Strs Ohio acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,366,468 shares of the information services provider's stock, valued at approximately $369,713,000. Alphabet accounts for 1.5% of Strs Ohio's holdings, making the stock its 6th biggest holding.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Principia Wealth Advisory LLC lifted its holdings in shares of Alphabet by 111.8% during the 1st quarter. Principia Wealth Advisory LLC now owns 161 shares of the information services provider's stock valued at $26,000 after purchasing an additional 85 shares in the last quarter. MorganRosel Wealth Management LLC acquired a new stake in Alphabet during the 1st quarter worth approximately $26,000. Greykasell Wealth Strategies Inc. bought a new position in Alphabet in the first quarter valued at approximately $32,000. Goodman Advisory Group LLC acquired a new position in shares of Alphabet in the first quarter valued at approximately $32,000. Finally, Elevate Wealth Advisory Inc. acquired a new position in shares of Alphabet in the first quarter valued at approximately $34,000. 27.26% of the stock is currently owned by institutional investors.
Insider Transactions at Alphabet
In related news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $199.92, for a total transaction of $6,497,400.00. Following the transaction, the chief executive officer directly owned 2,462,392 shares of the company's stock, valued at approximately $492,281,408.64. This trade represents a 1.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of the business's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the sale, the director directly owned 243,400 shares of the company's stock, valued at $45,213,984. This represents a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 254,710 shares of company stock worth $49,208,380 over the last three months. Company insiders own 12.99% of the company's stock.
Alphabet Stock Performance
NASDAQ GOOG traded up $0.60 during trading on Friday, reaching $241.38. 14,519,054 shares of the company's stock were exchanged, compared to its average volume of 22,624,780. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The business has a 50 day moving average price of $202.67 and a 200-day moving average price of $178.83. The stock has a market capitalization of $2.92 trillion, a P/E ratio of 25.71, a PEG ratio of 1.62 and a beta of 1.01. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $242.57.
Alphabet (NASDAQ:GOOG - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping the consensus estimate of $2.12 by $0.19. Alphabet had a return on equity of 34.31% and a net margin of 31.12%.The company had revenue of $96.43 billion during the quarter, compared to the consensus estimate of $93.67 billion. During the same period in the previous year, the company posted $1.89 EPS. The firm's revenue for the quarter was up 13.8% compared to the same quarter last year. Sell-side analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.
Alphabet Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Monday, September 8th. Alphabet's payout ratio is currently 8.95%.
Analyst Ratings Changes
GOOG has been the topic of a number of research analyst reports. Raymond James Financial restated an "outperform" rating and set a $210.00 price objective (up from $185.00) on shares of Alphabet in a report on Thursday, July 24th. Lake Street Capital reissued a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Piper Sandler reaffirmed a "neutral" rating on shares of Alphabet in a research report on Wednesday, July 9th. Wells Fargo & Company reiterated an "equal weight" rating on shares of Alphabet in a report on Wednesday, July 9th. Finally, Phillip Securities cut Alphabet from a "strong-buy" rating to a "moderate buy" rating in a research note on Monday. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, five have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $227.56.
Check Out Our Latest Stock Report on Alphabet
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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