MassMutual Private Wealth & Trust FSB boosted its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 2.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 243,464 shares of the information services provider's stock after acquiring an additional 4,714 shares during the period. Alphabet comprises approximately 1.1% of MassMutual Private Wealth & Trust FSB's holdings, making the stock its 20th biggest holding. MassMutual Private Wealth & Trust FSB's holdings in Alphabet were worth $38,036,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in GOOG. ARQ Wealth Advisors LLC lifted its holdings in Alphabet by 39.3% in the 4th quarter. ARQ Wealth Advisors LLC now owns 4,964 shares of the information services provider's stock worth $945,000 after buying an additional 1,400 shares in the last quarter. GPS Wealth Strategies Group LLC grew its position in Alphabet by 6.8% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 16,248 shares of the information services provider's stock worth $3,094,000 after purchasing an additional 1,041 shares during the last quarter. Harvest Investment Services LLC lifted its stake in shares of Alphabet by 3.3% in the 4th quarter. Harvest Investment Services LLC now owns 4,329 shares of the information services provider's stock worth $824,000 after acquiring an additional 138 shares during the period. North Forty Two & Co. acquired a new stake in shares of Alphabet in the 4th quarter worth approximately $281,000. Finally, SageView Advisory Group LLC lifted its stake in Alphabet by 140.6% during the fourth quarter. SageView Advisory Group LLC now owns 14,734 shares of the information services provider's stock valued at $2,806,000 after purchasing an additional 8,610 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.
Insider Activity
In other news, insider John Kent Walker sold 11,764 shares of the stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $166.84, for a total value of $1,962,705.76. Following the sale, the insider now directly owns 49,037 shares of the company's stock, valued at approximately $8,181,333.08. This represents a 19.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the transaction, the chief executive officer now owns 2,717,696 shares in the company, valued at $430,917,877.76. The trade was a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 164,533 shares of company stock worth $26,772,774. Corporate insiders own 12.99% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on the stock. Rosenblatt Securities upgraded shares of Alphabet from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. Oppenheimer increased their price target on shares of Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a report on Friday, April 25th. Susquehanna reissued a "positive" rating on shares of Alphabet in a report on Friday, May 2nd. Scotiabank lowered their price objective on shares of Alphabet from $232.00 to $200.00 and set a "sector outperform" rating for the company in a research report on Monday, April 21st. Finally, Needham & Company LLC downgraded shares of Alphabet from a "buy" rating to a "cautious" rating in a research note on Friday, May 2nd. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and five have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $203.94.
Read Our Latest Report on Alphabet
Alphabet Stock Performance
NASDAQ GOOG traded down $2.09 on Friday, hitting $170.87. 36,230,934 shares of the stock were exchanged, compared to its average volume of 20,270,834. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The business's fifty day moving average is $160.92 and its 200 day moving average is $176.39. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $208.70. The company has a market capitalization of $2.07 trillion, a PE ratio of 21.23, a P/E/G ratio of 1.34 and a beta of 1.01.
Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings results 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 net margin of 28.60% and a return on equity of 32.49%. The firm had revenue of $90.23 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same period in the prior year, the firm posted $1.89 earnings per share. The company's quarterly revenue was up 12.0% compared to the same quarter last year. Research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.
Alphabet Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be issued a $0.21 dividend. This is a positive change from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend is Monday, June 9th. Alphabet's dividend payout ratio (DPR) is currently 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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