Rogco LP cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 14.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,602 shares of the information services provider's stock after selling 2,117 shares during the period. Alphabet comprises about 0.8% of Rogco LP's investment portfolio, making the stock its 21st biggest position. Rogco LP's holdings in Alphabet were worth $1,949,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Wealth Group Ltd. lifted its position in shares of Alphabet by 5.2% in the fourth quarter. Wealth Group Ltd. now owns 1,582 shares of the information services provider's stock valued at $299,000 after acquiring an additional 78 shares in the last quarter. Eagle Capital Management LLC lifted its position in shares of Alphabet by 0.7% in the fourth quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider's stock valued at $9,490,000 after acquiring an additional 371 shares in the last quarter. Brighton Jones LLC lifted its position in shares of Alphabet by 3.9% in the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock valued at $20,886,000 after acquiring an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC lifted its position in shares of Alphabet by 3.5% in the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock valued at $2,826,000 after acquiring an additional 506 shares in the last quarter. Finally, Highview Capital Management LLC DE lifted its position in shares of Alphabet by 3.6% in the fourth quarter. Highview Capital Management LLC DE now owns 29,100 shares of the information services provider's stock valued at $5,509,000 after acquiring an additional 1,003 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the completion of the sale, the chief executive officer owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. This represents a 1.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 9,000 shares of the stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $1,575,000.00. Following the sale, the director owned 255,400 shares of the company's stock, valued at approximately $44,695,000. This represents a 3.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 183,343 shares of company stock worth $31,296,140 over the last 90 days. Company insiders own 11.64% of the company's stock.
Alphabet Stock Up 0.5%
Alphabet stock opened at $182.97 on Thursday. The business has a fifty day moving average of $171.67 and a two-hundred day moving average of $173.20. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. The firm has a market cap of $2.22 trillion, a P/E ratio of 20.40, a P/E/G ratio of 1.28 and a beta of 1.00. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05.
Alphabet (NASDAQ:GOOGL - 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, topping analysts' consensus estimates of $2.02 by $0.79. The company had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. During the same quarter in the prior year, the business earned $1.89 earnings per share. On average, analysts forecast that Alphabet Inc. will post 8.9 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. Shareholders of record on Monday, June 9th were issued a dividend of $0.21 per share. The ex-dividend date was Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.46%. This is a positive change from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio is currently 9.36%.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently issued reports on GOOGL shares. Cantor Fitzgerald lifted their target price on Alphabet from $171.00 to $196.00 and gave the stock a "neutral" rating in a report on Wednesday. Tigress Financial lifted their target price on Alphabet from $220.00 to $240.00 and gave the stock a "strong-buy" rating in a report on Wednesday, April 30th. DA Davidson reduced their price objective on Alphabet from $200.00 to $160.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Morgan Stanley reduced their price objective on Alphabet from $210.00 to $185.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Finally, Truist Financial reissued a "buy" rating and set a $200.00 price objective on shares of Alphabet in a research note on Wednesday, July 2nd. Ten investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $200.86.
Read Our Latest Stock Analysis on Alphabet
Alphabet 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.
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