Pandora Wealth Inc. purchased a new stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 5,356 shares of the information services provider's stock, valued at approximately $837,000.
A number of other institutional investors have also recently bought and sold shares of the stock. Principia Wealth Advisory LLC lifted its position in shares of Alphabet by 111.8% in the first quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after purchasing an additional 85 shares in the last quarter. MorganRosel Wealth Management LLC bought a new stake in shares of Alphabet in the first quarter worth $26,000. LSV Asset Management bought a new stake in shares of Alphabet in the fourth quarter worth $27,000. Goodman Advisory Group LLC acquired a new position in Alphabet during the first quarter worth $32,000. Finally, Greykasell Wealth Strategies Inc. bought a new stake in Alphabet during the first quarter worth $32,000. Institutional investors own 27.26% of the company's stock.
Analyst Ratings Changes
A number of research analysts have recently commented on the stock. Cantor Fitzgerald reissued a "neutral" rating and issued a $171.00 price objective on shares of Alphabet in a research report on Friday, April 25th. Scotiabank lifted their price objective on shares of Alphabet from $200.00 to $240.00 and gave the company a "sector outperform" rating in a research report on Tuesday, July 22nd. Oppenheimer reissued an "outperform" rating and issued a $235.00 price objective (up previously from $220.00) on shares of Alphabet in a research report on Thursday, July 24th. Roth Capital reissued a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Finally, Piper Sandler reissued a "neutral" rating on shares of Alphabet in a research report on Wednesday, July 9th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $215.19.
View Our Latest Analysis on Alphabet
Insider Transactions at Alphabet
In other news, insider John Kent Walker sold 23,820 shares of the stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $194.70, for a total value of $4,637,754.00. Following the completion of the transaction, the insider owned 42,999 shares of the company's stock, valued at approximately $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the completion of the transaction, the chief executive officer directly owned 2,559,892 shares of the company's stock, valued at $456,991,919.84. This trade represents a 1.25% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 273,219 shares of company stock valued at $49,474,273. 12.99% of the stock is currently owned by insiders.
Alphabet Trading Up 2.4%
Shares of Alphabet stock opened at $202.11 on Friday. The company has a market capitalization of $2.44 trillion, a price-to-earnings ratio of 21.52, a PEG ratio of 1.31 and a beta of 1.02. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70. The firm's 50-day moving average price is $181.90 and its two-hundred day moving average price is $174.70.
Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 revenue for the quarter was up 13.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.89 earnings per share. On average, analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.
Alphabet Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. Alphabet's dividend payout ratio is 8.95%.
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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