Gouws Capital LLC lifted its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 6.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 61,256 shares of the information services provider's stock after acquiring an additional 3,601 shares during the quarter. Alphabet makes up 5.7% of Gouws Capital LLC's portfolio, making the stock its 4th biggest holding. Gouws Capital LLC's holdings in Alphabet were worth $9,570,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also modified their holdings of GOOG. Nuveen LLC acquired a new position in shares of Alphabet in the first quarter worth $2,622,943,000. GAMMA Investing LLC increased its position in Alphabet by 18,562.3% during the first quarter. GAMMA Investing LLC now owns 14,323,323 shares of the information services provider's stock worth $2,237,733,000 after buying an additional 14,246,573 shares during the last quarter. Vanguard Group Inc. increased its position in Alphabet by 2.4% during the first quarter. Vanguard Group Inc. now owns 411,570,922 shares of the information services provider's stock worth $64,299,725,000 after buying an additional 9,687,855 shares during the last quarter. JPMorgan Chase & Co. increased its position in Alphabet by 9.9% during the first quarter. JPMorgan Chase & Co. now owns 102,232,997 shares of the information services provider's stock worth $15,971,861,000 after buying an additional 9,243,959 shares during the last quarter. Finally, Northern Trust Corp increased its position in Alphabet by 16.1% during the fourth quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock worth $10,873,751,000 after buying an additional 7,917,625 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.
Alphabet Stock Performance
NASDAQ:GOOG opened at $202.11 on Monday. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70. The firm has a 50 day moving average of $181.90 and a 200-day moving average of $174.35. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $2.44 trillion, a P/E ratio of 21.52, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02.
Alphabet (NASDAQ:GOOG - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96.43 billion during the quarter, compared to analysts' expectations of $93.67 billion. During the same quarter in the previous year, the company posted $1.89 earnings per share. Alphabet's quarterly revenue was up 13.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.
Alphabet Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be paid a $0.21 dividend. The ex-dividend date is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. Alphabet's payout ratio is 8.95%.
Wall Street Analysts Forecast Growth
GOOG has been the topic of several analyst reports. Lake Street Capital reissued a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Tigress Financial reissued a "strong-buy" rating on shares of Alphabet in a research report on Friday, May 2nd. Raymond James Financial reissued an "outperform" rating and set a $210.00 target price (up from $185.00) on shares of Alphabet in a research report on Thursday, July 24th. JPMorgan Chase & Co. increased their target price on shares of Alphabet from $200.00 to $232.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Finally, Roth Capital restated a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and five have given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $215.19.
Get Our Latest Stock Report on GOOG
Insider Activity
In other news, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares in the company, valued at approximately $45,213,984. The trade was a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the completion of the sale, the chief executive officer directly owned 2,559,892 shares of the company's stock, valued at approximately $456,991,919.84. This represents a 1.25% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 273,219 shares of company stock worth $49,474,273. Insiders own 12.99% of the company's stock.
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.
Featured Stories
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