Financiere des Professionnels Fonds d investissement inc. increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 32.2% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 51,507 shares of the information services provider's stock after purchasing an additional 12,547 shares during the quarter. Financiere des Professionnels Fonds d investissement inc.'s holdings in Alphabet were worth $9,077,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC boosted its stake in Alphabet by 3.9% in the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock valued at $20,886,000 after purchasing an additional 4,110 shares during the period. Revolve Wealth Partners LLC lifted its position in shares of Alphabet by 3.5% in the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock worth $2,826,000 after purchasing an additional 506 shares during the period. Castlekeep Investment Advisors LLC bought a new stake in shares of Alphabet during the 4th quarter valued at about $321,000. Vermillion Wealth Management Inc. bought a new stake in shares of Alphabet during the fourth quarter valued at approximately $223,000. Finally, Putney Financial Group LLC bought a new position in shares of Alphabet in the fourth quarter valued at $7,790,000. Institutional investors and hedge funds own 40.03% of the company's stock.
Alphabet Stock Up 1.1%
Shares of NASDAQ GOOGL opened at $254.72 on Monday. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. The firm's fifty day moving average is $209.36 and its 200 day moving average is $180.41. The company has a market cap of $3.08 trillion, a price-to-earnings ratio of 27.13, a PEG ratio of 1.72 and a beta of 1.01. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $256.00.
Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping analysts' consensus estimates of $2.15 by $0.16. The company had revenue of $96.43 billion during the quarter, compared to analyst estimates of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. On average, equities research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.
Alphabet Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet's dividend payout ratio (DPR) is currently 8.95%.
Analysts Set New Price Targets
GOOGL has been the subject of several analyst reports. Cantor Fitzgerald increased their target price on shares of Alphabet from $196.00 to $201.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Wells Fargo & Company increased their price target on Alphabet from $184.00 to $187.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 29th. UBS Group lifted their price target on Alphabet from $192.00 to $202.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. KeyCorp increased their price target on shares of Alphabet from $230.00 to $265.00 and gave the stock an "overweight" rating in a report on Wednesday, September 3rd. Finally, Needham & Company LLC raised their price target on Alphabet from $220.00 to $260.00 and gave the company a "buy" rating in a report on Wednesday, September 3rd. Three analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, Alphabet presently has an average rating of "Moderate Buy" and a consensus price target of $225.54.
Get Our Latest Stock Analysis on GOOGL
Insider Transactions at Alphabet
In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the sale, the chief executive officer directly owned 2,429,892 shares in the company, valued at $558,219,089.16. The trade was a 1.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of the company's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the sale, the director owned 243,400 shares in the company, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 258,088 shares of company stock worth $52,405,304 over the last quarter. Insiders own 11.55% of the company's stock.
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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