Price T Rowe Associates Inc. MD lowered its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 9.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 89,134,129 shares of the information services provider's stock after selling 9,503,998 shares during the period. Alphabet makes up approximately 1.7% of Price T Rowe Associates Inc. MD's portfolio, making the stock its 8th largest position. Price T Rowe Associates Inc. MD owned approximately 0.73% of Alphabet worth $13,783,702,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in GOOGL. Nuveen LLC bought a new stake in Alphabet in the 1st quarter worth approximately $4,317,606,000. GAMMA Investing LLC grew its position in Alphabet by 16,993.2% in the 1st quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider's stock worth $2,483,898,000 after purchasing an additional 15,968,487 shares during the period. Vanguard Group Inc. grew its position in Alphabet by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 509,826,331 shares of the information services provider's stock worth $78,839,544,000 after purchasing an additional 14,307,345 shares during the period. Northern Trust Corp grew its position in Alphabet by 17.0% in the 4th quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock worth $13,178,470,000 after purchasing an additional 10,135,430 shares during the period. Finally, Wellington Management Group LLP grew its position in Alphabet by 15.9% in the 4th quarter. Wellington Management Group LLP now owns 66,050,135 shares of the information services provider's stock worth $12,503,291,000 after purchasing an additional 9,042,271 shares during the period. Institutional investors own 40.03% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on the stock. Stifel Nicolaus lifted their target price on shares of Alphabet from $200.00 to $218.00 and gave the stock a "buy" rating in a research report on Tuesday, July 22nd. Needham & Company LLC reaffirmed a "buy" rating and issued a $220.00 target price on shares of Alphabet in a research report on Thursday. Wedbush lifted their target price on shares of Alphabet from $200.00 to $225.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Citigroup lifted their price target on shares of Alphabet from $203.00 to $225.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Finally, BNP Paribas downgraded shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 26th. Four analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $211.53.
Get Our Latest Analysis on GOOGL
Insider Activity
In other Alphabet news, insider John Kent Walker sold 23,820 shares of the business's stock in a transaction on 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 sale, the insider owned 42,999 shares in the company, valued at $8,371,905.30. The trade was a 35.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John L. Hennessy sold 1,000 shares of the business's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $200.00, for a total transaction of $200,000.00. Following the completion of the sale, the director owned 6,916 shares in the company, valued at approximately $1,383,200. The trade was a 12.63% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 254,719 shares of company stock worth $47,223,172 in the last quarter. Corporate insiders own 11.55% of the company's stock.
Alphabet Stock Up 3.2%
GOOGL opened at $206.09 on Monday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $208.54. The firm's fifty day moving average is $186.81 and its 200 day moving average is $173.12. The stock has a market cap of $2.49 trillion, a price-to-earnings ratio of 21.95, a price-to-earnings-growth ratio of 1.39 and a beta of 1.01.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The company had revenue of $96,428,000 billion for the quarter, compared to analysts' expectations of $93.60 billion. On average, sell-side analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
Alphabet Announces Dividend
The company also recently announced 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 is Monday, September 8th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. Alphabet's payout ratio is 8.95%.
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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