Revolve Wealth Partners LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 11.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,663 shares of the information services provider's stock after purchasing an additional 1,733 shares during the period. Revolve Wealth Partners LLC's holdings in Alphabet were worth $2,577,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the business. Compass Planning Associates Inc purchased a new stake in shares of Alphabet in the 4th quarter worth approximately $30,000. Fiduciary Advisors Inc. bought a new position in shares of Alphabet during the 4th quarter valued at $39,000. PayPay Securities Corp lifted its holdings in shares of Alphabet by 36.1% during the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider's stock valued at $46,000 after buying an additional 65 shares during the period. Anderson Financial Strategies LLC bought a new position in shares of Alphabet during the 4th quarter valued at $49,000. Finally, Navigoe LLC bought a new position in Alphabet in the 4th quarter worth $51,000. Hedge funds and other institutional investors own 40.03% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on GOOGL. Westpark Capital reiterated a "buy" rating and issued a $210.00 price target on shares of Alphabet in a research note on Thursday, May 8th. Royal Bank of Canada reissued an "outperform" rating and set a $200.00 price objective on shares of Alphabet in a research note on Wednesday, April 23rd. Citigroup boosted their price objective on Alphabet from $195.00 to $200.00 and gave the stock a "buy" rating in a research note on Friday, April 25th. Stifel Nicolaus dropped their target price on Alphabet from $225.00 to $192.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Finally, BMO Capital Markets reiterated an "outperform" rating and issued a $200.00 price target (down previously from $230.00) on shares of Alphabet in a report on Thursday, April 17th. Ten investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $199.75.
Read Our Latest Analysis on Alphabet
Insider Transactions at Alphabet
In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $168.71, for a total value of $5,483,075.00. Following the sale, the chief executive officer now directly owns 2,587,696 shares in the company, valued at $436,570,192.16. This trade represents a 1.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John L. Hennessy sold 200 shares of the business's stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total transaction of $33,106.00. Following the completion of the sale, the director now directly owns 7,813 shares in the company, valued at approximately $1,293,285.89. This represents a 2.50% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 195,770 shares of company stock valued at $32,036,638. 11.64% of the stock is owned by insiders.
Alphabet Stock Performance
GOOGL stock opened at $173.68 on Friday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $2.11 trillion, a price-to-earnings ratio of 21.58, a P/E/G ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05. The firm has a 50 day moving average of $160.14 and a two-hundred day moving average of $174.34.
Alphabet (NASDAQ:GOOGL - 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 net margin of 28.60% and a return on equity of 32.49%. The business had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same period in the prior year, the firm earned $1.89 EPS. As a group, equities analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.
Alphabet Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be issued a $0.21 dividend. This is a positive change from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.48%. Alphabet's dividend payout ratio is presently 9.36%.
Alphabet Company 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.
Further Reading
Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Alphabet, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Alphabet wasn't on the list.
While Alphabet currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Market downturns give many investors pause, and for good reason. Wondering how to offset this risk? Enter your email address to learn more about using beta to protect your portfolio.
Get This Free Report
