United Advisor Group LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 52.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,916 shares of the information services provider's stock after selling 17,894 shares during the period. United Advisor Group LLC's holdings in Alphabet were worth $2,461,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOGL. FMR LLC grew its holdings in shares of Alphabet by 9.8% during the fourth quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock valued at $47,025,322,000 after buying an additional 22,100,902 shares during the last quarter. Norges Bank acquired a new stake in Alphabet during the 4th quarter worth about $24,383,677,000. Price T Rowe Associates Inc. MD grew its stake in Alphabet by 8.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 98,638,127 shares of the information services provider's stock valued at $18,672,198,000 after purchasing an additional 7,574,417 shares during the last quarter. Capital Research Global Investors grew its stake in Alphabet by 16.2% during the 4th 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. Finally, Northern Trust Corp increased its holdings in shares of Alphabet by 17.0% in the fourth quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock valued at $13,178,470,000 after purchasing an additional 10,135,430 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at Alphabet
In related news, CAO Amie Thuener O'toole sold 673 shares of the company'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 transaction, the chief accounting officer now directly owns 15,303 shares in the company, valued at approximately $2,377,014.99. This represents a 4.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the transaction, the chief executive officer now owns 2,717,696 shares of the company's stock, valued at $430,917,877.76. The trade was a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 216,306 shares of company stock worth $35,782,927 in the last three months. 11.64% of the stock is owned by corporate insiders.
Alphabet Price Performance
NASDAQ GOOGL traded up $2.86 during trading hours on Thursday, hitting $173.54. 31,717,471 shares of the company's stock traded hands, compared to its average volume of 30,881,263. The company has a market capitalization of $2.11 trillion, a PE ratio of 19.35, a PEG ratio of 1.09 and a beta of 1.01. 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 Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. The firm's 50-day moving average is $165.45 and its 200-day moving average is $174.58.
Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping 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 business had revenue of $76.49 billion for the quarter, compared to analysts' expectations of $89.30 billion. During the same period in the previous year, the firm posted $1.89 EPS. Equities analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.
Alphabet Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were issued a $0.21 dividend. This is a boost 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 was Monday, June 9th. Alphabet's dividend payout ratio is presently 9.36%.
Analyst Ratings Changes
Several equities research analysts have commented on GOOGL shares. DA Davidson lowered their price target on shares of Alphabet from $200.00 to $160.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Truist Financial lowered their target price on Alphabet from $220.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Wedbush set a $190.00 price target on Alphabet and gave the company an "outperform" rating in a research report on Tuesday, April 15th. Roth Mkm restated a "buy" rating and issued a $220.00 price objective on shares of Alphabet in a research report on Wednesday, March 19th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $200.00 price objective on shares of Alphabet in a research note on Wednesday, April 23rd. Ten equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $200.17.
Read Our Latest Analysis on Alphabet
Alphabet Profile
(
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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