Mayflower Financial Advisors LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 9.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,146 shares of the information services provider's stock after purchasing an additional 2,813 shares during the quarter. Mayflower Financial Advisors LLC's holdings in Alphabet were worth $4,866,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently made changes to their positions in the company. Hudock Inc. boosted its position in Alphabet by 92.3% during the first quarter. Hudock Inc. now owns 7,887 shares of the information services provider's stock worth $1,232,000 after purchasing an additional 3,785 shares during the period. Legacy Capital Wealth Partners LLC boosted its holdings in shares of Alphabet by 11.4% in the first quarter. Legacy Capital Wealth Partners LLC now owns 4,030 shares of the information services provider's stock worth $630,000 after acquiring an additional 411 shares during the period. Napatree Capital LLC grew its position in shares of Alphabet by 0.8% in the first quarter. Napatree Capital LLC now owns 8,936 shares of the information services provider's stock valued at $1,396,000 after purchasing an additional 74 shares in the last quarter. Lineweaver Wealth Advisors LLC raised its stake in shares of Alphabet by 2.6% during the 1st quarter. Lineweaver Wealth Advisors LLC now owns 4,168 shares of the information services provider's stock valued at $651,000 after purchasing an additional 106 shares during the period. Finally, Allen Capital Group LLC lifted its holdings in Alphabet by 5.8% during the 1st quarter. Allen Capital Group LLC now owns 6,029 shares of the information services provider's stock worth $942,000 after purchasing an additional 331 shares in the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.
Alphabet Trading Up 0.5%
Alphabet stock traded up $0.93 during trading hours on Thursday, reaching $184.70. The company had a trading volume of 21,543,056 shares, compared to its average volume of 24,014,789. The firm has a market cap of $2.24 trillion, a price-to-earnings ratio of 20.59, a P/E/G ratio of 1.29 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. The company has a 50-day moving average price of $172.81 and a 200 day moving average price of $174.80. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70.
Alphabet (NASDAQ:GOOG - Get Free Report) last posted its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. The company had revenue of $90.23 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. Alphabet's revenue for the quarter was up 12.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.89 earnings per share. Equities analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.
Alphabet Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were given a $0.21 dividend. 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 dividend yield of 0.45%. The ex-dividend date was Monday, June 9th. Alphabet's dividend payout ratio (DPR) is currently 9.36%.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on GOOG. Cantor Fitzgerald reissued a "neutral" rating and issued a $171.00 price target on shares of Alphabet in a report on Friday, April 25th. Needham & Company LLC cut shares of Alphabet from a "buy" rating to a "cautious" rating in a report on Friday, May 2nd. Westpark Capital reiterated a "buy" rating and issued a $210.00 price objective on shares of Alphabet in a research report on Friday, April 25th. Lake Street Capital restated a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, The Goldman Sachs Group reissued a "buy" rating and set a $220.00 price objective on shares of Alphabet in a report on Monday, June 2nd. Three research analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have given a buy rating and five have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $208.40.
Check Out Our Latest Analysis on Alphabet
Insider Activity
In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the sale, the chief executive officer directly owned 2,559,892 shares of the company's stock, valued at approximately $456,991,919.84. The trade was a 1.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $1,837,500.00. Following the completion of the transaction, the director directly owned 261,966 shares of the company's stock, valued at $45,844,050. This represents a 3.85% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 183,343 shares of company stock valued at $31,296,140. Company insiders own 12.99% of the company's stock.
Alphabet Company 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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