Oxbow Advisors LLC decreased its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 2.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 141,838 shares of the information services provider's stock after selling 3,367 shares during the quarter. Alphabet accounts for approximately 2.3% of Oxbow Advisors LLC's portfolio, making the stock its 7th largest position. Oxbow Advisors LLC's holdings in Alphabet were worth $22,159,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Alphabet in the fourth quarter worth $5,166,070,000. GAMMA Investing LLC boosted its stake in Alphabet by 18,562.3% in the first quarter. GAMMA Investing LLC now owns 14,323,323 shares of the information services provider's stock valued at $2,237,733,000 after acquiring an additional 14,246,573 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Alphabet in the fourth quarter valued at $1,551,533,000. Northern Trust Corp boosted its stake 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 in the last quarter. Finally, GQG Partners LLC boosted its stake in Alphabet by 181,679.1% in the fourth quarter. GQG Partners LLC now owns 7,225,721 shares of the information services provider's stock valued at $1,376,066,000 after acquiring an additional 7,221,746 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.
Alphabet Stock Up 0.4%
GOOG stock traded up $0.67 during mid-day trading on Wednesday, hitting $183.77. 21,124,587 shares of the company were exchanged, compared to its average volume of 21,528,868. 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 $2.23 trillion, a P/E ratio of 20.49, a P/E/G ratio of 1.29 and a beta of 1.01. The firm's 50 day simple moving average is $172.19 and its 200 day simple moving average is $174.74. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70.
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 (EPS) for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The company had revenue of $90.23 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same period last year, the company earned $1.89 earnings per share. The firm's revenue was up 12.0% compared to the same quarter last year. On average, sell-side analysts predict that Alphabet Inc. will post 8.89 EPS for the current fiscal 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 paid a dividend of $0.21 per share. This is an increase from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.46%. Alphabet's payout ratio is presently 9.36%.
Wall Street Analyst Weigh In
GOOG has been the subject of a number of research reports. Lake Street Capital reaffirmed a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $220.00 target price on shares of Alphabet in a report on Monday, June 2nd. Westpark Capital reaffirmed a "buy" rating and issued a $210.00 target price on shares of Alphabet in a report on Friday, April 25th. Cowen reaffirmed a "buy" rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, Citizens Jmp raised shares of Alphabet from a "hold" rating to a "strong-buy" rating in a report on Thursday, June 26th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and six have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $208.40.
Read Our Latest Stock Analysis on Alphabet
Insiders Place Their Bets
In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $155.90, for a total value of $5,066,750.00. Following the completion of the sale, the chief executive officer owned 2,652,696 shares of the company's stock, valued at approximately $413,555,306.40. This trade represents a 1.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of Alphabet stock in a transaction dated 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 sale, the director directly owned 261,966 shares of the company's stock, valued at approximately $45,844,050. This trade represents a 3.85% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 182,943 shares of company stock valued at $31,223,348. 12.99% of the stock is currently owned by corporate insiders.
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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