Udine Wealth Management Inc. grew its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 4.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 59,532 shares of the information services provider's stock after purchasing an additional 2,608 shares during the period. Alphabet comprises approximately 6.2% of Udine Wealth Management Inc.'s holdings, making the stock its 5th biggest holding. Udine Wealth Management Inc.'s holdings in Alphabet were worth $9,206,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Alphabet in the fourth quarter valued at about $5,166,070,000. GAMMA Investing LLC raised its holdings in shares of Alphabet by 18,562.3% in the first quarter. GAMMA Investing LLC now owns 14,323,323 shares of the information services provider's stock valued at $2,237,733,000 after buying an additional 14,246,573 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Alphabet in the fourth quarter valued at about $1,551,533,000. Northern Trust Corp raised its holdings in shares of Alphabet by 16.1% in the fourth quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock valued at $10,873,751,000 after buying an additional 7,917,625 shares during the last quarter. Finally, GQG Partners LLC raised its holdings in shares of Alphabet by 181,679.1% in the fourth quarter. GQG Partners LLC now owns 7,225,721 shares of the information services provider's stock valued at $1,376,066,000 after buying an additional 7,221,746 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.
Insider Activity at Alphabet
In related news, CAO Amie Thuener O'toole sold 673 shares of the business's stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 15,303 shares in the company, valued at approximately $2,377,014.99. The trade was a 4.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 11,764 shares of the business's stock in a transaction that occurred 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 transaction, the insider now owns 49,037 shares of the company's stock, valued at $8,181,333.08. This represents a 19.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 195,770 shares of company stock worth $32,036,638. 12.99% of the stock is owned by company insiders.
Alphabet Stock Performance
Shares of GOOG stock opened at $174.92 on Friday. 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 stock has a market cap of $2.12 trillion, a PE ratio of 21.73, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The stock has a 50-day moving average of $161.88 and a 200-day moving average of $176.05. Alphabet Inc. has a one year low of $142.66 and a one year high of $208.70.
Alphabet (NASDAQ:GOOG - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. The company had revenue of $90.23 billion during the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Alphabet's revenue was up 12.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.89 EPS. As a group, sell-side analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.
Alphabet Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be given a $0.21 dividend. The ex-dividend date is Monday, June 9th. This is a positive change from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.48%. Alphabet's payout ratio is currently 9.36%.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on the company. Citigroup reaffirmed a "sell" rating on shares of Alphabet in a report on Wednesday, April 23rd. Needham & Company LLC cut Alphabet from a "buy" rating to a "cautious" rating in a report on Friday, May 2nd. Scotiabank cut their price target on Alphabet from $232.00 to $200.00 and set a "sector outperform" rating for the company in a report on Monday, April 21st. Tigress Financial reissued a "strong-buy" rating on shares of Alphabet in a report on Friday, May 2nd. Finally, Westpark Capital reissued a "buy" rating and set a $210.00 price objective on shares of Alphabet in a report on Friday, April 25th. Three analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $204.88.
Read Our Latest Report on GOOG
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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Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOG - Free Report).
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