Lauer Wealth LLC reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 56.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,674 shares of the information services provider's stock after selling 3,400 shares during the quarter. Lauer Wealth LLC's holdings in Alphabet were worth $433,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the business. FMR LLC boosted its holdings in Alphabet by 2.8% during the fourth quarter. FMR LLC now owns 117,991,725 shares of the information services provider's stock worth $22,470,344,000 after purchasing an additional 3,189,592 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Alphabet by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 104,777,092 shares of the information services provider's stock worth $19,894,651,000 after purchasing an additional 1,219,606 shares during the last quarter. Capital International Investors boosted its holdings in Alphabet by 6.7% during the fourth quarter. Capital International Investors now owns 91,236,069 shares of the information services provider's stock worth $17,376,706,000 after purchasing an additional 5,758,244 shares during the last quarter. Northern Trust Corp boosted its holdings in Alphabet by 16.1% during the fourth quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock worth $10,873,751,000 after purchasing an additional 7,917,625 shares during the last quarter. Finally, Capital Research Global Investors boosted its holdings in Alphabet by 0.8% during the fourth quarter. Capital Research Global Investors now owns 39,148,500 shares of the information services provider's stock worth $7,455,571,000 after purchasing an additional 294,556 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.
Alphabet Trading Up 1.5%
Shares of GOOG opened at $181.31 on Monday. The stock has a market capitalization of $2.20 trillion, a P/E ratio of 20.21, a PEG ratio of 1.27 and a beta of 1.01. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. The firm has a fifty day simple moving average of $171.50 and a two-hundred day simple moving average of $174.76. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70.
Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.79. The business had revenue of $90.23 billion during the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The firm's revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.89 EPS. On average, research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.
Alphabet Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were issued a $0.21 dividend. The ex-dividend date was Monday, June 9th. 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 0.46%. Alphabet's dividend payout ratio is 9.36%.
Wall Street Analyst Weigh In
GOOG has been the topic of a number of research analyst reports. Lake Street Capital reiterated a "buy" rating on shares of Alphabet in a research note on Wednesday. Tigress Financial reiterated a "strong-buy" rating on shares of Alphabet in a research note on Friday, May 2nd. UBS Group reiterated a "buy" rating on shares of Alphabet in a research note on Wednesday. Scotiabank dropped their target price on shares of Alphabet from $232.00 to $200.00 and set a "sector outperform" rating on the stock in a research note on Monday, April 21st. Finally, Citigroup reiterated a "sell" rating on shares of Alphabet in a research note on Wednesday, April 23rd. Three research analysts have rated the stock with a sell rating, five have given a hold rating, eighteen have issued a buy rating and six have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $207.13.
View Our Latest Stock Report on Alphabet
Insiders Place Their Bets
In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total value of $5,801,900.00. Following the completion of the transaction, the chief executive officer directly owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. This represents a 1.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the company's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the completion of the transaction, the director owned 261,966 shares of the company's stock, valued at $45,844,050. This trade represents a 3.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 215,443 shares of company stock worth $36,298,548. 12.99% of the stock is currently owned by corporate 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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Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOG - Free Report).
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