Kera Capital Partners Inc. boosted its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 78.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 29,755 shares of the information services provider's stock after purchasing an additional 13,088 shares during the quarter. Alphabet comprises 1.4% of Kera Capital Partners Inc.'s holdings, making the stock its 26th biggest position. Kera Capital Partners Inc.'s holdings in Alphabet were worth $4,649,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Global Wealth Strategies & Associates raised its holdings in Alphabet by 22.0% during the 1st quarter. Global Wealth Strategies & Associates now owns 1,711 shares of the information services provider's stock worth $267,000 after purchasing an additional 309 shares during the last quarter. Centre Asset Management LLC acquired a new position in Alphabet during the first quarter valued at approximately $13,531,000. Modus Advisors LLC increased its stake in Alphabet by 0.4% in the first quarter. Modus Advisors LLC now owns 39,673 shares of the information services provider's stock valued at $6,198,000 after purchasing an additional 162 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in Alphabet by 2.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 243,464 shares of the information services provider's stock valued at $38,036,000 after purchasing an additional 4,714 shares in the last quarter. Finally, Milestone Asset Management Group LLC bought a new stake in Alphabet in the fourth quarter valued at approximately $812,000. 27.26% of the stock is owned by institutional investors.
Alphabet Stock Performance
NASDAQ:GOOG traded down $2.09 during mid-day trading on Friday, reaching $170.87. 36,230,934 shares of the company's stock were exchanged, compared to its average volume of 20,239,371. Alphabet Inc. has a one year low of $142.66 and a one year high of $208.70. The firm has a market capitalization of $2.07 trillion, a PE ratio of 21.23, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The business's fifty day simple moving average is $160.88 and its two-hundred day simple moving average is $176.27. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84.
Alphabet (NASDAQ:GOOG - Get Free Report) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The firm had revenue of $90.23 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same period last year, the firm earned $1.89 EPS. The business's quarterly revenue was up 12.0% compared to the same quarter last year. Analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.
Alphabet Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be 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 0.49%. The ex-dividend date of this dividend is Monday, June 9th. Alphabet's dividend payout ratio (DPR) is currently 9.36%.
Insider Activity at Alphabet
In related news, insider John Kent Walker sold 11,764 shares of Alphabet stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the sale, the insider now directly owns 49,037 shares of the company's stock, valued at approximately $8,181,333.08. The trade was a 19.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O'toole sold 1,374 shares of Alphabet stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $173.47, for a total transaction of $238,347.78. Following the sale, the chief accounting officer now directly owns 15,024 shares in the company, valued at $2,606,213.28. This trade represents a 8.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 164,533 shares of company stock valued at $26,772,774. 12.99% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
Several brokerages have commented on GOOG. Susquehanna reaffirmed a "positive" rating on shares of Alphabet in a research note on Friday, May 2nd. Tigress Financial reaffirmed a "strong-buy" rating on shares of Alphabet in a research note on Friday, May 2nd. Needham & Company LLC downgraded shares of Alphabet from a "buy" rating to a "cautious" rating in a research note on Friday, May 2nd. Benchmark reaffirmed a "negative" rating on shares of Alphabet in a research note on Wednesday, February 5th. Finally, Rosenblatt Securities raised shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have given a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat, Alphabet has an average rating of "Moderate Buy" and an average price target of $203.94.
Check Out Our Latest Stock Analysis on Alphabet
Alphabet Company Profile
(
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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