Alphabet Inc. (NASDAQ:GOOGL) is Selway Asset Management's 5th Largest Position

Selway Asset Management lifted its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.7% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 58,649 shares of the information services provider's stock after purchasing an additional 1,540 shares during the period. Alphabet comprises approximately 3.7% of Selway Asset Management's portfolio, making the stock its 5th biggest holding. Selway Asset Management's holdings in Alphabet were worth $9,069,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Compass Planning Associates Inc bought a new position in shares of Alphabet during the fourth quarter valued at approximately $30,000. Fiduciary Advisors Inc. bought a new position in Alphabet in the 4th quarter worth $39,000. PayPay Securities Corp lifted its position in shares of Alphabet by 36.1% in the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider's stock worth $46,000 after purchasing an additional 65 shares during the period. Anderson Financial Strategies LLC bought a new stake in shares of Alphabet during the 4th quarter valued at about $49,000. Finally, Navigoe LLC purchased a new position in shares of Alphabet during the fourth quarter valued at about $51,000. Institutional investors own 40.03% of the company's stock.

Alphabet Stock Performance

Alphabet stock traded up $1.87 during midday trading on Wednesday, hitting $168.05. The stock had a trading volume of 26,849,749 shares, compared to its average volume of 30,042,469. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. The company has a market capitalization of $2.04 trillion, a PE ratio of 20.88, a P/E/G ratio of 1.34 and a beta of 1.01. The firm's fifty day moving average is $159.26 and its two-hundred day moving average is $174.47. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL - 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, topping analysts' consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The firm had revenue of $76.49 billion during the quarter, compared to analysts' expectations of $89.30 billion. During the same period in the prior year, the company posted $1.89 earnings per share. On average, research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend is Monday, June 9th. This is an increase from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio (DPR) is 9.36%.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 600 shares of the firm's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $105,000.00. Following the completion of the transaction, the director now directly owns 6,813 shares of the company's stock, valued at approximately $1,192,275. This trade represents a 8.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the business's 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 completion of the sale, the director now owns 261,966 shares in the company, valued at $45,844,050. This represents a 3.85% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 163,270 shares of company stock valued at $26,553,563. Corporate insiders own 11.64% of the company's stock.

Analyst Ratings Changes

GOOGL has been the subject of several research analyst reports. Cantor Fitzgerald lowered their price objective on shares of Alphabet from $200.00 to $159.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th. BMO Capital Markets restated an "outperform" rating and issued a $200.00 target price (down previously from $230.00) on shares of Alphabet in a research note on Thursday, April 17th. Rosenblatt Securities restated a "neutral" rating and set a $189.00 price target on shares of Alphabet in a research report on Wednesday, May 21st. Truist Financial decreased their price objective on Alphabet from $220.00 to $200.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Finally, Westpark Capital restated a "buy" rating and set a $210.00 target price on shares of Alphabet in a report on Thursday, May 8th. Ten analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $199.75.

Alphabet Profile

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.