Spire Wealth Management cut its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 0.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 259,723 shares of the information services provider's stock after selling 1,507 shares during the quarter. Alphabet comprises about 1.3% of Spire Wealth Management's portfolio, making the stock its 11th biggest holding. Spire Wealth Management's holdings in Alphabet were worth $40,164,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in GOOGL. Wealth Group Ltd. lifted its position in shares of Alphabet by 5.2% during the 4th quarter. Wealth Group Ltd. now owns 1,582 shares of the information services provider's stock worth $299,000 after buying an additional 78 shares during the last quarter. Capital & Planning LLC increased its position in Alphabet by 34.3% during the 4th quarter. Capital & Planning LLC now owns 4,383 shares of the information services provider's stock valued at $830,000 after purchasing an additional 1,119 shares during the period. Eagle Capital Management LLC raised its stake in Alphabet by 0.7% during the fourth quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider's stock worth $9,490,000 after buying an additional 371 shares during the last quarter. Brighton Jones LLC increased its holdings in Alphabet by 3.9% in the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock worth $20,886,000 after purchasing an additional 4,110 shares in the last quarter. Finally, Union Bancaire Privee UBP SA bought a new position in Alphabet during the fourth quarter worth $154,716,000. 40.03% of the stock is owned by institutional investors.
Alphabet Trading Up 2.9%
Shares of NASDAQ:GOOGL opened at $178.53 on Monday. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. The stock's 50-day simple moving average is $166.45 and its two-hundred day simple moving average is $174.26. 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 $2.17 trillion, a price-to-earnings ratio of 19.90, a PEG ratio of 1.26 and a beta of 1.01.
Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results 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 return on equity of 34.54% and a net margin of 30.86%. The business had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. During the same quarter in the prior year, the business posted $1.89 EPS. Analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.
Alphabet Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were paid a $0.21 dividend. This is a boost from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date was Monday, June 9th. Alphabet's dividend payout ratio (DPR) is presently 9.36%.
Insider Buying and Selling
In other news, CAO Amie Thuener O'toole sold 673 shares of the firm's stock in a transaction that occurred on 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 directly owns 15,303 shares of the company's stock, valued at approximately $2,377,014.99. This trade represents a 4.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $176.68, for a total value of $5,742,100.00. Following the transaction, the chief executive officer now owns 2,555,196 shares in the company, valued at approximately $451,452,029.28. This represents a 1.26% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 216,195 shares of company stock worth $35,764,898 over the last three months. 11.55% of the stock is owned by insiders.
Wall Street Analyst Weigh In
A number of analysts have commented on the company. UBS Group set a $195.00 price objective on Alphabet in a report on Friday, April 25th. Morgan Stanley reduced their price target on shares of Alphabet from $210.00 to $185.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Wells Fargo & Company upped their price objective on Alphabet from $167.00 to $175.00 and gave the stock an "equal weight" rating in a report on Friday, April 25th. Bank of America boosted their target price on Alphabet from $185.00 to $200.00 and gave the company a "buy" rating in a research note on Friday, April 25th. Finally, Susquehanna cut their price objective on Alphabet from $225.00 to $220.00 and set a "positive" rating on the stock in a research report on Friday, April 25th. Ten investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Alphabet has a consensus rating of "Moderate Buy" and an average price target of $199.95.
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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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