LVM Capital Management Ltd. MI raised its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 143,385 shares of the information services provider's stock after buying an additional 5,407 shares during the period. Alphabet accounts for about 2.5% of LVM Capital Management Ltd. MI's investment portfolio, making the stock its 13th biggest position. LVM Capital Management Ltd. MI's holdings in Alphabet were worth $22,173,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank acquired a new position in Alphabet in the fourth quarter worth $24,383,677,000. FMR LLC lifted its position in Alphabet by 9.8% during the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock worth $47,025,322,000 after buying an additional 22,100,902 shares in the last quarter. GAMMA Investing LLC lifted its position in Alphabet by 16,993.2% during the 1st quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider's stock worth $2,483,898,000 after buying an additional 15,968,487 shares in the last quarter. Northern Trust Corp lifted its position in Alphabet by 17.0% during the 4th quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock worth $13,178,470,000 after buying an additional 10,135,430 shares in the last quarter. Finally, Capital Research Global Investors lifted its position in shares of Alphabet by 16.2% during the fourth quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock worth $13,635,878,000 after purchasing an additional 10,037,685 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other news, Director John L. Hennessy sold 600 shares of the business's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $105,000.00. Following the sale, the director now owns 6,813 shares of the company's stock, valued at $1,192,275. The trade was a 8.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O'toole sold 1,374 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $173.47, for a total transaction of $238,347.78. Following the sale, the chief accounting officer now directly owns 15,024 shares in the company, valued at $2,606,213.28. This trade represents a 8.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 164,533 shares of company stock worth $26,772,774 over the last three months. Corporate insiders own 11.55% of the company's stock.
Analyst Ratings Changes
A number of equities analysts have recently issued reports on GOOGL shares. JMP Securities reiterated a "market perform" rating on shares of Alphabet in a research report on Wednesday, May 21st. Jefferies Financial Group reduced their price objective on Alphabet from $235.00 to $200.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Rosenblatt Securities reaffirmed a "neutral" rating and set a $189.00 price objective on shares of Alphabet in a report on Wednesday, May 21st. Roth Mkm reaffirmed a "buy" rating and set a $220.00 price objective on shares of Alphabet in a report on Wednesday, March 19th. Finally, KeyCorp raised their price target on Alphabet from $185.00 to $195.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Ten research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, Alphabet has an average rating of "Moderate Buy" and an average target price of $199.75.
Check Out Our Latest Stock Report on GOOGL
Alphabet Stock Down 1.2%
Shares of NASDAQ:GOOGL traded down $2.13 during trading on Friday, hitting $169.73. 52,598,920 shares of the company's stock traded hands, compared to its average volume of 29,949,599. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05. The company has a 50-day moving average price of $159.10 and a 200-day moving average price of $174.59. The company has a market cap of $2.06 trillion, a price-to-earnings ratio of 21.08, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01.
Alphabet (NASDAQ:GOOGL - 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 analysts' consensus estimates of $2.02 by $0.79. The firm had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. During the same quarter in the previous year, the firm posted $1.89 earnings per share. As a group, research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.
Alphabet Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.49%. 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 payout ratio is 9.36%.
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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