alphabet news, Director John L. Hennessy sold 200 shares of the firm's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $161.90, for a total value of $32,380.00. Following the completion of the sale, the director now owns 7,613 shares of the company's stock, valued at approximately $1,232,544.70. This trade represents a 2.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Kent Walker sold 11,764 shares of the firm's stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $166.84, for a total value of $1,962,705.76. Following the completion of the sale, the insider now directly owns 49,037 shares of the company's stock, valued at approximately $8,181,333.08. This trade represents a 19.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 195,570 shares of company stock worth $32,003,532 in the last three months. Insiders own 11.64% of the company's stock.
Alphabet Stock Performance
Shares of GOOGL opened at $176.77 on Tuesday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm has a market cap of $2.15 trillion, a PE ratio of 21.96, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The company's 50 day simple moving average is $163.53 and its 200-day simple moving average is $174.74. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05.
Alphabet (NASDAQ:GOOGL - Get Free Report) last issued 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. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The firm had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same period last year, the company earned $1.89 earnings per share. As a group, equities analysts predict that Alphabet Inc. will post 8.9 EPS 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 given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.48%. This is a positive change from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 9th. Alphabet's dividend payout ratio (DPR) is 9.36%.
Wall Street Analysts Forecast Growth
Several analysts have recently issued reports on GOOGL shares. Mizuho reduced their price target on shares of Alphabet from $230.00 to $205.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Royal Bank of Canada restated an "outperform" rating and set a $200.00 target price on shares of Alphabet in a research note on Wednesday, April 23rd. JMP Securities restated a "market perform" rating on shares of Alphabet in a research note on Wednesday, May 21st. Needham & Company LLC restated a "buy" rating and set a $178.00 target price on shares of Alphabet in a research note on Friday, April 25th. Finally, Susquehanna cut their target price on shares of Alphabet from $225.00 to $220.00 and set a "positive" rating on the stock in a research note on Friday, April 25th. Ten research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat.com, Alphabet presently has an average rating of "Moderate Buy" and a consensus price target of $199.75.
Check Out Our Latest Stock Analysis on GOOGL
About Alphabet
(
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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