Shepherd Financial Partners LLC boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 21.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,495 shares of the information services provider's stock after acquiring an additional 6,904 shares during the period. Shepherd Financial Partners LLC's holdings in Alphabet were worth $5,953,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the company. Rockbridge Capital Management LLC acquired a new stake in Alphabet in the 4th quarter worth $3,119,000. Optivise Advisory Services LLC lifted its stake in shares of Alphabet by 8.0% in the fourth quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider's stock valued at $1,035,000 after buying an additional 403 shares during the period. Community Bank N.A. lifted its stake in shares of Alphabet by 6.4% in the fourth quarter. Community Bank N.A. now owns 46,173 shares of the information services provider's stock valued at $8,741,000 after buying an additional 2,790 shares during the period. Premier Fund Managers Ltd grew its position in Alphabet by 30.0% during the fourth quarter. Premier Fund Managers Ltd now owns 61,792 shares of the information services provider's stock worth $11,816,000 after buying an additional 14,262 shares in the last quarter. Finally, Absolute Capital Management LLC increased its stake in Alphabet by 14.0% during the fourth quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider's stock valued at $401,000 after acquiring an additional 258 shares during the period. 40.03% of the stock is currently owned by institutional investors.
Alphabet Price Performance
Shares of GOOGL stock traded down $6.68 during trading hours on Friday, reaching $166.64. 75,073,701 shares of the company were exchanged, compared to its average volume of 30,656,064. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. The stock's fifty day moving average is $164.58 and its two-hundred day moving average is $174.75. The company has a market cap of $2.02 trillion, a price-to-earnings ratio of 18.58, a P/E/G ratio of 1.11 and a beta of 1.01.
Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.79. The firm had revenue of $76.49 billion for the quarter, compared to the consensus estimate 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 EPS. Sell-side analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
Alphabet Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were paid a dividend of $0.21 per share. 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 positive change from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio is 9.36%.
Insider Activity at Alphabet
In other Alphabet news, insider John Kent Walker sold 11,764 shares of Alphabet stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the completion of the sale, the insider now owns 49,037 shares of the company's stock, valued at approximately $8,181,333.08. The trade was a 19.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $168.71, for a total value of $5,483,075.00. Following the completion of the transaction, the chief executive officer now directly owns 2,587,696 shares in the company, valued at approximately $436,570,192.16. This trade represents a 1.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 195,570 shares of company stock worth $32,003,532 over the last 90 days. Insiders own 11.64% of the company's stock.
Analyst Ratings Changes
A number of analysts have commented on GOOGL shares. Morgan Stanley reduced their price objective on Alphabet from $210.00 to $185.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Needham & Company LLC restated a "buy" rating and issued a $178.00 target price on shares of Alphabet in a research note on Friday, April 25th. Roth Mkm reaffirmed a "buy" rating and issued a $220.00 target price on shares of Alphabet in a research report on Wednesday, March 19th. Tigress Financial boosted their price target on shares of Alphabet from $220.00 to $240.00 and gave the company a "strong-buy" rating in a report on Wednesday, April 30th. Finally, Jefferies Financial Group dropped their price objective on shares of Alphabet from $235.00 to $200.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Ten equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $199.75.
Check Out Our Latest Analysis on GOOGL
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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