Parthenon LLC lessened its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 0.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 166,662 shares of the information services provider's stock after selling 1,350 shares during the quarter. Alphabet comprises approximately 3.2% of Parthenon LLC's investment portfolio, making the stock its 6th biggest holding. Parthenon LLC's holdings in Alphabet were worth $25,773,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Eagle Capital Management LLC grew its holdings in Alphabet by 0.7% during the fourth quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider's stock valued at $9,490,000 after purchasing an additional 371 shares during the period. Brighton Jones LLC boosted its holdings in Alphabet by 3.9% during the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock worth $20,886,000 after purchasing an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC boosted its holdings in Alphabet by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock worth $2,826,000 after purchasing an additional 506 shares during the last quarter. Highview Capital Management LLC DE raised its position in Alphabet by 3.6% during the fourth quarter. Highview Capital Management LLC DE now owns 29,100 shares of the information services provider's stock worth $5,509,000 after acquiring an additional 1,003 shares in the last quarter. Finally, Hudson Value Partners LLC raised its position in Alphabet by 22.7% during the fourth quarter. Hudson Value Partners LLC now owns 73,282 shares of the information services provider's stock worth $13,873,000 after acquiring an additional 13,564 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.
Insider Activity
In related news, Director Kavitark Ram Shriram sold 18,566 shares of the company's stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the sale, the director directly owned 243,400 shares in the company, valued at $45,213,984. This represents a 7.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction that occurred on 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 transaction, the chief executive officer owned 2,559,892 shares of the company's stock, valued at approximately $456,991,919.84. This trade represents a 1.25% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 249,409 shares of company stock worth $43,523,710 in the last ninety days. 11.64% of the stock is currently owned by insiders.
Alphabet Price Performance
Shares of NASDAQ:GOOGL traded up $1.01 during midday trading on Friday, reaching $193.18. 39,738,342 shares of the company were exchanged, compared to its average volume of 41,427,228. The business's fifty day moving average is $175.77 and its two-hundred day moving average is $172.93. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The stock has a market cap of $2.34 trillion, a PE ratio of 20.57, a price-to-earnings-growth ratio of 1.33 and a beta of 1.00. The company has a current ratio of 1.90, a quick ratio of 1.77 and a debt-to-equity ratio of 0.07.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results 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 31.12% and a return on equity of 34.31%. The company had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter in the prior year, the firm earned $1.89 earnings per share. As a group, analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.
Alphabet Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.43%. The ex-dividend date is Monday, September 8th. Alphabet's dividend payout ratio is currently 8.95%.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on GOOGL. Citigroup increased their price objective on shares of Alphabet from $203.00 to $225.00 and gave the company a "buy" rating in a research report on Thursday. KeyCorp raised their price target on shares of Alphabet from $215.00 to $230.00 and gave the company an "overweight" rating in a research note on Thursday. Wells Fargo & Company raised their price objective on shares of Alphabet from $177.00 to $184.00 and gave the company an "equal weight" rating in a report on Thursday. Jefferies Financial Group lowered their price target on shares of Alphabet from $235.00 to $200.00 and set a "buy" rating for the company in a report on Monday, March 31st. Finally, BNP Paribas Exane reaffirmed a "neutral" rating and set a $172.00 price objective on shares of Alphabet in a research report on Friday, June 27th. Ten analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Alphabet has an average rating of "Moderate Buy" and a consensus target price of $211.32.
Check Out Our Latest Research Report on GOOGL
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.
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