Transcend Capital Advisors LLC grew its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 17.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 63,325 shares of the information services provider's stock after purchasing an additional 9,549 shares during the quarter. Transcend Capital Advisors LLC's holdings in Alphabet were worth $9,793,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new position in Alphabet in the fourth quarter worth approximately $24,383,677,000. FMR LLC boosted its stake in shares of Alphabet by 9.8% during the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock worth $47,025,322,000 after acquiring an additional 22,100,902 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Alphabet by 16,993.2% in the 1st quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider's stock worth $2,483,898,000 after acquiring an additional 15,968,487 shares during the last quarter. Northern Trust Corp raised its position in shares of 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 purchasing an additional 10,135,430 shares during the period. Finally, Capital Research Global Investors lifted its holdings in shares of Alphabet by 16.2% during the fourth quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock valued at $13,635,878,000 after purchasing an additional 10,037,685 shares during the last quarter. Institutional investors own 40.03% of the company's stock.
Alphabet Stock Performance
Shares of NASDAQ:GOOGL traded up $0.44 during trading on Thursday, reaching $179.08. The stock had a trading volume of 21,689,729 shares, compared to its average volume of 31,462,867. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. The stock has a fifty day simple moving average of $167.96 and a two-hundred day simple moving average of $174.20. The firm has a market capitalization of $2.17 trillion, a price-to-earnings ratio of 19.96, a P/E/G ratio of 1.24 and a beta of 1.00. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05.
Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its earnings results 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. The firm had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. During the same quarter in the prior year, the company earned $1.89 EPS. As a group, analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
Alphabet Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, June 9th. This is a positive change 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%. Alphabet's payout ratio is 9.36%.
Insider Activity
In other Alphabet news, Director John L. Hennessy sold 600 shares of the stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $105,000.00. Following the completion of the sale, the director directly owned 6,813 shares of the company's stock, valued at $1,192,275. This represents a 8.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $176.68, for a total transaction of $5,742,100.00. Following the transaction, the chief executive officer owned 2,555,196 shares in the company, valued at approximately $451,452,029.28. The trade was a 1.26% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 183,143 shares of company stock valued at $30,529,028. 11.64% of the stock is owned by company insiders.
Analysts Set New Price Targets
A number of equities analysts recently weighed in on GOOGL shares. Mizuho dropped their price target on Alphabet from $230.00 to $205.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Roth Mkm reissued a "buy" rating and issued a $220.00 target price on shares of Alphabet in a research report on Wednesday, March 19th. Truist Financial restated a "buy" rating and set a $200.00 price target on shares of Alphabet in a report on Wednesday. Sanford C. Bernstein raised their price objective on shares of Alphabet from $165.00 to $185.00 and gave the stock a "market perform" rating in a research note on Friday, April 25th. Finally, Citizens Jmp raised shares of Alphabet from a "market perform" rating to an "outperform" rating and set a $220.00 target price on the stock in a research note on Friday, June 27th. Ten analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $199.95.
Check Out Our Latest Stock Report on GOOGL
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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