Fulton Breakefield Broenniman LLC raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 15.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,526 shares of the information services provider's stock after buying an additional 1,698 shares during the quarter. Fulton Breakefield Broenniman LLC's holdings in Alphabet were worth $1,957,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Hutchinson Capital Management CA grew its stake in shares of Alphabet by 1.5% in 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. Retirement Planning Co of New England Inc. increased its position in shares of Alphabet by 0.4% in the fourth quarter. Retirement Planning Co of New England Inc. now owns 15,977 shares of the information services provider's stock worth $3,043,000 after acquiring an additional 56 shares in the last quarter. Concentrum Wealth Management increased its position in shares of Alphabet by 0.3% in the fourth quarter. Concentrum Wealth Management now owns 17,328 shares of the information services provider's stock worth $3,300,000 after acquiring an additional 57 shares in the last quarter. JDM Financial Group LLC increased its position in shares of Alphabet by 10.6% in the fourth quarter. JDM Financial Group LLC now owns 593 shares of the information services provider's stock worth $113,000 after acquiring an additional 57 shares in the last quarter. Finally, Kidder Stephen W increased its position in shares of Alphabet by 1.6% in the fourth quarter. Kidder Stephen W now owns 3,608 shares of the information services provider's stock worth $687,000 after acquiring an additional 58 shares in the last quarter. 27.26% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In related news, Director Kavitark Ram Shriram sold 10,500 shares of the business'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 $1,837,500.00. Following the transaction, the director owned 261,966 shares of the company's stock, valued at approximately $45,844,050. The trade was a 3.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the business'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 transaction, the chief executive officer directly owned 2,559,892 shares in the company, valued at $456,991,919.84. This trade represents a 1.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 215,443 shares of company stock valued at $36,298,548 over the last 90 days. 12.99% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on GOOG shares. Westpark Capital reissued a "buy" rating and issued a $210.00 target price on shares of Alphabet in a research report on Friday, April 25th. Rosenblatt Securities raised shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. Barclays restated a "buy" rating on shares of Alphabet in a report on Wednesday. KeyCorp decreased their price target on shares of Alphabet from $202.00 to $185.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Finally, Wells Fargo & Company restated an "equal weight" rating on shares of Alphabet in a report on Wednesday. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, eighteen have given a buy rating and six have assigned 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 a consensus target price of $207.13.
Check Out Our Latest Stock Report on GOOG
Alphabet Stock Performance
Shares of NASDAQ:GOOG traded up $0.63 during trading on Monday, reaching $181.94. The stock had a trading volume of 9,452,756 shares, compared to its average volume of 21,404,242. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $208.70. The firm has a market capitalization of $2.21 trillion, a price-to-earnings ratio of 20.24, a P/E/G ratio of 1.27 and a beta of 1.01. 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 fifty day simple moving average of $171.50 and a two-hundred day simple moving average of $174.76.
Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The company had revenue of $90.23 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same quarter last year, the firm posted $1.89 earnings per share. The company's quarterly revenue was up 12.0% compared to the same quarter last year. As a group, analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.
Alphabet Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were given a $0.21 dividend. This is a positive change from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.46%. Alphabet's dividend payout ratio (DPR) is currently 9.36%.
Alphabet Company Profile
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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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