Next Level Private LLC lessened its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 11.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,810 shares of the information services provider's stock after selling 1,594 shares during the period. Next Level Private LLC's holdings in Alphabet were worth $1,826,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Intellectus Partners LLC lifted its stake in shares of Alphabet by 1.7% in the 1st quarter. Intellectus Partners LLC now owns 25,691 shares of the information services provider's stock valued at $3,973,000 after acquiring an additional 436 shares during the last quarter. Insight Advisors LLC PA lifted its stake in shares of Alphabet by 69.1% in the 1st quarter. Insight Advisors LLC PA now owns 24,932 shares of the information services provider's stock valued at $3,856,000 after acquiring an additional 10,184 shares during the last quarter. Consilio Wealth Advisors LLC lifted its stake in shares of Alphabet by 0.9% in the 1st quarter. Consilio Wealth Advisors LLC now owns 9,661 shares of the information services provider's stock valued at $1,494,000 after acquiring an additional 83 shares during the last quarter. Hudson Capital Management LLC raised its position in Alphabet by 2.6% during the 1st quarter. Hudson Capital Management LLC now owns 31,035 shares of the information services provider's stock valued at $4,799,000 after purchasing an additional 775 shares during the last quarter. Finally, 626 Financial LLC raised its position in Alphabet by 1.3% during the 1st quarter. 626 Financial LLC now owns 27,296 shares of the information services provider's stock valued at $4,221,000 after purchasing an additional 347 shares during the last quarter. Institutional investors own 40.03% of the company's stock.
Alphabet Stock Performance
GOOGL stock opened at $168.21 on Friday. The company has a market cap of $2.04 trillion, a P/E ratio of 20.90, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05. 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 stock's fifty day moving average price is $159.81 and its 200-day moving average price is $174.38.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The firm had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same period last year, the business posted $1.89 EPS. On average, equities analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.
Alphabet Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be issued a $0.21 dividend. This is a boost from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date is Monday, June 9th. Alphabet's dividend payout ratio (DPR) is currently 9.36%.
Insider Buying and Selling at Alphabet
In other news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the completion of the transaction, the chief executive officer now owns 2,717,696 shares in the company, valued at $430,917,877.76. This trade represents a 1.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 10,500 shares of the business's 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 sale, the director now directly owns 261,966 shares in the company, valued at $45,844,050. The trade was a 3.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 195,770 shares of company stock valued at $32,036,638 over the last ninety days. 11.64% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
A number of research analysts have commented on GOOGL shares. Westpark Capital reaffirmed a "buy" rating and set a $210.00 price target on shares of Alphabet in a research report on Thursday, May 8th. Needham & Company LLC reiterated a "buy" rating and set a $178.00 target price on shares of Alphabet in a report on Friday, April 25th. JMP Securities reiterated a "market perform" rating on shares of Alphabet in a report on Wednesday, May 21st. Royal Bank of Canada reiterated an "outperform" rating and set a $200.00 target price on shares of Alphabet in a report on Wednesday, April 23rd. Finally, Citigroup upped their target price on Alphabet from $195.00 to $200.00 and gave the stock a "buy" rating in a report on Friday, April 25th. Ten analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $199.75.
Check Out Our Latest Report on GOOGL
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.
See Also
Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL - Free Report).
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