Libra Wealth LLC Has $958,000 Stake in Alphabet Inc. (NASDAQ:GOOG)

Libra Wealth LLC increased its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 54.3% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,131 shares of the information services provider's stock after purchasing an additional 2,157 shares during the period. Alphabet accounts for about 0.4% of Libra Wealth LLC's investment portfolio, making the stock its 25th biggest holding. Libra Wealth LLC's holdings in Alphabet were worth $958,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. FMR LLC boosted its holdings in shares of Alphabet by 2.8% in the 4th quarter. FMR LLC now owns 117,991,725 shares of the information services provider's stock valued at $22,470,344,000 after buying an additional 3,189,592 shares during the period. Geode Capital Management LLC raised its stake 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 acquiring an additional 1,219,606 shares during the period. Capital International Investors lifted its holdings in Alphabet by 6.7% in 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 acquiring an additional 5,758,244 shares during the last quarter. Northern Trust Corp boosted its stake in Alphabet by 16.1% in the fourth quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock valued at $10,873,751,000 after acquiring an additional 7,917,625 shares during the period. Finally, Capital Research Global Investors boosted its stake in Alphabet by 0.8% in the fourth quarter. Capital Research Global Investors now owns 39,148,500 shares of the information services provider's stock valued at $7,455,571,000 after acquiring an additional 294,556 shares during the period. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GOOG has been the topic of a number of research reports. Cantor Fitzgerald reiterated a "neutral" rating and set a $171.00 price target on shares of Alphabet in a research report on Friday, April 25th. UBS Group lowered their price target on shares of Alphabet from $209.00 to $173.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Citigroup reiterated a "sell" rating on shares of Alphabet in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. raised their price target on shares of Alphabet from $180.00 to $195.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Finally, Needham & Company LLC lowered Alphabet from a "buy" rating to a "cautious" rating in a report on Friday, May 2nd. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and six have assigned a strong buy rating to the stock. Based on data from MarketBeat, Alphabet presently has an average rating of "Moderate Buy" and an average price target of $206.38.

Alphabet Trading Up 0.3%

Shares of NASDAQ GOOG traded up $0.46 during mid-day trading on Thursday, hitting $180.22. 13,287,389 shares of the company traded hands, compared to its average volume of 21,182,530. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70. The business has a 50 day moving average of $169.27 and a two-hundred day moving average of $175.84. The stock has a market capitalization of $2.19 trillion, a price-to-earnings ratio of 20.09, 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.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly 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 30.86% and a return on equity of 34.54%. The business had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter in the prior year, the firm earned $1.89 EPS. The firm's quarterly revenue was up 12.0% on a year-over-year basis. On average, sell-side analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.47%. This is a positive change from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio is presently 9.36%.

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 600 shares of the company's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $105,000.00. Following the transaction, the director owned 6,813 shares in the company, valued at $1,192,275. This represents a 8.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kavitark Ram Shriram sold 9,000 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,575,000.00. Following the sale, the director owned 255,400 shares of the company's stock, valued at approximately $44,695,000. This represents a 3.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 215,643 shares of company stock valued at $36,330,928 over the last quarter. Company insiders own 12.99% of the company's stock.

About Alphabet

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.