Robeco Institutional Asset Management B.V. increased its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 1.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,043,792 shares of the information services provider's stock after acquiring an additional 29,866 shares during the period. Robeco Institutional Asset Management B.V.'s holdings in Alphabet were worth $319,302,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Sequoia Financial Advisors LLC raised its stake in shares of Alphabet by 2.5% during the 1st quarter. Sequoia Financial Advisors LLC now owns 553,827 shares of the information services provider's stock worth $86,524,000 after purchasing an additional 13,734 shares during the period. Terra Nova Asset Management LLC raised its position in Alphabet by 28.5% in the first quarter. Terra Nova Asset Management LLC now owns 4,039 shares of the information services provider's stock worth $631,000 after acquiring an additional 897 shares during the period. Pure Financial Advisors LLC raised its position in Alphabet by 6.4% in the first quarter. Pure Financial Advisors LLC now owns 25,420 shares of the information services provider's stock worth $3,971,000 after acquiring an additional 1,532 shares during the period. SOL Capital Management CO grew its position in shares of Alphabet by 1.8% during the 1st quarter. SOL Capital Management CO now owns 15,349 shares of the information services provider's stock valued at $2,398,000 after acquiring an additional 270 shares during the period. Finally, TigerOak Management L.L.C. grew its position in shares of Alphabet by 0.8% during the 1st quarter. TigerOak Management L.L.C. now owns 20,068 shares of the information services provider's stock valued at $3,135,000 after acquiring an additional 150 shares during the period. 27.26% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on the stock. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $171.00 price target on shares of Alphabet in a report on Friday, April 25th. Needham & Company LLC cut Alphabet from a "buy" rating to a "cautious" rating in a research report on Friday, May 2nd. Tigress Financial reiterated a "strong-buy" rating on shares of Alphabet in a research note on Friday, May 2nd. Scotiabank dropped their price objective on shares of Alphabet from $232.00 to $200.00 and set a "sector outperform" rating on the stock in a report on Monday, April 21st. Finally, 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. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have issued a buy rating and five have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $204.88.
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Alphabet Trading Up 1.7%
Shares of GOOG stock opened at $174.43 on Friday. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70. The company's 50-day moving average price is $167.33 and its 200-day moving average price is $176.22. The stock has a market cap of $2.12 trillion, a price-to-earnings ratio of 19.45, a PEG ratio of 1.21 and a beta of 1.01.
Alphabet (NASDAQ:GOOG - Get Free Report) last posted its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.79. The company had revenue of $90.23 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. Alphabet's revenue was up 12.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.89 EPS. As a group, equities analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.
Alphabet Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were given a $0.21 dividend. This is an increase from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend was Monday, June 9th. Alphabet's payout ratio is currently 9.36%.
Insiders Place Their Bets
In related news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $176.68, for a total transaction of $5,742,100.00. Following the completion of the sale, the chief executive officer now owns 2,555,196 shares in the company, valued at $451,452,029.28. The trade was a 1.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O'toole sold 673 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now owns 15,303 shares in the company, valued at $2,377,014.99. This represents a 4.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 216,195 shares of company stock worth $35,764,898 over the last three months. Company insiders own 12.99% of the company's stock.
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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