Twin Capital Management Inc. decreased its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 10.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,819 shares of the information services provider's stock after selling 2,237 shares during the period. Twin Capital Management Inc.'s holdings in Alphabet were worth $3,096,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in GOOG. ARQ Wealth Advisors LLC boosted its position in Alphabet by 39.3% during the 4th quarter. ARQ Wealth Advisors LLC now owns 4,964 shares of the information services provider's stock valued at $945,000 after buying an additional 1,400 shares during the period. Independence Bank of Kentucky lifted its position in shares of Alphabet by 10.2% in the 1st quarter. Independence Bank of Kentucky now owns 14,907 shares of the information services provider's stock worth $2,329,000 after purchasing an additional 1,376 shares during the period. Harvest Investment Services LLC lifted its position in shares of Alphabet by 3.3% in the 4th quarter. Harvest Investment Services LLC now owns 4,329 shares of the information services provider's stock worth $824,000 after purchasing an additional 138 shares during the period. Fermata Advisors LLC lifted its position in shares of Alphabet by 2.7% in the 1st quarter. Fermata Advisors LLC now owns 9,771 shares of the information services provider's stock worth $1,527,000 after purchasing an additional 259 shares during the period. Finally, jvl associates llc lifted its position in shares of Alphabet by 3.5% in the 1st quarter. jvl associates llc now owns 10,055 shares of the information services provider's stock worth $1,571,000 after purchasing an additional 343 shares during the period. Institutional investors own 27.26% of the company's stock.
Insider Activity
In other news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $184.38, for a total value of $5,992,350.00. Following the sale, the chief executive officer directly owned 2,527,392 shares in the company, valued at approximately $466,000,536.96. This trade represents a 1.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 400 shares of the stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $181.98, for a total transaction of $72,792.00. Following the completion of the transaction, the director directly owned 6,013 shares of the company's stock, valued at $1,094,245.74. The trade was a 6.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 215,843 shares of company stock worth $37,288,490. Corporate insiders own 12.99% of the company's stock.
Alphabet Price Performance
Alphabet stock opened at $185.94 on Friday. The company has a market cap of $2.26 trillion, a price-to-earnings ratio of 20.73, a PEG ratio of 1.29 and a beta of 1.01. The firm's fifty day moving average is $174.02 and its 200 day moving average is $174.61. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $208.70.
Alphabet (NASDAQ:GOOG - Get Free Report) last released its earnings results 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. The firm had revenue of $90.23 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The business's revenue was up 12.0% on a year-over-year basis. During the same quarter last year, the business earned $1.89 EPS. Sell-side analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.
Alphabet Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.45%. This is a boost from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 9th. Alphabet's dividend payout ratio is presently 9.36%.
Analysts Set New Price Targets
Several research analysts recently issued reports on GOOG shares. Cowen reiterated a "buy" rating on shares of Alphabet in a research note on Wednesday, July 9th. Susquehanna restated a "positive" rating on shares of Alphabet in a research note on Friday, May 2nd. Westpark Capital restated a "buy" rating and set a $210.00 price objective on shares of Alphabet in a research note on Friday, April 25th. Cantor Fitzgerald restated a "neutral" rating and set a $171.00 price objective on shares of Alphabet in a research note on Friday, April 25th. Finally, BNP Paribas lowered shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, June 26th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $208.40.
View Our Latest Stock Analysis 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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