Root Financial Partners LLC raised its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 50.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,652 shares of the information services provider's stock after purchasing an additional 8,246 shares during the quarter. Alphabet comprises about 0.4% of Root Financial Partners LLC's investment portfolio, making the stock its 29th biggest position. Root Financial Partners LLC's holdings in Alphabet were worth $3,820,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently added to or reduced their stakes in the company. Addison Advisors LLC boosted its stake in Alphabet by 0.7% during the 4th quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider's stock valued at $1,425,000 after purchasing an additional 53 shares in the last quarter. Burt Wealth Advisors boosted its stake in Alphabet by 1.0% during the 4th quarter. Burt Wealth Advisors now owns 5,307 shares of the information services provider's stock valued at $1,005,000 after purchasing an additional 54 shares in the last quarter. Perritt Capital Management Inc boosted its stake in Alphabet by 10.4% during the 4th quarter. Perritt Capital Management Inc now owns 618 shares of the information services provider's stock valued at $117,000 after purchasing an additional 58 shares in the last quarter. Nia Impact Advisors LLC boosted its stake in Alphabet by 0.3% during the 4th quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider's stock valued at $3,249,000 after purchasing an additional 59 shares in the last quarter. Finally, Hanlon Investment Management Inc. boosted its stake in Alphabet by 1.7% during the 4th quarter. Hanlon Investment Management Inc. now owns 3,553 shares of the information services provider's stock valued at $673,000 after purchasing an additional 60 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.
Alphabet Stock Down 1.5%
Shares of NASDAQ GOOGL traded down $2.74 during mid-day trading on Monday, reaching $176.79. The company had a trading volume of 34,110,803 shares, compared to its average volume of 31,600,813. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. 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 stock has a market capitalization of $2.15 trillion, a PE ratio of 19.71, a price-to-earnings-growth ratio of 1.26 and a beta of 1.00. The stock's 50 day moving average is $169.03 and its 200-day moving average is $173.67.
Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly 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 business had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same period in the prior year, the business posted $1.89 earnings per share. As a group, equities analysts anticipate that Alphabet Inc. will post 8.9 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. Stockholders of record on Monday, June 9th were paid a $0.21 dividend. The ex-dividend date of this dividend was Monday, June 9th. This is an increase from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.48%. Alphabet's dividend payout ratio is 9.36%.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on GOOGL shares. Rosenblatt Securities reaffirmed a "neutral" rating and set a $189.00 price target on shares of Alphabet in a research note on Wednesday, May 21st. Piper Sandler increased their price target on Alphabet from $185.00 to $195.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Westpark Capital reiterated a "buy" rating and set a $210.00 price objective on shares of Alphabet in a research report on Thursday, May 8th. KeyCorp increased their price objective on Alphabet from $185.00 to $195.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. Finally, Wells Fargo & Company increased their price objective on Alphabet from $167.00 to $175.00 and gave the company an "equal weight" rating in a research report on Friday, April 25th. Ten equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, Alphabet presently has a consensus rating of "Moderate Buy" and an average price target of $199.95.
Check Out Our Latest Stock Analysis on GOOGL
Insider Transactions at Alphabet
In other news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $170.87, for a total value of $5,553,275.00. Following the transaction, the chief executive officer directly owned 2,620,196 shares of the company's stock, valued at approximately $447,712,890.52. This represents a 1.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the transaction, the director directly owned 261,966 shares in the company, valued at $45,844,050. The trade was a 3.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 215,643 shares of company stock valued at $36,330,928. 11.55% of the stock is owned by insiders.
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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