Gabelli Funds LLC decreased its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 3.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 521,725 shares of the information services provider's stock after selling 15,920 shares during the quarter. Alphabet makes up about 0.6% of Gabelli Funds LLC's investment portfolio, making the stock its 28th largest position. Gabelli Funds LLC's holdings in Alphabet were worth $81,509,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. ARQ Wealth Advisors LLC raised its position in Alphabet by 39.3% in the 4th quarter. ARQ Wealth Advisors LLC now owns 4,964 shares of the information services provider's stock valued at $945,000 after purchasing an additional 1,400 shares during the last quarter. Independence Bank of Kentucky raised its position in shares of Alphabet by 10.2% during the first quarter. Independence Bank of Kentucky now owns 14,907 shares of the information services provider's stock worth $2,329,000 after acquiring an additional 1,376 shares during the last quarter. Fermata Advisors LLC raised its position in shares of Alphabet by 2.7% during the first quarter. Fermata Advisors LLC now owns 9,771 shares of the information services provider's stock worth $1,527,000 after acquiring an additional 259 shares during the last quarter. jvl associates llc raised its position in shares of Alphabet by 3.5% during the first quarter. jvl associates llc now owns 10,055 shares of the information services provider's stock worth $1,571,000 after acquiring an additional 343 shares during the last quarter. Finally, Members Trust Co raised its position in shares of Alphabet by 84.7% during the first quarter. Members Trust Co now owns 4,999 shares of the information services provider's stock worth $781,000 after acquiring an additional 2,292 shares during the last quarter. Institutional investors own 27.26% of the company's stock.
Insiders Place Their Bets
In other Alphabet news, insider John Kent Walker sold 23,820 shares of the business's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the transaction, the insider directly owned 42,999 shares of the company's stock, valued at approximately $8,371,905.30. The trade was a 35.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total value of $5,801,900.00. Following the completion of the transaction, the chief executive officer directly owned 2,559,892 shares of the company's stock, valued at approximately $456,991,919.84. The trade was a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 254,719 shares of company stock valued at $47,223,172 in the last three months. Insiders own 12.99% of the company's stock.
Alphabet Trading Up 0.1%
Shares of Alphabet stock traded up $0.26 during trading on Wednesday, reaching $208.21. 15,225,916 shares of the company were exchanged, compared to its average volume of 19,293,208. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $211.09. The business has a 50-day moving average price of $189.63 and a 200-day moving average price of $175.22. The firm has a market capitalization of $2.52 trillion, a price-to-earnings ratio of 22.17, a P/E/G ratio of 1.40 and a beta of 1.02.
Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts' consensus estimates of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The business had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.67 billion. During the same period in the previous year, the firm earned $1.89 earnings per share. The firm's quarterly revenue was up 13.8% compared to the same quarter last year. Sell-side analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.
Alphabet Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's payout ratio is presently 8.95%.
Wall Street Analysts Forecast Growth
GOOG has been the subject of a number of recent research reports. UBS Group boosted their target price on Alphabet from $186.00 to $192.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 16th. Needham & Company LLC downgraded Alphabet from a "buy" rating to a "cautious" rating in a research report on Friday, May 2nd. Lake Street Capital restated a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. The Goldman Sachs Group restated a "buy" rating and set a $220.00 target price on shares of Alphabet in a research report on Monday, June 2nd. Finally, Susquehanna restated a "positive" rating on shares of Alphabet in a research report on Friday, May 2nd. Five research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, six have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $215.19.
View Our Latest Stock Report on GOOG
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.
Further Reading
Before you consider Alphabet, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Alphabet wasn't on the list.
While Alphabet currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Market downturns give many investors pause, and for good reason. Wondering how to offset this risk? Enter your email address to learn more about using beta to protect your portfolio.
Get This Free Report
MarketBeat All Access