Parkside Investments LLC decreased its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 19.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 60,076 shares of the information services provider's stock after selling 14,521 shares during the period. Alphabet makes up 1.4% of Parkside Investments LLC's portfolio, making the stock its 25th largest holding. Parkside Investments LLC's holdings in Alphabet were worth $9,386,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of GOOG. Cassaday & Co Wealth Management LLC increased its stake in Alphabet by 9.3% in the fourth quarter. Cassaday & Co Wealth Management LLC now owns 28,044 shares of the information services provider's stock valued at $5,341,000 after acquiring an additional 2,390 shares during the period. LaFleur & Godfrey LLC grew its stake in shares of Alphabet by 1.2% in the 4th quarter. LaFleur & Godfrey LLC now owns 31,967 shares of the information services provider's stock valued at $6,088,000 after purchasing an additional 380 shares during the period. Brighton Jones LLC raised its holdings in shares of Alphabet by 5.6% in 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. Union Bancaire Privee UBP SA bought a new position in shares of Alphabet during the 4th quarter worth approximately $204,262,000. Finally, Ascent Wealth Partners LLC boosted its stake in Alphabet by 246.2% in the 4th quarter. Ascent Wealth Partners LLC now owns 5,698 shares of the information services provider's stock valued at $1,085,000 after buying an additional 4,052 shares in the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.
Analysts Set New Price Targets
A number of research analysts have issued reports on GOOG shares. Needham & Company LLC cut Alphabet from a "buy" rating to a "cautious" rating in a report on Friday, May 2nd. Oppenheimer lifted their price target on shares of Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a report on Friday, April 25th. Citigroup reaffirmed a "sell" rating on shares of Alphabet in a report on Wednesday, April 23rd. 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. Finally, Susquehanna restated a "positive" rating on shares of Alphabet in a research report on Friday, May 2nd. Three analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet currently has a consensus rating of "Moderate Buy" and an average price target of $204.88.
Read Our Latest Analysis on GOOG
Alphabet Trading Down 0.6%
Shares of GOOG traded down $1.09 during trading hours on Friday, reaching $175.88. The stock had a trading volume of 20,848,122 shares, compared to its average volume of 20,479,029. The company has a market cap of $2.13 trillion, a P/E ratio of 21.85, a P/E/G ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $208.70. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm has a 50-day moving average of $163.98 and a 200 day moving average of $176.27.
Alphabet (NASDAQ:GOOG - Get Free Report) last posted its 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 business had revenue of $90.23 billion during the quarter, compared to analysts' expectations of $89.30 billion. During the same period in the prior year, the business earned $1.89 EPS. Alphabet's revenue for the quarter was up 12.0% compared to the same quarter last year. On average, sell-side analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.
Alphabet Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend is Monday, June 9th. This is a positive change from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio (DPR) is currently 9.36%.
Insider Buying and Selling at Alphabet
In related news, CAO Amie Thuener O'toole sold 673 shares of the firm's stock in a transaction on Tuesday, April 1st. The shares were 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 owns 15,303 shares of the company's stock, valued at approximately $2,377,014.99. This trade represents a 4.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $168.71, for a total transaction of $5,483,075.00. Following the sale, the chief executive officer now directly owns 2,587,696 shares in the company, valued at $436,570,192.16. This trade represents a 1.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 195,570 shares of company stock worth $32,003,532. Corporate insiders own 12.99% of the company's stock.
About Alphabet
(
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
Looking for the next FAANG stock before everyone has heard about it? Enter your email address to see which stocks MarketBeat analysts think might become the next trillion dollar tech company.
Get This Free Report
