Providence Capital Advisors LLC grew its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 2.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 59,104 shares of the information services provider's stock after purchasing an additional 1,264 shares during the quarter. Alphabet accounts for 1.9% of Providence Capital Advisors LLC's portfolio, making the stock its 6th largest position. Providence Capital Advisors LLC's holdings in Alphabet were worth $9,234,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of GOOG. Principia Wealth Advisory LLC grew its holdings in shares of Alphabet by 111.8% in the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock worth $26,000 after acquiring an additional 85 shares during the last quarter. MorganRosel Wealth Management LLC acquired a new position in shares of Alphabet in the 1st quarter worth $26,000. Goodman Advisory Group LLC acquired a new stake in shares of Alphabet in the first quarter worth $32,000. Greykasell Wealth Strategies Inc. acquired a new stake in shares of Alphabet in the first quarter worth $32,000. Finally, Graybill Wealth Management LTD. acquired a new stake in shares of Alphabet in the first quarter worth $44,000. 27.26% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Alphabet
In related news, Director Kavitark Ram Shriram sold 18,566 shares of the business's stock in a transaction dated 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 transaction, the director directly owned 243,400 shares in the company, valued at $45,213,984. The trade was a 7.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John Kent Walker sold 23,820 shares of the business's stock in a transaction dated 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 transaction, the insider owned 42,999 shares in the company, valued at $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 274,819 shares of company stock worth $49,796,547. Company insiders own 12.99% of the company's stock.
Alphabet Stock Up 0.5%
NASDAQ GOOG traded up $1.09 during trading on Friday, hitting $204.91. 21,099,072 shares of the company traded hands, compared to its average volume of 24,037,520. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The business has a fifty day simple moving average of $185.21 and a 200 day simple moving average of $174.87. The company has a market capitalization of $2.48 trillion, a P/E ratio of 21.82, a PEG ratio of 1.35 and a beta of 1.02. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $208.70.
Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts' consensus estimates of $2.12 by $0.19. The business had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The firm's revenue for the quarter was up 13.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.89 earnings per share. As a group, sell-side analysts predict that Alphabet Inc. will post 8.89 EPS for the current year.
Alphabet Announces Dividend
The firm also recently disclosed 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. 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 presently 8.95%.
Analysts Set New Price Targets
Several analysts have recently commented on GOOG shares. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $171.00 target price on shares of Alphabet in a research report on Friday, April 25th. Scotiabank raised their target price on Alphabet from $200.00 to $240.00 and gave the stock a "sector outperform" rating in a research report on Tuesday, July 22nd. Needham & Company LLC cut Alphabet from a "buy" rating to a "cautious" rating in a research report on Friday, May 2nd. JPMorgan Chase & Co. raised their target price on Alphabet from $200.00 to $232.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Finally, Roth Capital reaffirmed a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $215.19.
Check Out Our Latest Stock Report on Alphabet
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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