NorthCrest Asset Manangement LLC lifted its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 2.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 57,671 shares of the information services provider's stock after purchasing an additional 1,456 shares during the quarter. NorthCrest Asset Manangement LLC's holdings in Alphabet were worth $10,413,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Brighton Jones LLC lifted its position in Alphabet by 5.6% during the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider's stock worth $22,901,000 after buying an additional 6,410 shares in the last quarter. Bank Pictet & Cie Europe AG lifted its position in Alphabet by 4.3% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 506,535 shares of the information services provider's stock worth $96,465,000 after buying an additional 20,855 shares in the last quarter. DCM Advisors LLC lifted its position in Alphabet by 3.8% during the 4th quarter. DCM Advisors LLC now owns 15,060 shares of the information services provider's stock worth $2,868,000 after buying an additional 547 shares in the last quarter. 49 Wealth Management LLC lifted its position in Alphabet by 15.9% during the 4th quarter. 49 Wealth Management LLC now owns 8,854 shares of the information services provider's stock worth $1,686,000 after buying an additional 1,212 shares in the last quarter. Finally, Poehling Capital Management INC. lifted its position in Alphabet by 4.8% during the 4th quarter. Poehling Capital Management INC. now owns 64,588 shares of the information services provider's stock worth $12,300,000 after buying an additional 2,974 shares in the last quarter. Institutional investors own 27.26% of the company's stock.
Analysts Set New Price Targets
GOOG has been the topic of several research reports. Citizens Jmp upgraded shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 26th. Lake Street Capital reaffirmed a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Scotiabank raised their target price on shares of Alphabet from $200.00 to $240.00 and gave the company a "sector outperform" rating in a research note on Tuesday, July 22nd. Piper Sandler reaffirmed a "neutral" rating on shares of Alphabet in a research note on Wednesday, July 9th. Finally, JPMorgan Chase & Co. raised their target price on shares of Alphabet from $232.00 to $260.00 and gave the company an "overweight" rating in a research note on Wednesday, September 3rd. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $227.56.
Read Our Latest Stock Analysis on Alphabet
Insider Buying and Selling at Alphabet
In other news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction that occurred on Wednesday, September 3rd. The shares were sold at an average price of $229.73, for a total transaction of $7,466,225.00. Following the completion of the transaction, the chief executive officer directly owned 2,429,892 shares of the company's stock, valued at $558,219,089.16. This trade represents a 1.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O'toole sold 2,778 shares of the firm's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $245.00, for a total transaction of $680,610.00. Following the transaction, the chief accounting officer directly owned 17,293 shares of the company's stock, valued at $4,236,785. This represents a 13.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 258,088 shares of company stock valued at $52,405,304 over the last quarter. Insiders own 12.99% of the company's stock.
Alphabet Stock Up 1.2%
GOOG stock traded up $2.91 during mid-day trading on Friday, hitting $255.24. 41,503,403 shares of the company were exchanged, compared to its average volume of 24,489,492. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The firm has a market cap of $3.09 trillion, a P/E ratio of 27.18, a P/E/G ratio of 1.70 and a beta of 1.01. The firm's 50 day simple moving average is $210.08 and its 200 day simple moving average is $181.61. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $256.70.
Alphabet (NASDAQ:GOOG - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.12 by $0.19. The firm had revenue of $96.43 billion for the quarter, compared to the consensus estimate of $93.67 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business's quarterly revenue was up 13.8% on a year-over-year basis. During the same period last year, the company posted $1.89 EPS. On average, sell-side analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal year.
Alphabet Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Monday, September 8th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, September 8th. Alphabet's dividend payout ratio (DPR) is currently 8.95%.
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
Before you consider Alphabet, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Alphabet wasn't on the list.
While Alphabet currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
