Teachers Retirement System of The State of Kentucky raised its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 0.3% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 596,393 shares of the information services provider's stock after acquiring an additional 1,939 shares during the period. Alphabet makes up approximately 0.8% of Teachers Retirement System of The State of Kentucky's holdings, making the stock its 13th biggest position. Teachers Retirement System of The State of Kentucky's holdings in Alphabet were worth $93,175,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Concentrum Wealth Management boosted its position in shares of Alphabet by 0.3% in the 4th quarter. Concentrum Wealth Management now owns 17,328 shares of the information services provider's stock valued at $3,300,000 after purchasing an additional 57 shares during the period. JDM Financial Group LLC boosted its position in shares of Alphabet by 10.6% in the 4th quarter. JDM Financial Group LLC now owns 593 shares of the information services provider's stock valued at $113,000 after purchasing an additional 57 shares during the period. Kidder Stephen W boosted its position in shares of Alphabet by 1.6% in the 4th quarter. Kidder Stephen W now owns 3,608 shares of the information services provider's stock valued at $687,000 after purchasing an additional 58 shares during the period. Hill Island Financial LLC boosted its position in shares of Alphabet by 0.8% in the 4th quarter. Hill Island Financial LLC now owns 7,776 shares of the information services provider's stock valued at $1,481,000 after purchasing an additional 59 shares during the period. Finally, Providence Wealth Advisors LLC boosted its position in shares of Alphabet by 0.6% in the 4th quarter. Providence Wealth Advisors LLC now owns 10,102 shares of the information services provider's stock valued at $1,992,000 after purchasing an additional 60 shares during the period. Hedge funds and other institutional investors own 27.26% of the company's stock.
Alphabet Stock Performance
NASDAQ GOOG opened at $185.94 on Friday. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70. The company has a market capitalization of $2.26 trillion, a P/E ratio of 20.73, a PEG ratio of 1.29 and a beta of 1.01. The business has a 50 day moving average price of $174.02 and a 200 day moving average price of $174.61. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77.
Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The firm had revenue of $90.23 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same period last year, the business posted $1.89 EPS. Alphabet's quarterly revenue was up 12.0% on a year-over-year basis. Sell-side analysts expect that Alphabet Inc. will post 8.89 EPS for the current fiscal year.
Alphabet Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were paid a $0.21 dividend. This is an increase from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend was Monday, June 9th. Alphabet's dividend payout ratio (DPR) is presently 9.36%.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on the company. Cowen reissued a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $220.00 price objective on shares of Alphabet in a research report on Monday, June 2nd. Barclays reaffirmed a "buy" rating on shares of Alphabet in a research report on Wednesday, July 9th. Susquehanna reaffirmed a "positive" rating on shares of Alphabet in a research report on Friday, May 2nd. Finally, Piper Sandler reaffirmed a "neutral" rating on shares of Alphabet in a research report on Wednesday, July 9th. Three analysts have rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and five have given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $208.40.
Check Out Our Latest Stock Analysis on Alphabet
Insider Activity at Alphabet
In other Alphabet news, Director John L. Hennessy sold 600 shares of the firm'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 $105,000.00. Following the completion of the transaction, the director owned 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 filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total value of $5,992,350.00. Following the transaction, the chief executive officer directly owned 2,527,392 shares of the company's stock, valued at $466,000,536.96. The trade was a 1.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold 215,843 shares of company stock valued at $37,288,490 in the last ninety days. Corporate insiders own 12.99% of the company's stock.
Alphabet Company Profile
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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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