Rockline Wealth Management LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 14.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 56,469 shares of the information services provider's stock after acquiring an additional 6,959 shares during the period. Alphabet comprises 2.5% of Rockline Wealth Management LLC's holdings, making the stock its 8th biggest position. Rockline Wealth Management LLC's holdings in Alphabet were worth $8,822,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new position in Alphabet in the fourth quarter valued at approximately $5,166,070,000. GAMMA Investing LLC increased its holdings in shares of Alphabet by 18,562.3% during the 1st quarter. GAMMA Investing LLC now owns 14,323,323 shares of the information services provider's stock valued at $2,237,733,000 after purchasing an additional 14,246,573 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Alphabet in the 4th quarter valued at $1,551,533,000. Northern Trust Corp boosted its holdings in Alphabet by 16.1% during the fourth quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock worth $10,873,751,000 after buying an additional 7,917,625 shares in the last quarter. Finally, GQG Partners LLC grew its position in Alphabet by 181,679.1% during the fourth quarter. GQG Partners LLC now owns 7,225,721 shares of the information services provider's stock valued at $1,376,066,000 after buying an additional 7,221,746 shares during the period. Institutional investors and hedge funds own 27.26% of the company's stock.
Analysts Set New Price Targets
GOOG has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Alphabet from $180.00 to $195.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Oppenheimer lifted their price target on Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a research note on Friday, April 25th. Westpark Capital reiterated a "buy" rating and set a $210.00 price target on shares of Alphabet in a research report on Friday, April 25th. Citigroup reissued a "sell" rating on shares of Alphabet in a report on Wednesday, April 23rd. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and set a $220.00 target price on shares of Alphabet in a research note on Monday, June 2nd. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and five have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $204.88.
View Our Latest Analysis on GOOG
Insider Buying and Selling
In other Alphabet news, CAO Amie Thuener O'toole sold 673 shares of Alphabet stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total transaction of $104,537.09. Following the transaction, the chief accounting officer now directly owns 15,303 shares of the company's stock, valued at $2,377,014.99. The trade was a 4.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $176.68, for a total transaction of $5,742,100.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 228,070 shares of company stock worth $37,745,632. 12.99% of the stock is owned by corporate insiders.
Alphabet Price Performance
Shares of Alphabet stock traded down $6.25 during trading hours on Friday, reaching $167.73. 55,028,071 shares of the company's stock were exchanged, compared to its average volume of 20,577,235. The business has a fifty day moving average of $166.31 and a two-hundred day moving average of $176.39. The company has a market capitalization of $2.04 trillion, a P/E ratio of 18.70, a price-to-earnings-growth ratio of 1.18 and a beta of 1.01. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70.
Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The company had revenue of $90.23 billion during the quarter, compared to analysts' expectations of $89.30 billion. During the same quarter in the prior year, the company earned $1.89 EPS. Alphabet's revenue was up 12.0% compared to the same quarter last year. As a group, research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.
Alphabet Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend was Monday, June 9th. This is a boost from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio (DPR) is currently 9.36%.
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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