JT Stratford LLC boosted its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 4.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 61,244 shares of the information services provider's stock after purchasing an additional 2,697 shares during the period. Alphabet makes up approximately 1.9% of JT Stratford LLC's investment portfolio, making the stock its 11th biggest holding. JT Stratford LLC's holdings in Alphabet were worth $11,593,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Legacy Financial Group Inc. lifted its holdings in Alphabet by 6.6% during the 4th quarter. Legacy Financial Group Inc. now owns 5,609 shares of the information services provider's stock valued at $1,062,000 after buying an additional 349 shares in the last quarter. Mosaic Family Wealth Partners LLC increased its position in shares of Alphabet by 16.6% during the fourth quarter. Mosaic Family Wealth Partners LLC now owns 5,154 shares of the information services provider's stock worth $976,000 after acquiring an additional 734 shares during the period. RB Capital Management LLC raised its stake in shares of Alphabet by 1.3% during the fourth quarter. RB Capital Management LLC now owns 32,964 shares of the information services provider's stock valued at $6,240,000 after acquiring an additional 425 shares in the last quarter. Patrick Mauro Investment Advisor INC. raised its stake in shares of Alphabet by 9.7% during the fourth quarter. Patrick Mauro Investment Advisor INC. now owns 29,553 shares of the information services provider's stock valued at $5,594,000 after acquiring an additional 2,601 shares in the last quarter. Finally, DCM Advisors LLC boosted its holdings in shares of Alphabet by 47.5% in the fourth quarter. DCM Advisors LLC now owns 48,756 shares of the information services provider's stock valued at $9,119,000 after purchasing an additional 15,699 shares during the period. 40.03% of the stock is owned by institutional investors.
Alphabet Price Performance
Shares of GOOGL stock traded down $2.40 during trading hours on Friday, hitting $168.47. 35,166,008 shares of the company's stock were exchanged, compared to its average volume of 29,695,079. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. The firm has a market cap of $2.04 trillion, a P/E ratio of 20.93, a P/E/G ratio of 1.34 and a beta of 1.01. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm has a 50 day moving average of $158.57 and a two-hundred day moving average of $174.88.
Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.02 by $0.79. The company had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. During the same period in the previous year, the business earned $1.89 EPS. Sell-side analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.
Alphabet Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.50%. The ex-dividend date is Monday, June 9th. This is a boost from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio (DPR) is currently 9.36%.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on GOOGL. Bank of America lifted their target price on Alphabet from $185.00 to $200.00 and gave the company a "buy" rating in a research report on Friday, April 25th. Roth Mkm reissued a "buy" rating and set a $220.00 price objective on shares of Alphabet in a report on Wednesday, March 19th. BMO Capital Markets reissued an "outperform" rating and issued a $200.00 price target (down from $230.00) on shares of Alphabet in a research report on Thursday, April 17th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $200.00 price objective on shares of Alphabet in a research report on Wednesday, April 23rd. Finally, Cantor Fitzgerald decreased their price target on shares of Alphabet from $200.00 to $159.00 and set a "neutral" rating for the company in a research report on Wednesday, April 16th. 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. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $199.75.
Get Our Latest Analysis on GOOGL
Insider Buying and Selling
In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the business's 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 $1,837,500.00. Following the sale, the director now owns 261,966 shares of the company's stock, valued at $45,844,050. The trade was a 3.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O'toole sold 1,374 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $173.47, for a total value of $238,347.78. Following the transaction, the chief accounting officer now directly owns 15,024 shares in the company, valued at approximately $2,606,213.28. The trade was a 8.38% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 164,654 shares of company stock worth $26,793,380. 11.64% of the stock is owned by corporate insiders.
About Alphabet
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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.
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