Hudock Inc. lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 92.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,887 shares of the information services provider's stock after buying an additional 3,785 shares during the quarter. Hudock Inc.'s holdings in Alphabet were worth $1,232,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also made changes to their positions in GOOG. Brighton Jones LLC lifted its stake in Alphabet by 5.6% in the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider's stock valued at $22,901,000 after buying an additional 6,410 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its stake in Alphabet by 4.3% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 506,535 shares of the information services provider's stock valued at $96,465,000 after buying an additional 20,855 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Alphabet in the fourth quarter valued at $1,551,533,000. Creative Financial Designs Inc. ADV lifted its stake in Alphabet by 5.1% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 8,448 shares of the information services provider's stock valued at $1,609,000 after buying an additional 410 shares during the last quarter. Finally, Axxcess Wealth Management LLC lifted its stake in Alphabet by 1.0% in the fourth quarter. Axxcess Wealth Management LLC now owns 120,789 shares of the information services provider's stock valued at $22,274,000 after buying an additional 1,157 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.
Alphabet Stock Up 0.8%
NASDAQ GOOG traded up $1.48 during trading on Friday, reaching $186.18. 12,704,251 shares of the company's stock were exchanged, compared to its average volume of 21,512,498. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70. The firm has a market capitalization of $2.26 trillion, a PE ratio of 20.74, a P/E/G ratio of 1.28 and a beta of 1.01. 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 company's fifty day simple moving average is $173.39 and its 200-day simple moving average is $174.75.
Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly 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. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The business had revenue of $90.23 billion during the quarter, compared to analyst estimates of $89.30 billion. During the same period in the previous year, the company earned $1.89 EPS. The firm's revenue was up 12.0% on a year-over-year basis. Sell-side analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.
Alphabet Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were issued a $0.21 dividend. This is a positive change from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.45%. The ex-dividend date was Monday, June 9th. Alphabet's payout ratio is 9.36%.
Analysts Set New Price Targets
A number of research analysts have recently commented on the company. Tigress Financial reissued a "strong-buy" rating on shares of Alphabet in a report on Friday, May 2nd. JPMorgan Chase & Co. raised their price target on Alphabet from $195.00 to $200.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Lake Street Capital reissued a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Citigroup reaffirmed a "sell" rating on shares of Alphabet in a report on Wednesday, April 23rd. Finally, Rosenblatt Securities raised Alphabet from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat.com, Alphabet currently has a consensus rating of "Moderate Buy" and a consensus target price of $208.40.
View Our Latest Stock Report on Alphabet
Insider Buying and Selling
In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total value of $5,992,350.00. Following the transaction, the chief executive officer directly owned 2,527,392 shares of the company's stock, valued at $466,000,536.96. The trade was a 1.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 9,000 shares of Alphabet stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $1,575,000.00. Following the completion of the transaction, the director directly owned 255,400 shares in the company, valued at approximately $44,695,000. This represents a 3.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 215,843 shares of company stock worth $37,288,490. 12.99% of the stock is currently 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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