PTM Wealth Management LLC bought a new stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm bought 1,823 shares of the information services provider's stock, valued at approximately $264,000.
A number of other institutional investors also recently modified their holdings of GOOGL. FMR LLC boosted its holdings in Alphabet by 9.8% in the fourth quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock valued at $47,025,322,000 after acquiring an additional 22,100,902 shares during the last quarter. GAMMA Investing LLC boosted its stake in Alphabet by 16,993.2% during the 1st quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider's stock valued at $2,483,898,000 after purchasing an additional 15,968,487 shares during the last quarter. Northern Trust Corp grew its holdings in Alphabet by 17.0% during the fourth quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock worth $13,178,470,000 after buying an additional 10,135,430 shares in the last quarter. Capital Research Global Investors raised its holdings in shares of Alphabet by 16.2% in the fourth quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock valued at $13,635,878,000 after purchasing an additional 10,037,685 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Alphabet by 15.9% during 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 buying an additional 9,042,271 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.
Insider Buying and Selling at Alphabet
In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $196.23, for a total transaction of $6,377,475.00. Following the sale, the chief executive officer owned 2,494,892 shares in the company, valued at approximately $489,572,657.16. This trade represents a 1.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kavitark Ram Shriram sold 15,000 shares of the company's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $2,786,400.00. Following the completion of the transaction, the director directly owned 240,400 shares of the company's stock, valued at approximately $44,656,704. This trade represents a 5.87% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 273,219 shares of company stock worth $49,474,273. 11.64% of the stock is currently owned by insiders.
Analyst Ratings Changes
A number of brokerages recently weighed in on GOOGL. DA Davidson boosted their price target on shares of Alphabet from $160.00 to $180.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. BMO Capital Markets lifted their price target on Alphabet from $208.00 to $225.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. KeyCorp upped their target price on shares of Alphabet from $215.00 to $230.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. UBS Group lifted their price target on Alphabet from $192.00 to $202.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Finally, Guggenheim upped 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, July 23rd. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat.com, Alphabet has a consensus rating of "Moderate Buy" and a consensus target price of $211.53.
Check Out Our Latest Analysis on GOOGL
Alphabet Stock Up 2.3%
Shares of GOOGL traded up $4.61 during trading hours on Friday, hitting $201.13. The company had a trading volume of 25,930,583 shares, compared to its average volume of 36,839,727. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. The firm has a fifty day moving average price of $180.26 and a 200-day moving average price of $173.13. The stock has a market capitalization of $2.43 trillion, a price-to-earnings ratio of 21.42, a P/E/G ratio of 1.33 and a beta of 1.01. 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 (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.15 by $0.16. The firm had revenue of $96,428,000 billion for the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. On average, equities research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.
Alphabet Dividend Announcement
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 given a dividend of $0.21 per share. The ex-dividend date of this dividend 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%.
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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