Good Life Advisors LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 7.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,543 shares of the information services provider's stock after purchasing an additional 1,656 shares during the quarter. Good Life Advisors LLC's holdings in Alphabet were worth $3,795,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the stock. FMR LLC increased its holdings in shares of Alphabet by 9.8% during the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock worth $47,025,322,000 after acquiring an additional 22,100,902 shares during the last quarter. Norges Bank acquired a new position in shares of Alphabet during the 4th quarter worth approximately $24,383,677,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Alphabet by 8.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 98,638,127 shares of the information services provider's stock worth $18,672,198,000 after acquiring an additional 7,574,417 shares during the last quarter. Capital Research Global Investors increased its holdings in shares of Alphabet by 16.2% during the 4th quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock worth $13,635,878,000 after acquiring an additional 10,037,685 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Alphabet by 17.0% during the 4th quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock worth $13,178,470,000 after acquiring an additional 10,135,430 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.
Insider Buying and Selling at Alphabet
In other news, insider John Kent Walker sold 11,764 shares of Alphabet stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $166.84, for a total value of $1,962,705.76. Following the completion of the transaction, the insider now directly owns 49,037 shares in the company, valued at approximately $8,181,333.08. The trade was a 19.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O'toole sold 673 shares of Alphabet stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total value of $104,537.09. Following the completion of the transaction, the chief accounting officer now owns 15,303 shares of the company's stock, valued at approximately $2,377,014.99. This trade represents a 4.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 195,570 shares of company stock worth $32,003,532 over the last ninety days. 11.64% of the stock is currently owned by company insiders.
Alphabet Stock Performance
Shares of GOOGL traded down $2.63 during mid-day trading on Wednesday, hitting $173.32. The stock had a trading volume of 28,640,034 shares, compared to its average volume of 30,477,164. The firm has a market cap of $2.10 trillion, a P/E ratio of 19.32, a PEG ratio of 1.12 and a beta of 1.01. The business has a fifty day moving average price of $163.88 and a 200-day moving average price of $174.74. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05.
Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.79. The firm had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. During the same period in the previous year, the company posted $1.89 earnings per share. On average, equities research analysts expect that Alphabet Inc. will post 8.9 EPS 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 paid a $0.21 dividend. The ex-dividend date was Monday, June 9th. This is a positive change from Alphabet's previous quarterly dividend of $0.20. 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
GOOGL has been the subject of several recent research reports. Roth Mkm restated a "buy" rating and issued a $220.00 price target on shares of Alphabet in a research note on Wednesday, March 19th. JMP Securities reissued a "market perform" rating on shares of Alphabet in a research note on Wednesday, May 21st. Westpark Capital reaffirmed a "buy" rating and set a $210.00 target price on shares of Alphabet in a research note on Thursday, May 8th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $200.00 price target on shares of Alphabet in a report on Wednesday, April 23rd. Finally, KeyCorp increased their price target on Alphabet from $185.00 to $195.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. Ten research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $199.75.
Read Our Latest Stock Analysis on GOOGL
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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