Keystone Global Partners LLC acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 3,640 shares of the information services provider's stock, valued at approximately $569,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Principia Wealth Advisory LLC increased its position in Alphabet by 111.8% during the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after purchasing an additional 85 shares in the last quarter. MorganRosel Wealth Management LLC acquired a new stake in Alphabet during the 1st quarter worth approximately $26,000. Goodman Advisory Group LLC acquired a new stake in Alphabet during the 1st quarter worth approximately $32,000. Greykasell Wealth Strategies Inc. acquired a new stake in Alphabet during the 1st quarter worth approximately $32,000. Finally, Graybill Wealth Management LTD. acquired a new stake in Alphabet during the 1st quarter worth approximately $44,000. Institutional investors and hedge funds own 27.26% of the company's stock.
Insider Buying and Selling
In related news, Director Kavitark Ram Shriram sold 18,566 shares of the firm's stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the transaction, the director directly owned 243,400 shares in the company, valued at $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following the transaction, the chief executive officer owned 2,559,892 shares in the company, valued at $456,991,919.84. This trade represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 274,819 shares of company stock worth $49,796,547 over the last ninety days. 12.99% of the stock is owned by insiders.
Alphabet Stock Performance
Shares of GOOG opened at $204.91 on Friday. The business's fifty day moving average price is $185.21 and its 200 day moving average price is $174.72. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70. The stock has a market capitalization of $2.48 trillion, a PE ratio of 21.82, a price-to-earnings-growth ratio of 1.36 and a beta of 1.02. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.
Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The firm had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.67 billion. During the same period last year, the business posted $1.89 earnings per share. The firm's revenue for the quarter was up 13.8% on a year-over-year basis. Equities research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.
Alphabet Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be paid a dividend of $0.21 per share. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.4%. Alphabet's dividend payout ratio (DPR) is 8.95%.
Wall Street Analyst Weigh In
A number of research firms recently issued reports on GOOG. Piper Sandler reissued a "neutral" rating on shares of Alphabet in a research report on Wednesday, July 9th. Cowen reissued a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Lake Street Capital reissued a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Wells Fargo & Company reaffirmed an "equal weight" rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $235.00 price objective (up previously from $220.00) on shares of Alphabet in a research report on Thursday, July 24th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $215.19.
Check Out Our Latest 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.
See Also
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