Rathbones Group PLC raised its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 1.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,068,290 shares of the information services provider's stock after buying an additional 25,533 shares during the period. Alphabet comprises about 1.6% of Rathbones Group PLC's investment portfolio, making the stock its 13th biggest holding. Rathbones Group PLC's holdings in Alphabet were worth $323,129,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently modified their holdings of the company. Principia Wealth Advisory LLC lifted its stake 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 valued at $26,000 after purchasing an additional 85 shares during the last quarter. MorganRosel Wealth Management LLC acquired a new position in Alphabet during the 1st quarter worth $26,000. LSV Asset Management acquired a new position in Alphabet during the 4th quarter worth $27,000. Goodman Advisory Group LLC acquired a new position in Alphabet during the 1st quarter worth $32,000. Finally, Greykasell Wealth Strategies Inc. acquired a new position in Alphabet during the 1st quarter worth $32,000. Institutional investors and hedge funds own 27.26% of the company's stock.
Alphabet Price Performance
Shares of GOOG stock traded up $0.79 during trading hours on Thursday, reaching $203.82. 17,605,944 shares of the company were exchanged, compared to its average volume of 24,009,111. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70. The stock's fifty day moving average is $183.93 and its two-hundred day moving average is $174.75. The company has a market cap of $2.46 trillion, a price-to-earnings ratio of 21.71, a P/E/G ratio of 1.36 and a beta of 1.02. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90.
Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.19. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. The business had revenue of $96.43 billion for the quarter, compared to analyst estimates of $93.67 billion. During the same period in the prior year, the business posted $1.89 earnings per share. Alphabet's revenue was up 13.8% compared to the same quarter last year. Sell-side analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.
Alphabet Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.4%. The ex-dividend date is Monday, September 8th. Alphabet's dividend payout ratio is currently 8.95%.
Insider Activity at Alphabet
In related news, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the transaction, the director directly owned 243,400 shares in the company, valued at $45,213,984. This represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the completion of the transaction, the chief executive officer owned 2,559,892 shares in the company, valued at $456,991,919.84. This represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 274,219 shares of company stock worth $49,674,273 over the last ninety days. Company insiders own 12.99% of the company's stock.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on GOOG shares. Citizens Jmp raised shares of Alphabet from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 26th. Pivotal Research boosted their target price on shares of Alphabet from $225.00 to $245.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Lake Street Capital reissued a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Needham & Company LLC lowered shares of Alphabet from a "buy" rating to a "cautious" rating in a research report on Friday, May 2nd. Finally, BNP Paribas lowered shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 26th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have given a buy rating and five have assigned a strong buy rating to the stock. According to data from MarketBeat, Alphabet has a consensus rating of "Moderate Buy" and a consensus target price of $215.19.
Check Out Our Latest Analysis on GOOG
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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