Riverbridge Partners LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 1.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 257,938 shares of the information services provider's stock after purchasing an additional 3,897 shares during the quarter. Riverbridge Partners LLC's holdings in Alphabet were worth $40,298,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently modified their holdings of GOOG. Cassaday & Co Wealth Management LLC raised its stake in shares of Alphabet by 9.3% in the fourth quarter. Cassaday & Co Wealth Management LLC now owns 28,044 shares of the information services provider's stock worth $5,341,000 after purchasing an additional 2,390 shares during the last quarter. LaFleur & Godfrey LLC grew its stake in shares of Alphabet by 1.2% during the 4th quarter. LaFleur & Godfrey LLC now owns 31,967 shares of the information services provider's stock valued at $6,088,000 after purchasing an additional 380 shares during the period. Brighton Jones LLC increased its position in shares of Alphabet by 5.6% during the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider's stock valued at $22,901,000 after purchasing an additional 6,410 shares during the last quarter. Union Bancaire Privee UBP SA bought a new position in shares of Alphabet in the 4th quarter worth approximately $204,262,000. Finally, Ascent Wealth Partners LLC lifted its stake in shares of Alphabet by 246.2% in the 4th quarter. Ascent Wealth Partners LLC now owns 5,698 shares of the information services provider's stock worth $1,085,000 after purchasing an additional 4,052 shares during the period. Hedge funds and other institutional investors own 27.26% of the company's stock.
Analysts Set New Price Targets
Several brokerages recently issued reports on GOOG. KeyCorp cut their target price on shares of Alphabet from $202.00 to $185.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Scotiabank dropped their price target on shares of Alphabet from $232.00 to $200.00 and set a "sector outperform" rating on the stock in a research note on Monday, April 21st. Rosenblatt Securities upgraded Alphabet from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 25th. Susquehanna reaffirmed a "positive" rating on shares of Alphabet in a report on Friday, May 2nd. Finally, The Goldman Sachs Group reissued a "buy" rating and set a $220.00 price target on shares of Alphabet in a report on Monday, June 2nd. Three research analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and five have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $204.88.
Check Out Our Latest Research Report on GOOG
Alphabet Price Performance
Shares of NASDAQ:GOOG opened at $173.98 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. The firm has a fifty day moving average price of $166.15 and a 200 day moving average price of $176.43. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70. The firm has a market cap of $2.11 trillion, a price-to-earnings ratio of 19.40, a P/E/G ratio of 1.23 and a beta of 1.01.
Alphabet (NASDAQ:GOOG - Get Free Report) last issued its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The firm had revenue of $90.23 billion during the quarter, compared to analyst estimates of $89.30 billion. During the same quarter in the prior year, the business earned $1.89 earnings per share. Alphabet's revenue for the quarter was up 12.0% on a year-over-year basis. As a group, sell-side analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.
Alphabet Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were given a dividend of $0.21 per share. This is a positive change from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.48%. Alphabet's dividend payout ratio is currently 9.36%.
Insider Buying and Selling
In related news, CAO Amie Thuener O'toole sold 673 shares of the company's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total transaction of $104,537.09. Following the sale, the chief accounting officer now owns 15,303 shares of the company's stock, valued at $2,377,014.99. This represents a 4.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the sale, the chief executive officer now directly owns 2,717,696 shares in the company, 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. Over the last quarter, insiders sold 195,570 shares of company stock worth $32,003,532. 12.99% of the stock is owned by insiders.
Alphabet Company Profile
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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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