Kennedy Investment Group lifted its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 32.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,049 shares of the information services provider's stock after purchasing an additional 2,223 shares during the quarter. Kennedy Investment Group's holdings in Alphabet were worth $1,399,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in GOOGL. Wealth Group Ltd. lifted its stake in shares of Alphabet by 5.2% in 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 last quarter. Capital & Planning LLC lifted its position in Alphabet by 34.3% in the fourth quarter. Capital & Planning LLC now owns 4,383 shares of the information services provider's stock valued at $830,000 after buying an additional 1,119 shares during the last quarter. Eagle Capital Management LLC lifted its position in Alphabet by 0.7% in 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 during 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 worth $20,886,000 after buying an additional 4,110 shares during the period. Finally, Union Bancaire Privee UBP SA acquired a new stake in shares of Alphabet during the fourth quarter valued at about $154,716,000. Hedge funds and other institutional investors own 40.03% of the company's stock.
Alphabet Stock Performance
GOOGL traded up $2.86 on Thursday, reaching $173.54. The company had a trading volume of 31,662,209 shares, compared to its average volume of 30,836,780. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05. The stock has a market capitalization of $2.11 trillion, a PE ratio of 19.35, a P/E/G ratio of 1.06 and a beta of 1.01. The stock has a 50-day moving average price of $165.45 and a 200-day moving average price of $174.58.
Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The firm had revenue of $76.49 billion during the quarter, compared to analysts' expectations of $89.30 billion. During the same quarter in the prior year, the business earned $1.89 EPS. As a group, research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.
Alphabet Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.48%. This is a positive change from Alphabet's previous quarterly dividend of $0.20. Alphabet's payout ratio is presently 9.36%.
Insider Transactions at Alphabet
In other news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the completion of the transaction, the chief executive officer now directly owns 2,717,696 shares of the company's stock, valued at approximately $430,917,877.76. This represents a 1.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O'toole sold 673 shares of the company's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total value of $104,537.09. Following the transaction, the chief accounting officer now directly owns 15,303 shares in the company, valued at $2,377,014.99. This represents a 4.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold 216,306 shares of company stock worth $35,782,927 over the last 90 days. 11.64% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
GOOGL has been the topic of several recent analyst reports. Citigroup restated a "buy" rating and issued a $203.00 price objective (up from $200.00) on shares of Alphabet in a report on Tuesday. Piper Sandler boosted their price objective on Alphabet from $185.00 to $195.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Sanford C. Bernstein raised their target price on Alphabet from $165.00 to $185.00 and gave the company a "market perform" rating in a report on Friday, April 25th. Susquehanna dropped their target price on Alphabet from $225.00 to $220.00 and set a "positive" rating for the company in a research report on Friday, April 25th. Finally, Morgan Stanley reduced their price target on shares of Alphabet from $210.00 to $185.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Ten investment 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 presently has an average rating of "Moderate Buy" and an average price target of $200.17.
View Our Latest Report on Alphabet
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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