Principal Street Partners LLC lowered its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 49.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,668 shares of the information services provider's stock after selling 13,580 shares during the quarter. Principal Street Partners LLC's holdings in Alphabet were worth $2,603,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in the company. GPS Wealth Strategies Group LLC boosted its stake in shares of Alphabet by 6.8% during the fourth quarter. GPS Wealth Strategies Group LLC now owns 16,248 shares of the information services provider's stock valued at $3,094,000 after acquiring an additional 1,041 shares during the last quarter. Harvest Investment Services LLC boosted its stake in Alphabet by 3.3% in the 4th quarter. Harvest Investment Services LLC now owns 4,329 shares of the information services provider's stock worth $824,000 after buying an additional 138 shares during the last quarter. North Forty Two & Co. acquired a new stake in Alphabet in the 4th quarter worth about $281,000. SageView Advisory Group LLC boosted its stake in Alphabet by 140.6% in the 4th quarter. SageView Advisory Group LLC now owns 14,734 shares of the information services provider's stock worth $2,806,000 after buying an additional 8,610 shares during the last quarter. Finally, Requisite Capital Management LLC acquired a new stake in Alphabet in the 4th quarter worth about $927,000. Hedge funds and other institutional investors own 27.26% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts have issued reports on GOOG shares. Morgan Stanley reissued an "overweight" rating on shares of Alphabet in a research note on Wednesday, February 5th. Susquehanna reissued a "positive" rating on shares of Alphabet in a research note on Friday, May 2nd. Westpark Capital reissued a "buy" rating and issued a $210.00 price target on shares of Alphabet in a research note on Friday, April 25th. Cantor Fitzgerald reissued a "neutral" rating and issued a $171.00 price target on shares of Alphabet in a research note on Friday, April 25th. Finally, JPMorgan Chase & Co. raised their price objective on Alphabet from $180.00 to $195.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and five have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $203.94.
View Our Latest Stock Analysis on GOOG
Alphabet Stock Up 1.1%
Shares of NASDAQ:GOOG traded up $1.92 during mid-day trading on Thursday, hitting $171.98. 44,924,476 shares of the company traded hands, compared to its average volume of 20,042,982. The firm has a market cap of $2.09 trillion, a P/E ratio of 21.36, a PEG ratio of 1.34 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $208.70. The firm's 50 day simple moving average is $160.23 and its 200 day simple moving average is $176.62.
Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The company had revenue of $90.23 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same period in the previous 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, equities analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.
Alphabet Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, June 9th. This is an increase from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.49%. Alphabet's payout ratio is currently 9.36%.
Insiders Place Their Bets
In other news, insider Ruth Porat sold 17,690 shares of Alphabet stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $183.48, for a total value of $3,245,761.20. Following the completion of the transaction, the insider now owns 1,449,286 shares in the company, valued at approximately $265,914,995.28. This trade represents a 1.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the transaction, the chief executive officer now owns 2,717,696 shares of the company's stock, valued at approximately $430,917,877.76. The trade was a 1.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 129,744 shares of company stock worth $20,968,366 in the last three months. 12.99% of the stock is owned by insiders.
Alphabet Profile
(
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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