Main Street Research LLC lifted its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 287,165 shares of the information services provider's stock after buying an additional 6,127 shares during the period. Alphabet makes up approximately 2.9% of Main Street Research LLC's holdings, making the stock its 15th largest holding. Main Street Research LLC's holdings in Alphabet were worth $44,407,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the stock. Norges Bank purchased a new position in shares of Alphabet during the 4th quarter worth approximately $24,383,677,000. FMR LLC boosted its position in shares of Alphabet by 9.8% in the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock worth $47,025,322,000 after purchasing an additional 22,100,902 shares in the last quarter. GAMMA Investing LLC lifted its position in Alphabet by 16,993.2% in the 1st quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider's stock valued at $2,483,898,000 after acquiring an additional 15,968,487 shares in the last quarter. Northern Trust Corp lifted its position in Alphabet by 17.0% in the 4th quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock valued at $13,178,470,000 after acquiring an additional 10,135,430 shares in the last quarter. Finally, Capital Research Global Investors lifted its position in Alphabet by 16.2% in the 4th quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock valued at $13,635,878,000 after acquiring an additional 10,037,685 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.
Alphabet Stock Performance
Shares of NASDAQ:GOOGL traded up $0.61 during midday trading on Thursday, hitting $183.58. The stock had a trading volume of 31,918,761 shares, compared to its average volume of 32,090,183. The company has a market capitalization of $2.23 trillion, a PE ratio of 20.47, a P/E/G ratio of 1.28 and a beta of 1.00. The stock has a 50 day moving average price of $171.67 and a two-hundred day moving average price of $173.20. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. The firm had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. During the same quarter in the previous year, the firm earned $1.89 earnings per share. As a group, equities analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
Alphabet Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.46%. This is an increase from Alphabet's previous quarterly dividend of $0.20. Alphabet's payout ratio is currently 9.36%.
Analyst Ratings Changes
GOOGL has been the subject of several analyst reports. UBS Group upped their price objective on Alphabet from $186.00 to $192.00 and gave the stock a "neutral" rating in a research note on Wednesday. JMP Securities upgraded Alphabet from a "market perform" rating to a "market outperform" rating and set a $220.00 price objective for the company in a research report on Friday, June 27th. Susquehanna cut their price objective on Alphabet from $225.00 to $220.00 and set a "positive" rating for the company in a research report on Friday, April 25th. Citigroup restated a "buy" rating and set a $203.00 price objective (up previously from $200.00) on shares of Alphabet in a research report on Tuesday, June 24th. Finally, Wells Fargo & Company raised their price objective on Alphabet from $175.00 to $177.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 8th. Ten research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $201.41.
Read Our Latest Research Report on GOOGL
Insider Buying and Selling
In related news, Director Kavitark Ram Shriram sold 9,000 shares of the business's stock in a transaction dated Thursday, May 22nd. The shares were 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. The trade was a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total transaction of $5,992,350.00. Following the sale, the chief executive officer directly owned 2,527,392 shares in the company, valued at approximately $466,000,536.96. This represents a 1.27% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 215,843 shares of company stock valued at $37,288,490. Corporate insiders own 11.64% of the company's stock.
Alphabet Profile
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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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