2,101 Shares in Alphabet Inc. (NASDAQ:GOOG) Purchased by M1 Capital Management LLC

M1 Capital Management LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,101 shares of the information services provider's stock, valued at approximately $400,000.

Several other hedge funds also recently modified their holdings of GOOG. Cassaday & Co Wealth Management LLC boosted its position in shares of Alphabet by 9.3% in the fourth quarter. Cassaday & Co Wealth Management LLC now owns 28,044 shares of the information services provider's stock valued at $5,341,000 after acquiring an additional 2,390 shares during the period. LaFleur & Godfrey LLC boosted its position in shares of Alphabet by 1.2% in the fourth quarter. LaFleur & Godfrey LLC now owns 31,967 shares of the information services provider's stock valued at $6,088,000 after acquiring an additional 380 shares during the period. Brighton Jones LLC boosted its position in shares of Alphabet by 5.6% in the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider's stock valued at $22,901,000 after acquiring an additional 6,410 shares during the period. Exchange Traded Concepts LLC lifted its position in Alphabet by 1.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 6,609 shares of the information services provider's stock worth $1,259,000 after purchasing an additional 98 shares during the period. Finally, AM Investment Strategies LLC lifted its position in Alphabet by 0.3% in the fourth quarter. AM Investment Strategies LLC now owns 84,299 shares of the information services provider's stock worth $16,054,000 after purchasing an additional 218 shares during the period. 27.26% of the stock is owned by institutional investors.

Alphabet Price Performance

Alphabet stock traded down $0.42 during mid-day trading on Thursday, hitting $172.96. 21,171,732 shares of the company were exchanged, compared to its average volume of 20,201,080. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The business has a fifty day moving average of $160.86 and a 200 day moving average of $176.45. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70. The company has a market capitalization of $2.10 trillion, a PE ratio of 21.49, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (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 $90.23 billion during the quarter, compared to analyst estimates of $89.30 billion. During the same period in the prior year, the company posted $1.89 earnings per share. The business's revenue for the quarter was up 12.0% compared to the same quarter last year. As a group, sell-side analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, June 9th. This is a positive change from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.49%. Alphabet's dividend payout ratio (DPR) is 9.36%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Westpark Capital reaffirmed a "buy" rating and issued a $210.00 target price on shares of Alphabet in a research report on Friday, April 25th. Citigroup reaffirmed a "sell" rating on shares of Alphabet in a research report on Wednesday, April 23rd. Needham & Company LLC cut Alphabet from a "buy" rating to a "cautious" rating in a research report on Friday, May 2nd. Wedbush reaffirmed an "outperform" rating and issued a $220.00 target price on shares of Alphabet in a research report on Thursday, January 30th. Finally, JPMorgan Chase & Co. raised their target price on Alphabet from $180.00 to $195.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Three analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $203.94.

Insider Activity

In other news, CAO Amie Thuener O'toole sold 1,374 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $173.47, for a total value of $238,347.78. Following the completion of the sale, the chief accounting officer now directly owns 15,024 shares in the company, valued at approximately $2,606,213.28. This trade represents a 8.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the sale, the chief executive officer now owns 2,717,696 shares of the company's stock, valued at approximately $430,917,877.76. This trade represents a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 164,654 shares of company stock worth $26,793,380. 12.99% of the stock is owned by corporate insiders.

Alphabet Profile

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.