Tobam Purchases 2,264 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Tobam raised its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 19.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,684 shares of the information services provider's stock after acquiring an additional 2,264 shares during the quarter. Tobam's holdings in Alphabet were worth $2,116,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of GOOGL. Wealth Group Ltd. raised its holdings in 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 period. Capital & Planning LLC raised its holdings in Alphabet by 34.3% during the 4th quarter. Capital & Planning LLC now owns 4,383 shares of the information services provider's stock worth $830,000 after buying an additional 1,119 shares during the period. Eagle Capital Management LLC raised its holdings in Alphabet by 0.7% during the 4th 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 period. Brighton Jones LLC raised its holdings in Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock worth $20,886,000 after buying an additional 4,110 shares during the period. Finally, Union Bancaire Privee UBP SA acquired a new stake in Alphabet during the 4th quarter worth about $154,716,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Amie Thuener O'toole sold 673 shares of the firm's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total value of $104,537.09. Following the completion of the sale, the chief accounting officer now directly owns 15,303 shares in the company, 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 filing with the SEC, which is available through this link. Also, insider John Kent Walker sold 11,764 shares of the firm's stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $166.84, for a total value 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. This trade represents a 19.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 195,570 shares of company stock worth $32,003,532 over the last three months. 11.64% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. JMP Securities restated a "market perform" rating on shares of Alphabet in a report on Wednesday, May 21st. UBS Group set a $195.00 target price on Alphabet in a report on Friday, April 25th. Wedbush set a $190.00 target price on Alphabet and gave the company an "outperform" rating in a report on Tuesday, April 15th. Needham & Company LLC reiterated a "buy" rating and issued a $178.00 target price on shares of Alphabet in a report on Friday, April 25th. Finally, Sanford C. Bernstein boosted their price target on Alphabet from $165.00 to $185.00 and gave the company a "market perform" rating in a research note on Friday, April 25th. Ten equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $199.75.

Alphabet Stock Performance

Shares of NASDAQ GOOGL traded down $1.03 during trading hours on Friday, reaching $174.67. The stock had a trading volume of 27,636,835 shares, compared to its average volume of 30,440,616. The business's fifty day moving average is $162.89 and its two-hundred day moving average is $174.64. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The company has a market cap of $2.12 trillion, a price-to-earnings ratio of 21.70, a PEG ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05.

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, topping the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The firm had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. During the same period in the prior year, the company posted $1.89 earnings per share. As a group, research analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be paid a dividend of $0.21 per share. This is a positive change from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend is Monday, June 9th. Alphabet's dividend payout ratio is currently 9.36%.

Alphabet Company Profile

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.