Oppenheimer Asset Management Inc. decreased its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 11.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 393,847 shares of the information services provider's stock after selling 51,768 shares during the period. Alphabet comprises 0.8% of Oppenheimer Asset Management Inc.'s portfolio, making the stock its 19th largest holding. Oppenheimer Asset Management Inc.'s holdings in Alphabet were worth $61,531,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC lifted its position in shares of Alphabet by 2.8% during the 4th 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 period. Geode Capital Management LLC boosted its position in Alphabet by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 104,777,092 shares of the information services provider's stock worth $19,894,651,000 after acquiring an additional 1,219,606 shares during the last quarter. Capital International Investors boosted its holdings in shares of Alphabet by 6.7% during the fourth quarter. Capital International Investors now owns 91,236,069 shares of the information services provider's stock worth $17,376,706,000 after purchasing an additional 5,758,244 shares during the last quarter. Northern Trust Corp boosted its stake in Alphabet by 16.1% in the 4th quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock worth $10,873,751,000 after buying an additional 7,917,625 shares during the last quarter. Finally, Capital Research Global Investors boosted its position in shares of 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 worth $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.
Insider Buying and Selling
In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on 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 sale, the chief executive officer now 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O'toole sold 673 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total value of $104,537.09. Following the completion of the transaction, the chief accounting officer now directly owns 15,303 shares of the company's stock, valued at approximately $2,377,014.99. The trade was a 4.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 228,070 shares of company stock worth $37,745,632 over the last quarter. 12.99% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
GOOG has been the topic of a number of research analyst reports. Scotiabank reduced their target price on Alphabet from $232.00 to $200.00 and set a "sector outperform" rating on the stock in a report on Monday, April 21st. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $220.00 price objective on shares of Alphabet in a research note on Monday, June 2nd. Rosenblatt Securities upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a report on Friday, April 25th. UBS Group cut their price target on shares of Alphabet from $209.00 to $173.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Finally, Oppenheimer boosted their price objective on shares of Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a research note on Friday, April 25th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat, Alphabet presently has an average rating of "Moderate Buy" and an average price target of $204.88.
Get Our Latest Stock Report on GOOG
Alphabet Stock Up 2.4%
Shares of NASDAQ:GOOG traded up $4.08 during trading on Wednesday, hitting $171.82. The company's stock had a trading volume of 18,366,175 shares, compared to its average volume of 20,675,467. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70. The stock's 50-day moving average price is $166.58 and its two-hundred day moving average price is $176.27. 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 company has a market capitalization of $2.09 trillion, a PE ratio of 19.14, a PEG ratio of 1.17 and a beta of 1.01.
Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping the consensus estimate 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%. The firm's revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period last year, the business earned $1.89 EPS. As a group, sell-side analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.
Alphabet Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.49%. This is a boost from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 9th. Alphabet's dividend payout ratio is 9.36%.
Alphabet Company 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.
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