Alphabet Inc. (NASDAQ:GOOGL) Stake Raised by Fisher Funds Management LTD

Fisher Funds Management LTD lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 954,623 shares of the information services provider's stock after buying an additional 32,237 shares during the quarter. Alphabet makes up 3.6% of Fisher Funds Management LTD's holdings, making the stock its 3rd largest holding. Fisher Funds Management LTD's holdings in Alphabet were worth $147,623,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Wealth Group Ltd. boosted its holdings in shares of Alphabet by 5.2% in the 4th quarter. Wealth Group Ltd. now owns 1,582 shares of the information services provider's stock valued at $299,000 after buying an additional 78 shares in the last quarter. Eagle Capital Management LLC boosted its stake in Alphabet by 0.7% in the fourth quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider's stock valued at $9,490,000 after acquiring an additional 371 shares in the last quarter. Brighton Jones LLC boosted its stake in Alphabet by 3.9% in the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock valued at $20,886,000 after acquiring an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC grew its holdings in Alphabet by 3.5% in the fourth 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 last quarter. Finally, Highview Capital Management LLC DE increased its position in shares of Alphabet by 3.6% during the fourth quarter. Highview Capital Management LLC DE now owns 29,100 shares of the information services provider's stock worth $5,509,000 after purchasing an additional 1,003 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.

Alphabet Price Performance

GOOGL traded up $2.57 during trading on Friday, hitting $180.19. The company's stock had a trading volume of 34,243,157 shares, compared to its average volume of 37,750,108. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The firm has a market capitalization of $2.19 trillion, a price-to-earnings ratio of 19.80, a P/E/G ratio of 1.25 and a beta of 1.00. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. The business's fifty day simple moving average is $169.99 and its 200 day simple moving average is $173.57.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. The company had revenue of $76.49 billion during the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. During the same period in the prior year, the business posted $1.89 earnings per share. On average, equities research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were paid a $0.21 dividend. The ex-dividend date was Monday, June 9th. This is a positive change from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.47%. Alphabet's dividend payout ratio (DPR) is currently 9.36%.

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 600 shares of the company's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $105,000.00. Following the completion of the sale, the director owned 6,813 shares of the company's stock, valued at $1,192,275. This represents a 8.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 9,000 shares of the stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $1,575,000.00. Following the completion of the sale, the director owned 255,400 shares of the company's stock, valued at approximately $44,695,000. The trade was a 3.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 215,643 shares of company stock valued at $36,330,928 over the last ninety days. Insiders own 11.64% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Truist Financial reissued a "buy" rating and issued a $200.00 price objective on shares of Alphabet in a research report on Wednesday, July 2nd. Morgan Stanley decreased their price target on Alphabet from $210.00 to $185.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Sanford C. Bernstein raised their price target on Alphabet from $165.00 to $185.00 and gave the stock a "market perform" rating in a report on Friday, April 25th. Needham & Company LLC restated a "buy" rating and set a $178.00 price objective on shares of Alphabet in a report on Friday, April 25th. Finally, Citizens Jmp upgraded shares of Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 target price for the company in a research note on Friday, June 27th. Ten research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $199.61.

Alphabet Profile

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.