Forte Asset Management LLC bought a new stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 4,128 shares of the information services provider's stock, valued at approximately $645,000.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Principia Wealth Advisory LLC lifted its holdings in Alphabet by 111.8% in the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after buying an additional 85 shares in the last quarter. MorganRosel Wealth Management LLC acquired a new position in Alphabet in the 1st quarter worth $26,000. LSV Asset Management acquired a new stake in shares of Alphabet in the 4th quarter valued at about $27,000. Goodman Advisory Group LLC acquired a new stake in shares of Alphabet in the 1st quarter valued at about $32,000. Finally, WealthTrak Capital Management LLC acquired a new stake in shares of Alphabet in the 4th quarter valued at about $38,000. Institutional investors and hedge funds own 27.26% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on the stock. Westpark Capital restated a "buy" rating and issued a $210.00 target price on shares of Alphabet in a research note on Friday, April 25th. Citizens Jmp upgraded shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Thursday, June 26th. Susquehanna restated a "positive" rating on shares of Alphabet in a research note on Friday, May 2nd. BNP Paribas lowered shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. Finally, JPMorgan Chase & Co. upped their target price on shares of Alphabet from $180.00 to $195.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and six have issued a strong buy rating to the stock. According to MarketBeat, Alphabet currently has a consensus rating of "Moderate Buy" and a consensus target price of $206.38.
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Insiders Place Their Bets
In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $170.87, for a total value of $5,553,275.00. Following the completion of the transaction, the chief executive officer owned 2,620,196 shares in the company, valued at approximately $447,712,890.52. This represents a 1.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of the company's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the completion of the transaction, the director owned 261,966 shares of the company's stock, valued at approximately $45,844,050. This trade represents a 3.85% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 215,643 shares of company stock worth $36,330,928. Insiders own 12.99% of the company's stock.
Alphabet Stock Performance
NASDAQ GOOG traded down $1.64 on Tuesday, hitting $175.92. The stock had a trading volume of 7,017,186 shares, compared to its average volume of 21,157,379. Alphabet Inc. has a one year low of $142.66 and a one year high of $208.70. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. The stock has a market cap of $2.13 trillion, a price-to-earnings ratio of 19.62, a P/E/G ratio of 1.27 and a beta of 1.01. The company's 50-day moving average is $170.28 and its two-hundred day moving average is $175.29.
Alphabet (NASDAQ:GOOG - Get Free Report) last posted its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping 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 firm had revenue of $90.23 billion during the quarter, compared to analysts' expectations of $89.30 billion. During the same quarter in the prior year, the firm earned $1.89 EPS. Alphabet's quarterly revenue was up 12.0% on a year-over-year basis. On average, analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.
Alphabet Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were given a $0.21 dividend. This is a boost 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 0.48%. Alphabet's dividend payout ratio is 9.36%.
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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