Marietta Investment Partners LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.3% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 72,720 shares of the information services provider's stock after selling 1,713 shares during the quarter. Alphabet makes up approximately 2.7% of Marietta Investment Partners LLC's investment portfolio, making the stock its 7th largest position. Marietta Investment Partners LLC's holdings in Alphabet were worth $11,245,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in GOOGL. Perritt Capital Management Inc lifted its holdings in Alphabet by 10.4% during the 4th quarter. Perritt Capital Management Inc now owns 618 shares of the information services provider's stock worth $117,000 after buying an additional 58 shares in the last quarter. Nia Impact Advisors LLC boosted its stake in shares of Alphabet by 0.3% during the fourth quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider's stock worth $3,249,000 after buying an additional 59 shares during the period. Hanlon Investment Management Inc. grew its stake in shares of Alphabet by 1.7% in the 4th quarter. Hanlon Investment Management Inc. now owns 3,553 shares of the information services provider's stock valued at $673,000 after purchasing an additional 60 shares during the last quarter. Enzi Wealth increased its stake in shares of Alphabet by 2.5% during the first quarter. Enzi Wealth now owns 2,561 shares of the information services provider's stock worth $408,000 after acquiring an additional 62 shares during the period. Finally, Whipplewood Advisors LLC boosted its stake in shares of Alphabet by 1.2% in the first quarter. Whipplewood Advisors LLC now owns 5,438 shares of the information services provider's stock valued at $817,000 after buying an additional 67 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.
Analyst Ratings Changes
GOOGL has been the subject of several research reports. JMP Securities lifted their price objective on Alphabet from $220.00 to $225.00 and gave the stock a "market outperform" rating in a report on Thursday, July 24th. KeyCorp upped their price objective on shares of Alphabet from $215.00 to $230.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. Stifel Nicolaus boosted their target price on Alphabet from $200.00 to $218.00 and gave the stock a "buy" rating in a report on Tuesday, July 22nd. Westpark Capital upped their target price on Alphabet from $210.00 to $220.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Finally, UBS Group boosted their price objective on shares of Alphabet from $192.00 to $202.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Ten research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Alphabet currently has a consensus rating of "Moderate Buy" and an average price target of $211.39.
View Our Latest Report on GOOGL
Alphabet Price Performance
Shares of NASDAQ:GOOGL traded up $5.91 on Monday, reaching $195.04. 31,493,654 shares of the company traded hands, compared to its average volume of 37,132,445. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The stock has a market capitalization of $2.36 trillion, a PE ratio of 20.77, a P/E/G ratio of 1.28 and a beta of 1.01. The company's 50 day moving average is $178.32 and its 200-day moving average is $172.82. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, topping the consensus estimate of $2.15 by $0.16. The business had revenue of $96,428,000 billion for the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. As a group, analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
Alphabet Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet's payout ratio is currently 8.95%.
Insider Buying and Selling at Alphabet
In other Alphabet news, Director Kavitark Ram Shriram sold 18,566 shares of the firm's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the transaction, the director directly owned 243,400 shares in the company, valued at $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following the sale, the chief executive officer owned 2,559,892 shares of the company's stock, valued at approximately $456,991,919.84. This trade represents a 1.25% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 249,399 shares of company stock worth $43,525,794. 11.55% of the stock is currently owned by corporate insiders.
Alphabet Profile
(
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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