Patrick Mauro Investment Advisor INC. lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 12.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,289 shares of the information services provider's stock after acquiring an additional 3,736 shares during the quarter. Alphabet accounts for about 2.8% of Patrick Mauro Investment Advisor INC.'s portfolio, making the stock its 16th largest position. Patrick Mauro Investment Advisor INC.'s holdings in Alphabet were worth $5,148,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also modified their holdings of the stock. Perritt Capital Management Inc increased its holdings in Alphabet by 10.4% in the fourth quarter. Perritt Capital Management Inc now owns 618 shares of the information services provider's stock valued at $117,000 after buying an additional 58 shares during the last quarter. Nia Impact Advisors LLC grew its holdings in shares of Alphabet by 0.3% during the fourth quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider's stock worth $3,249,000 after purchasing an additional 59 shares during the last quarter. Hanlon Investment Management Inc. grew its holdings in shares of Alphabet by 1.7% during the fourth quarter. Hanlon Investment Management Inc. now owns 3,553 shares of the information services provider's stock worth $673,000 after purchasing an additional 60 shares during the last quarter. Enzi Wealth grew its holdings in shares of Alphabet by 2.5% during the first quarter. Enzi Wealth now owns 2,561 shares of the information services provider's stock worth $408,000 after purchasing an additional 62 shares during the last quarter. Finally, Whipplewood Advisors LLC grew its holdings in shares of Alphabet by 1.2% during the first quarter. Whipplewood Advisors LLC now owns 5,438 shares of the information services provider's stock worth $817,000 after purchasing an additional 67 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.
Insider Buying and Selling
In other Alphabet news, Director John L. Hennessy sold 400 shares of the firm's stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $181.98, for a total value of $72,792.00. Following the sale, the director owned 6,013 shares in the company, valued at approximately $1,094,245.74. This trade represents a 6.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the firm's stock in a transaction that occurred on Friday, July 18th. The shares were 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 owned 243,400 shares in the company, valued at $45,213,984. The trade was a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 249,409 shares of company stock worth $43,523,710 over the last quarter. 11.64% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
Several equities analysts have issued reports on GOOGL shares. Citigroup raised their price objective on Alphabet from $203.00 to $225.00 and gave the stock a "buy" rating in a report on Thursday. Rosenblatt Securities raised their price objective on Alphabet from $189.00 to $191.00 and gave the stock a "neutral" rating in a report on Thursday. Guggenheim lifted their target price on shares of Alphabet from $190.00 to $210.00 and gave the stock a "buy" rating in a research report on Wednesday. Cantor Fitzgerald upped their price target on shares of Alphabet from $196.00 to $201.00 and gave the company a "neutral" rating in a report on Thursday. Finally, BMO Capital Markets raised their price objective on shares of Alphabet from $208.00 to $225.00 and gave the stock an "outperform" rating in a research note on Thursday. Ten investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $211.32.
View Our Latest Report on Alphabet
Alphabet Stock Performance
GOOGL traded up $1.01 on Friday, hitting $193.18. 39,738,342 shares of the company's stock were exchanged, compared to its average volume of 41,427,228. The firm has a market cap of $2.34 trillion, a PE ratio of 20.57, a P/E/G ratio of 1.33 and a beta of 1.00. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The stock has a fifty day moving average of $175.77 and a two-hundred day moving average of $172.93. 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 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 firm had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. During the same quarter in the prior year, the business earned $1.89 earnings per share. On average, research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
Alphabet Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.43%. Alphabet's dividend payout ratio (DPR) 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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