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

M1 Capital Management LLC acquired a new position in Alphabet Inc. (NASDAQ:GOOG - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm acquired 2,101 shares of the information services provider's stock, valued at approximately $400,000.

Several other hedge funds and other institutional investors have also modified their holdings of GOOG. Cassaday & Co Wealth Management LLC grew its holdings in Alphabet by 9.3% during the 4th quarter. Cassaday & Co Wealth Management LLC now owns 28,044 shares of the information services provider's stock worth $5,341,000 after acquiring an additional 2,390 shares in the last quarter. LaFleur & Godfrey LLC lifted its position in shares of Alphabet by 1.2% during the fourth quarter. LaFleur & Godfrey LLC now owns 31,967 shares of the information services provider's stock worth $6,088,000 after purchasing an additional 380 shares during the last quarter. Brighton Jones LLC grew its stake in Alphabet by 5.6% in the fourth quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider's stock worth $22,901,000 after purchasing an additional 6,410 shares in the last quarter. Exchange Traded Concepts LLC grew its stake 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 in the last quarter. Finally, AM Investment Strategies LLC increased its holdings 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 valued at $16,054,000 after buying an additional 218 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Westpark Capital reiterated a "buy" rating and issued a $210.00 target price on shares of Alphabet in a research report on Friday, April 25th. Needham & Company LLC cut Alphabet from a "buy" rating to a "cautious" rating in a research note on Friday, May 2nd. Oppenheimer lifted their price objective on shares of Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a report on Friday, April 25th. Rosenblatt Securities raised shares of Alphabet from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. Finally, Benchmark restated a "negative" rating on shares of Alphabet in a research report on Wednesday, February 5th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have given a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat, Alphabet currently has an average rating of "Moderate Buy" and a consensus price target of $203.94.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O'toole sold 1,374 shares of the business'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 $2,606,213.28. The trade was a 8.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the company'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 transaction, the chief executive officer now directly owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. This represents a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 164,533 shares of company stock worth $26,772,774 over the last 90 days. Company insiders own 12.99% of the company's stock.

Alphabet Stock Down 1.2%

Shares of NASDAQ:GOOG traded down $2.09 during trading on Friday, hitting $170.87. 36,230,934 shares of the company were exchanged, compared to its average volume of 20,270,754. The stock has a market cap of $2.07 trillion, a price-to-earnings ratio of 21.23, a P/E/G ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70. The firm has a fifty day moving average price of $160.88 and a two-hundred day moving average price of $176.30. 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 (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. The company had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The company's quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.89 EPS. As a group, research analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm 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 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date is Monday, June 9th. This is an increase from Alphabet's previous quarterly dividend of $0.20. Alphabet's payout ratio is 9.36%.

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.