MassMutual Private Wealth & Trust FSB grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 0.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 365,438 shares of the information services provider's stock after buying an additional 1,801 shares during the quarter. Alphabet accounts for about 1.6% of MassMutual Private Wealth & Trust FSB's investment portfolio, making the stock its 10th largest holding. MassMutual Private Wealth & Trust FSB's holdings in Alphabet were worth $56,511,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Bennett Selby Investments LP lifted its stake in Alphabet by 4.0% in the fourth quarter. Bennett Selby Investments LP now owns 1,354 shares of the information services provider's stock valued at $256,000 after acquiring an additional 52 shares during the last quarter. Macroview Investment Management LLC boosted its stake in shares of Alphabet by 4.2% in the 4th quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider's stock valued at $245,000 after purchasing an additional 52 shares during the last quarter. Cornerstone Planning Group LLC boosted its stake in Alphabet by 2.3% during the fourth quarter. Cornerstone Planning Group LLC now owns 2,381 shares of the information services provider's stock worth $457,000 after acquiring an additional 53 shares in the last quarter. Addison Advisors LLC raised its holdings in Alphabet by 0.7% during the fourth quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider's stock worth $1,425,000 after buying an additional 53 shares during the last quarter. Finally, Burt Wealth Advisors raised its holdings in shares of Alphabet by 1.0% in the fourth quarter. Burt Wealth Advisors now owns 5,307 shares of the information services provider's stock valued at $1,005,000 after purchasing an additional 54 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at Alphabet
In related news, insider John Kent Walker sold 11,764 shares of the company's 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 completion of the sale, the insider now directly owns 49,037 shares of the company's stock, valued at $8,181,333.08. This represents a 19.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 2,717,696 shares of the company's stock, valued at approximately $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 ninety days, insiders sold 164,533 shares of company stock worth $26,772,774. 11.55% of the stock is owned by corporate insiders.
Alphabet Stock Performance
Shares of NASDAQ GOOGL traded down $2.13 during midday trading on Friday, hitting $169.73. The company's stock had a trading volume of 52,598,920 shares, compared to its average volume of 29,980,554. The stock has a fifty day moving average price of $159.12 and a 200 day moving average price of $174.68. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $2.06 trillion, a price-to-earnings ratio of 21.08, a P/E/G ratio of 1.34 and a beta of 1.01.
Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The company had revenue of $76.49 billion during the quarter, compared to analysts' expectations of $89.30 billion. During the same quarter in the prior year, the company earned $1.89 EPS. On average, research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.
Alphabet Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be paid a dividend of $0.21 per share. 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 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%.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on the company. Truist Financial decreased their price target on Alphabet from $220.00 to $200.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Wells Fargo & Company upped their price target on shares of Alphabet from $167.00 to $175.00 and gave the stock an "equal weight" rating in a research note on Friday, April 25th. Mizuho lowered their price objective on shares of Alphabet from $230.00 to $205.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Sanford C. Bernstein increased their price objective on shares of Alphabet from $165.00 to $185.00 and gave the company a "market perform" rating in a report on Friday, April 25th. Finally, Cantor Fitzgerald decreased their target price on Alphabet from $200.00 to $159.00 and set a "neutral" rating for the company in a research report on Wednesday, April 16th. Ten research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, Alphabet has an average rating of "Moderate Buy" and a consensus price target of $199.75.
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About Alphabet
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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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