Alphabet Inc. (NASDAQ:GOOG) Shares Bought by Money Concepts Capital Corp

Money Concepts Capital Corp lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 14.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,255 shares of the information services provider's stock after purchasing an additional 1,524 shares during the period. Money Concepts Capital Corp's holdings in Alphabet were worth $1,915,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. FMR LLC lifted its holdings in Alphabet by 2.8% in the fourth quarter. FMR LLC now owns 117,991,725 shares of the information services provider's stock valued at $22,470,344,000 after acquiring an additional 3,189,592 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Alphabet by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 104,777,092 shares of the information services provider's stock valued at $19,894,651,000 after acquiring an additional 1,219,606 shares during the last quarter. Capital International Investors lifted its holdings in Alphabet by 6.7% in the fourth quarter. Capital International Investors now owns 91,236,069 shares of the information services provider's stock valued at $17,376,706,000 after acquiring an additional 5,758,244 shares during the last quarter. Northern Trust Corp lifted its holdings in Alphabet by 16.1% in the fourth quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock valued at $10,873,751,000 after acquiring an additional 7,917,625 shares during the last quarter. Finally, Capital Research Global Investors lifted its holdings in Alphabet by 0.8% in the fourth quarter. Capital Research Global Investors now owns 39,148,500 shares of the information services provider's stock valued at $7,455,571,000 after acquiring an additional 294,556 shares during the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Up 2.2%

Shares of Alphabet stock traded up $3.84 during trading hours on Friday, reaching $178.27. 73,956,281 shares of the company were exchanged, compared to its average volume of 20,984,165. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70. The stock's fifty day moving average is $167.82 and its 200 day moving average is $176.02. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. The firm has a market cap of $2.16 trillion, a PE ratio of 19.87, a PEG ratio of 1.26 and a beta of 1.01.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings data 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. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The business had revenue of $90.23 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same quarter in the prior year, the company earned $1.89 earnings per share. The company's revenue was up 12.0% on a year-over-year basis. As a group, equities research analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were given a dividend of $0.21 per share. The ex-dividend date was Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.47%. This is a positive change from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio is currently 9.36%.

Analyst Ratings Changes

GOOG has been the topic of a number of recent analyst reports. KeyCorp decreased their price objective on Alphabet from $202.00 to $185.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. Scotiabank cut their target price on Alphabet from $232.00 to $200.00 and set a "sector outperform" rating on the stock in a research report on Monday, April 21st. Tigress Financial reissued a "strong-buy" rating on shares of Alphabet in a research report on Friday, May 2nd. The Goldman Sachs Group reissued a "buy" rating and issued a $220.00 target price on shares of Alphabet in a research report on Monday, June 2nd. Finally, Rosenblatt Securities raised Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 25th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and six have issued a strong buy rating to the company's stock. According to data from MarketBeat, Alphabet presently has an average rating of "Moderate Buy" and a consensus price target of $206.38.

Insider Buying and Selling

In related news, CAO Amie Thuener O'toole sold 673 shares of the business's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total transaction of $104,537.09. Following the completion of the transaction, the chief accounting officer now owns 15,303 shares in the company, valued at approximately $2,377,014.99. The trade was a 4.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $176.68, for a total transaction of $5,742,100.00. Following the transaction, the chief executive officer now owns 2,555,196 shares of the company's stock, valued at approximately $451,452,029.28. The trade was a 1.26% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 216,195 shares of company stock worth $35,764,898. Corporate insiders own 12.99% of the company's stock.

Alphabet Company Profile

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.