Fishman Jay A Ltd. MI reduced its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 27.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 51,840 shares of the information services provider's stock after selling 19,465 shares during the period. Alphabet comprises about 0.9% of Fishman Jay A Ltd. MI's holdings, making the stock its 21st largest holding. Fishman Jay A Ltd. MI's holdings in Alphabet were worth $8,099,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of GOOG. Sterling Financial Planning Inc. increased its stake in shares of Alphabet by 2.6% in the 4th quarter. Sterling Financial Planning Inc. now owns 1,941 shares of the information services provider's stock valued at $370,000 after buying an additional 50 shares during the period. Ethos Financial Group LLC increased its position in Alphabet by 0.7% in the fourth quarter. Ethos Financial Group LLC now owns 7,300 shares of the information services provider's stock worth $1,395,000 after purchasing an additional 53 shares during the period. Hutchinson Capital Management CA raised its holdings in Alphabet by 1.5% during the 4th quarter. Hutchinson Capital Management CA now owns 3,555 shares of the information services provider's stock worth $677,000 after purchasing an additional 54 shares during the last quarter. M. Kulyk & Associates LLC raised its holdings in Alphabet by 0.9% during the 4th quarter. M. Kulyk & Associates LLC now owns 6,445 shares of the information services provider's stock worth $1,227,000 after purchasing an additional 56 shares during the last quarter. Finally, Retirement Planning Co of New England Inc. lifted its position in Alphabet by 0.4% during the 4th quarter. Retirement Planning Co of New England Inc. now owns 15,977 shares of the information services provider's stock valued at $3,043,000 after purchasing an additional 56 shares during the period. Hedge funds and other institutional investors own 27.26% of the company's stock.
Insider Activity
In other news, CAO Amie Thuener O'toole sold 673 shares of Alphabet stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total transaction of $104,537.09. Following the sale, the chief accounting officer now directly owns 15,303 shares in the company, valued at $2,377,014.99. The trade was a 4.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John Kent Walker sold 11,764 shares of the stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the transaction, the insider now owns 49,037 shares of the company's stock, valued at approximately $8,181,333.08. The trade was a 19.35% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 228,070 shares of company stock worth $37,745,632 over the last quarter. Insiders own 12.99% of the company's stock.
Alphabet Trading Up 2.2%
GOOG stock traded up $3.75 during midday trading on Wednesday, hitting $171.49. The stock had a trading volume of 23,586,982 shares, compared to its average volume of 20,698,113. The firm has a market cap of $2.08 trillion, a P/E ratio of 19.12, a price-to-earnings-growth ratio of 1.18 and a beta of 1.01. 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 has a fifty day moving average price of $166.58 and a two-hundred day moving average price of $176.27. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70.
Alphabet (NASDAQ:GOOG - Get Free Report) last posted 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 net margin of 30.86% and a return on equity of 34.54%. The business had revenue of $90.23 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. Alphabet's revenue was up 12.0% compared to the same quarter last year. On average, sell-side analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.
Alphabet Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were paid a $0.21 dividend. 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. This represents a $0.84 annualized dividend and a dividend yield of 0.49%. Alphabet's dividend payout ratio is presently 9.36%.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on the company. Rosenblatt Securities raised Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. Oppenheimer boosted their price target on shares of Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a report on Friday, April 25th. Tigress Financial reaffirmed a "strong-buy" rating on shares of Alphabet in a research note on Friday, May 2nd. Westpark Capital reissued a "buy" rating and issued a $210.00 target price on shares of Alphabet in a research note on Friday, April 25th. Finally, UBS Group dropped their price target on Alphabet from $209.00 to $173.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $204.88.
Check Out Our Latest Research Report on Alphabet
About Alphabet
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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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