Gerber LLC decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 16.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,762 shares of the information services provider's stock after selling 1,672 shares during the quarter. Alphabet makes up 1.1% of Gerber LLC's investment portfolio, making the stock its 16th biggest holding. Gerber LLC's holdings in Alphabet were worth $1,369,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of the stock. Balboa Wealth Partners increased its holdings in Alphabet by 3.5% in the first quarter. Balboa Wealth Partners now owns 46,644 shares of the information services provider's stock valued at $7,287,000 after buying an additional 1,575 shares during the last quarter. Berry Wealth Group LP acquired a new position in shares of Alphabet during the 1st quarter worth about $202,000. G2 Capital Management LLC OH increased its holdings in shares of Alphabet by 0.7% in the 1st quarter. G2 Capital Management LLC OH now owns 16,359 shares of the information services provider's stock valued at $2,556,000 after acquiring an additional 115 shares during the last quarter. Retirement Guys Formula LLC raised its position in shares of Alphabet by 16.2% during the 1st quarter. Retirement Guys Formula LLC now owns 10,352 shares of the information services provider's stock worth $1,617,000 after acquiring an additional 1,446 shares in the last quarter. Finally, Sheets Smith Wealth Management lifted its stake in Alphabet by 8.4% during the first quarter. Sheets Smith Wealth Management now owns 122,271 shares of the information services provider's stock worth $19,102,000 after purchasing an additional 9,514 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.
Alphabet Stock Performance
Alphabet stock traded up $2.94 during mid-day trading on Thursday, reaching $174.43. 25,862,351 shares of the company were exchanged, compared to its average volume of 20,718,857. The firm has a market cap of $2.12 trillion, a PE ratio of 19.45, a price-to-earnings-growth ratio of 1.18 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. The firm's 50-day simple moving average is $166.90 and its two-hundred day simple moving average is $176.24. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70.
Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.79. The firm had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The company's revenue for the quarter was up 12.0% on a year-over-year basis. During the same period last year, the company earned $1.89 earnings per share. Equities 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 issued a $0.21 dividend. This is an increase from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.48%. Alphabet's payout ratio is presently 9.36%.
Wall Street Analyst Weigh In
Several equities analysts have commented on GOOG shares. Rosenblatt Securities upgraded shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. Scotiabank lowered their target price on shares of Alphabet from $232.00 to $200.00 and set a "sector outperform" rating for the company in a report on Monday, April 21st. Susquehanna reaffirmed a "positive" rating on shares of Alphabet in a research report on Friday, May 2nd. Needham & Company LLC cut shares of Alphabet from a "buy" rating to a "cautious" rating in a research report on Friday, May 2nd. Finally, KeyCorp decreased their price objective on shares of Alphabet from $202.00 to $185.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and five have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $204.88.
Read Our Latest Stock Analysis on Alphabet
Insider Buying and Selling
In related news, CAO Amie Thuener O'toole sold 673 shares of the company's 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 transaction, the chief accounting officer now owns 15,303 shares of the company's stock, valued at $2,377,014.99. This represents a 4.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $176.68, for a total value of $5,742,100.00. Following the completion of the transaction, the chief executive officer now owns 2,555,196 shares of the company's stock, valued at $451,452,029.28. The trade was a 1.26% decrease in their position. The disclosure for this sale can be found here. Insiders sold 216,306 shares of company stock valued at $35,782,927 over the last ninety days. Corporate insiders own 12.99% of the company's stock.
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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