GF Fund Management CO. LTD. lifted its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 478,232 shares of the information services provider's stock after acquiring an additional 7,190 shares during the period. Alphabet accounts for approximately 1.7% of GF Fund Management CO. LTD.'s holdings, making the stock its 12th biggest position. GF Fund Management CO. LTD.'s holdings in Alphabet were worth $73,954,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the stock. Wealth Group Ltd. increased its position in shares of Alphabet by 5.2% during the 4th quarter. Wealth Group Ltd. now owns 1,582 shares of the information services provider's stock valued at $299,000 after purchasing an additional 78 shares during the period. Eagle Capital Management LLC boosted its stake in Alphabet by 0.7% during the fourth quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider's stock valued at $9,490,000 after buying an additional 371 shares in the last quarter. Brighton Jones LLC boosted its stake in Alphabet by 3.9% during the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock valued at $20,886,000 after buying an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC grew its holdings in Alphabet by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock worth $2,826,000 after acquiring an additional 506 shares during the period. Finally, Highview Capital Management LLC DE raised its position in Alphabet by 3.6% in the fourth quarter. Highview Capital Management LLC DE now owns 29,100 shares of the information services provider's stock worth $5,509,000 after acquiring an additional 1,003 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.
Alphabet Stock Up 1.4%
GOOGL stock traded up $2.57 during mid-day trading on Friday, hitting $180.19. The stock had a trading volume of 34,243,157 shares, compared to its average volume of 37,750,108. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05. The company has a fifty day moving average of $169.99 and a 200 day moving average of $173.57. 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 stock has a market capitalization of $2.19 trillion, a price-to-earnings ratio of 19.80, a PEG ratio of 1.25 and a beta of 1.00.
Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating the consensus estimate of $2.02 by $0.79. The business had revenue of $76.49 billion during the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. During the same quarter in the previous year, the business posted $1.89 EPS. On average, equities analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.
Alphabet Increases Dividend
The firm 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 represents a $0.84 annualized dividend and a yield of 0.47%. This is an increase from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. Alphabet's payout ratio is currently 9.36%.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on GOOGL shares. Morgan Stanley reduced their price objective on shares of Alphabet from $210.00 to $185.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. KeyCorp lifted their price target on shares of Alphabet from $185.00 to $195.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Truist Financial reaffirmed a "buy" rating and issued a $200.00 price target on shares of Alphabet in a report on Wednesday, July 2nd. Royal Bank Of Canada reissued an "outperform" rating and set a $200.00 price objective on shares of Alphabet in a research note on Wednesday, April 23rd. Finally, Sanford C. Bernstein lifted their target price on Alphabet from $165.00 to $185.00 and gave the stock a "market perform" rating in a report on Friday, April 25th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $199.61.
Get Our Latest Stock Analysis on Alphabet
Insider Transactions at Alphabet
In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $170.87, for a total transaction of $5,553,275.00. Following the transaction, the chief executive officer directly owned 2,620,196 shares of the company's stock, valued at $447,712,890.52. This represents a 1.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John L. Hennessy sold 600 shares of the business's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $105,000.00. Following the completion of the sale, the director directly owned 6,813 shares of the company's stock, valued at $1,192,275. This represents a 8.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 215,643 shares of company stock worth $36,330,928 in the last 90 days. 11.64% of the stock is owned by insiders.
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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