Fedenia Advisers LLC grew its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 30.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,289 shares of the information services provider's stock after acquiring an additional 1,697 shares during the quarter. Alphabet accounts for 0.7% of Fedenia Advisers LLC's holdings, making the stock its 29th biggest position. Fedenia Advisers LLC's holdings in Alphabet were worth $1,127,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Detalus Advisors LLC increased its stake in shares of Alphabet by 16.0% in the 1st quarter. Detalus Advisors LLC now owns 12,541 shares of the information services provider's stock valued at $1,939,000 after acquiring an additional 1,729 shares during the last quarter. Arbor Capital Management Inc. ADV increased its stake in Alphabet by 3.8% during the 1st quarter. Arbor Capital Management Inc. ADV now owns 11,452 shares of the information services provider's stock worth $1,787,000 after purchasing an additional 415 shares in the last quarter. Oregon Pacific Wealth Management LLC increased its stake in Alphabet by 7.5% during the 1st quarter. Oregon Pacific Wealth Management LLC now owns 5,093 shares of the information services provider's stock worth $788,000 after purchasing an additional 354 shares in the last quarter. Harbour Trust & Investment Management Co increased its stake in Alphabet by 0.3% during the 1st quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider's stock worth $4,187,000 after purchasing an additional 80 shares in the last quarter. Finally, Alterna Wealth Management Inc. increased its stake in Alphabet by 15.3% during the 1st quarter. Alterna Wealth Management Inc. now owns 7,655 shares of the information services provider's stock worth $1,184,000 after purchasing an additional 1,018 shares in the last quarter. 40.03% of the stock is owned by institutional investors.
Insider Buying and Selling at Alphabet
In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the completion of the sale, the chief executive officer owned 2,559,892 shares of the company's stock, valued at $456,991,919.84. This trade represents a 1.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 9,000 shares of the firm's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $1,575,000.00. Following the sale, the director directly owned 255,400 shares of the company's stock, valued at $44,695,000. This represents a 3.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold 215,643 shares of company stock valued at $36,330,928 in the last quarter. 11.64% of the stock is currently owned by insiders.
Analyst Ratings Changes
GOOGL has been the subject of a number of research reports. Jefferies Financial Group lowered their target price on Alphabet from $235.00 to $200.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Tigress Financial increased their target price on Alphabet from $220.00 to $240.00 and gave the stock a "strong-buy" rating in a research note on Wednesday, April 30th. Oppenheimer increased their target price on Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a research note on Friday, April 25th. Truist Financial reissued a "buy" rating and set a $200.00 target price on shares of Alphabet in a research note on Wednesday, July 2nd. Finally, Sanford C. Bernstein increased their target price on Alphabet from $165.00 to $185.00 and gave the stock a "market perform" rating in a research note on Friday, April 25th. Ten research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, Alphabet has an average rating of "Moderate Buy" and an average price target of $199.61.
View Our Latest Analysis on GOOGL
Alphabet Stock Up 1.4%
Shares of NASDAQ GOOGL traded up $2.57 during trading hours on Friday, hitting $180.19. The company had a trading volume of 34,243,157 shares, compared to its average volume of 31,915,001. The stock has a market capitalization of $2.19 trillion, a P/E ratio of 20.09, a price-to-earnings-growth ratio of 1.27 and a beta of 1.00. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05. The firm's 50 day moving average is $170.32 and its 200-day moving average is $173.46.
Alphabet (NASDAQ:GOOGL - 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, beating the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The business had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter last year, the firm posted $1.89 EPS. On average, analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
Alphabet Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were issued a dividend of $0.21 per share. This is an increase from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.47%. Alphabet's dividend payout ratio (DPR) is currently 9.36%.
Alphabet Company 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.
See Also
Before you consider Alphabet, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Alphabet wasn't on the list.
While Alphabet currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
