Lakeshore Capital Group Inc. increased its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 34.4% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 8,754 shares of the information services provider's stock after buying an additional 2,241 shares during the quarter. Alphabet comprises approximately 1.3% of Lakeshore Capital Group Inc.'s portfolio, making the stock its 23rd biggest position. Lakeshore Capital Group Inc.'s holdings in Alphabet were worth $1,354,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. JPMorgan Chase & Co. grew its position in shares of Alphabet by 7.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider's stock valued at $10,559,240,000 after acquiring an additional 4,567,275 shares during the period. Wealth Group Ltd. lifted its stake in shares of Alphabet by 5.2% during the 4th quarter. Wealth Group Ltd. now owns 1,582 shares of the information services provider's stock valued at $299,000 after buying an additional 78 shares in the last quarter. Capital & Planning LLC boosted its stake in shares of Alphabet by 34.3% in the fourth quarter. Capital & Planning LLC now owns 4,383 shares of the information services provider's stock worth $830,000 after acquiring an additional 1,119 shares during the period. Eagle Capital Management LLC grew its holdings in Alphabet by 0.7% during the 4th 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 in the last quarter. Finally, Brighton Jones LLC grew 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 valued at $20,886,000 after acquiring an additional 4,110 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts have issued reports on the company. KeyCorp lifted their price objective on Alphabet from $185.00 to $195.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. Wedbush set a $190.00 price objective on Alphabet and gave the company an "outperform" rating in a research report on Tuesday, April 15th. Roth Mkm reiterated a "buy" rating and set a $220.00 price objective on shares of Alphabet in a research report on Wednesday, March 19th. BMO Capital Markets restated an "outperform" rating and issued a $200.00 target price (down previously from $230.00) on shares of Alphabet in a report on Thursday, April 17th. Finally, Wells Fargo & Company upped their price target on shares of Alphabet from $167.00 to $175.00 and gave the company an "equal weight" rating in a report on Friday, April 25th. Ten equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet presently has an average rating of "Moderate Buy" and a consensus target price of $199.75.
Read Our Latest Stock Analysis on Alphabet
Alphabet Stock Up 0.1%
Alphabet stock traded up $0.16 during mid-day trading on Thursday, reaching $168.21. 34,550,448 shares of the company were exchanged, compared to its average volume of 30,080,149. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The firm has a market cap of $2.04 trillion, a P/E ratio of 20.90, a PEG ratio of 1.34 and a beta of 1.01. The business has a fifty day moving average of $159.54 and a 200 day moving average of $174.43. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results 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. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The firm had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. During the same period in the previous year, the company posted $1.89 EPS. Research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
Alphabet Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.50%. This is a positive change from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. Alphabet's dividend payout ratio is presently 9.36%.
Insider Buying and Selling at Alphabet
In other news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction 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 sale, the chief executive officer now owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. This represents a 1.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 200 shares of the business's stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total value of $33,106.00. Following the transaction, the director now owns 7,813 shares in the company, valued at approximately $1,293,285.89. This trade represents a 2.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 195,770 shares of company stock valued at $32,036,638. 11.64% of the stock is currently owned by insiders.
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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