Koss Olinger Consulting LLC purchased a new position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 5,240 shares of the information services provider's stock, valued at approximately $810,000.
Several other hedge funds have also made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Alphabet by 47.0% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 332,007 shares of the information services provider's stock worth $51,342,000 after purchasing an additional 106,202 shares during the last quarter. Riverpark Capital Management LLC lifted its holdings in shares of Alphabet by 1.8% in the 1st quarter. Riverpark Capital Management LLC now owns 8,572 shares of the information services provider's stock worth $1,326,000 after purchasing an additional 150 shares during the last quarter. Zions Bancorporation National Association UT bought a new stake in shares of Alphabet in the 1st quarter worth approximately $9,222,000. Morton Community Bank lifted its holdings in shares of Alphabet by 9.4% in the 1st quarter. Morton Community Bank now owns 18,675 shares of the information services provider's stock worth $2,888,000 after purchasing an additional 1,605 shares during the last quarter. Finally, Founders Financial Alliance LLC lifted its holdings in shares of Alphabet by 4.1% in the 1st quarter. Founders Financial Alliance LLC now owns 26,581 shares of the information services provider's stock worth $4,110,000 after purchasing an additional 1,043 shares during the last quarter. Institutional investors own 40.03% of the company's stock.
Insider Buying and Selling
In related news, insider John Kent Walker sold 23,820 shares of Alphabet stock in a transaction on Monday, August 4th. The stock was sold at an average price of $194.70, for a total value of $4,637,754.00. Following the transaction, the insider directly owned 42,999 shares in the company, valued at $8,371,905.30. The trade was a 35.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares in the company, valued at $45,213,984. The trade was a 7.09% 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 in the last three months. 11.64% of the stock is currently owned by insiders.
Analyst Ratings Changes
Several brokerages recently issued reports on GOOGL. Westpark Capital raised their price target on Alphabet from $210.00 to $220.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Barclays lifted their target price on Alphabet from $220.00 to $235.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. BMO Capital Markets lifted their target price on Alphabet from $208.00 to $225.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Cantor Fitzgerald lifted their target price on Alphabet from $196.00 to $201.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Finally, Wedbush lifted their target price on Alphabet from $200.00 to $225.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Four research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and ten have given a Hold rating to the company's stock. According to data from MarketBeat, Alphabet currently has a consensus rating of "Moderate Buy" and an average price target of $211.53.
Read Our Latest Research Report on GOOGL
Alphabet Price Performance
Shares of GOOGL traded down $2.5860 during midday trading on Tuesday, reaching $200.9140. The stock had a trading volume of 7,863,548 shares, compared to its average volume of 36,374,398. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The firm's 50 day moving average price is $184.80 and its 200-day moving average price is $173.00. The company has a market capitalization of $2.43 trillion, a P/E ratio of 21.38, a P/E/G ratio of 1.37 and a beta of 1.01.
Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts' consensus estimates of $2.15 by $0.16. The company had revenue of $96,428,000 billion for the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. On average, analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
Alphabet Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet's payout ratio is presently 8.95%.
Alphabet 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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