Alphabet Inc. (NASDAQ:GOOG) is Penn Davis Mcfarland Inc.'s Largest Position

Penn Davis Mcfarland Inc. decreased its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 0.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 488,945 shares of the information services provider's stock after selling 4,307 shares during the quarter. Alphabet accounts for 9.0% of Penn Davis Mcfarland Inc.'s portfolio, making the stock its biggest holding. Penn Davis Mcfarland Inc.'s holdings in Alphabet were worth $76,388,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Principia Wealth Advisory LLC increased its position in shares of Alphabet by 111.8% during the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock valued at $26,000 after purchasing an additional 85 shares during the last quarter. LSV Asset Management bought a new position in shares of Alphabet during the 4th quarter valued at approximately $27,000. WealthTrak Capital Management LLC bought a new position in shares of Alphabet during the 4th quarter valued at approximately $38,000. Mountain Hill Investment Partners Corp. bought a new position in shares of Alphabet during the 4th quarter valued at approximately $39,000. Finally, Noble Wealth Management PBC bought a new position in shares of Alphabet during the 4th quarter valued at approximately $43,000. Institutional investors own 27.26% of the company's stock.

Alphabet Stock Up 2.2%

Shares of GOOG stock traded up $3.84 during mid-day trading on Friday, hitting $178.27. The stock had a trading volume of 73,956,281 shares, compared to its average volume of 20,984,165. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70. The firm has a market capitalization of $2.16 trillion, a P/E ratio of 19.87, a price-to-earnings-growth ratio of 1.26 and a beta of 1.01. The firm's 50-day moving average is $167.82 and its two-hundred day moving average is $176.02. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77.

Alphabet (NASDAQ:GOOG - Get Free Report) last issued its earnings results 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. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. 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. The business's revenue for the quarter was up 12.0% compared to the same quarter last year. On average, analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were paid a dividend of $0.21 per share. This is a boost from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend was Monday, June 9th. Alphabet's dividend payout ratio is 9.36%.

Analyst Upgrades and Downgrades

GOOG has been the topic of several analyst reports. The Goldman Sachs Group reissued a "buy" rating and set a $220.00 target price on shares of Alphabet in a research report on Monday, June 2nd. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $171.00 price objective on shares of Alphabet in a research report on Friday, April 25th. Oppenheimer upped their price objective on Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a research report on Friday, April 25th. JPMorgan Chase & Co. upped their price objective on Alphabet from $180.00 to $195.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. Finally, Citigroup reaffirmed a "sell" rating on shares of Alphabet in a research report on Wednesday, April 23rd. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and six have issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $204.88.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the completion of the sale, the chief executive officer now directly owns 2,717,696 shares in the company, valued at $430,917,877.76. This represents a 1.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director John L. Hennessy sold 200 shares of the company's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $161.90, for a total value of $32,380.00. Following the sale, the director now owns 7,613 shares of the company's stock, valued at $1,232,544.70. This trade represents a 2.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 216,195 shares of company stock worth $35,764,898 in the last three months. 12.99% of the stock is owned by insiders.

Alphabet Company Profile

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.