SOA Wealth Advisors LLC. raised its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 65.6% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 60,970 shares of the information services provider's stock after purchasing an additional 24,148 shares during the period. Alphabet comprises approximately 1.1% of SOA Wealth Advisors LLC.'s portfolio, making the stock its 23rd biggest holding. SOA Wealth Advisors LLC.'s holdings in Alphabet were worth $9,428,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of Alphabet during the 4th quarter worth about $24,383,677,000. FMR LLC boosted its holdings in Alphabet by 9.8% in the fourth quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock valued at $47,025,322,000 after acquiring an additional 22,100,902 shares during the last quarter. GAMMA Investing LLC grew its position in Alphabet by 16,993.2% during the first quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider's stock valued at $2,483,898,000 after acquiring an additional 15,968,487 shares during the period. Northern Trust Corp increased its stake in Alphabet by 17.0% during the fourth quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock worth $13,178,470,000 after acquiring an additional 10,135,430 shares during the last quarter. Finally, Capital Research Global Investors raised its holdings in shares of Alphabet by 16.2% in the 4th quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock worth $13,635,878,000 after purchasing an additional 10,037,685 shares during the period. Hedge funds and other institutional investors own 40.03% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on the stock. Jefferies Financial Group decreased 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. Westpark Capital restated a "buy" rating and set a $210.00 price objective on shares of Alphabet in a research note on Thursday, May 8th. Needham & Company LLC reiterated a "buy" rating and issued a $178.00 target price on shares of Alphabet in a research note on Friday, April 25th. KeyCorp boosted their price target on Alphabet from $185.00 to $195.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Finally, Citigroup increased their price objective on shares of Alphabet from $195.00 to $200.00 and gave the company a "buy" rating in a research report on Friday, April 25th. Ten investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $199.75.
Read Our Latest Analysis on Alphabet
Alphabet Stock Down 0.9%
GOOGL stock traded down $1.65 during trading hours on Thursday, hitting $175.70. The company's stock had a trading volume of 20,879,613 shares, compared to its average volume of 30,353,966. The stock has a 50 day moving average price of $161.71 and a two-hundred day moving average price of $174.51. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05. The company has a market capitalization of $2.13 trillion, a PE ratio of 21.83, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released 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. The business had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. During the same quarter in the previous year, the business earned $1.89 EPS. On average, equities research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.
Alphabet Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.48%. This is a boost from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio is presently 9.36%.
Insider Buying and Selling at Alphabet
In other news, CAO Amie Thuener O'toole sold 673 shares of the business's 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 owns 15,303 shares in the company, valued at approximately $2,377,014.99. The trade was a 4.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John Kent Walker sold 11,764 shares of the stock in a transaction dated 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 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.
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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