Versant Capital Management Inc boosted its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 81.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,004 shares of the information services provider's stock after purchasing an additional 6,283 shares during the quarter. Versant Capital Management Inc's holdings in Alphabet were worth $2,188,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cassaday & Co Wealth Management LLC raised its position in Alphabet by 9.3% during the 4th quarter. Cassaday & Co Wealth Management LLC now owns 28,044 shares of the information services provider's stock worth $5,341,000 after buying an additional 2,390 shares during the last quarter. LaFleur & Godfrey LLC raised its position in Alphabet by 1.2% during the 4th quarter. LaFleur & Godfrey LLC now owns 31,967 shares of the information services provider's stock worth $6,088,000 after buying an additional 380 shares during the last quarter. Brighton Jones LLC raised its position in Alphabet by 5.6% during the 4th quarter. Brighton Jones LLC now owns 120,253 shares of the information services provider's stock worth $22,901,000 after buying an additional 6,410 shares during the last quarter. Legacy Financial Group LLC purchased a new position in Alphabet during the 4th quarter worth $273,000. Finally, Granite Group Advisors LLC raised its position in Alphabet by 6.2% during the 4th quarter. Granite Group Advisors LLC now owns 1,773 shares of the information services provider's stock worth $338,000 after buying an additional 103 shares during the last quarter. Hedge funds and other institutional investors own 27.26% of the company's stock.
Insiders Place Their Bets
In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the sale, the chief executive officer now directly owns 2,717,696 shares of the company's stock, valued at $430,917,877.76. This trade represents a 1.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O'toole sold 1,374 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $173.47, for a total transaction of $238,347.78. Following the sale, the chief accounting officer now directly owns 15,024 shares in the company, valued at $2,606,213.28. This represents a 8.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 164,533 shares of company stock valued at $26,772,774 in the last ninety days. Insiders own 12.99% of the company's stock.
Alphabet Price Performance
NASDAQ GOOG traded down $2.09 during trading hours on Friday, reaching $170.87. The company's stock had a trading volume of 36,230,934 shares, compared to its average volume of 20,239,371. The stock has a market cap of $2.07 trillion, a PE ratio of 21.23, a PEG ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70. The company's 50-day moving average is $160.88 and its two-hundred day moving average is $176.27. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84.
Alphabet (NASDAQ:GOOG - Get Free Report) last issued its quarterly earnings data 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. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The firm had revenue of $90.23 billion for the quarter, compared to analysts' expectations of $89.30 billion. During the same period in the prior year, the company earned $1.89 EPS. The firm's revenue was up 12.0% on a year-over-year basis. Analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.
Alphabet Increases Dividend
The company also recently declared 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 boost from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend is Monday, June 9th. Alphabet's dividend payout ratio (DPR) is currently 9.36%.
Wall Street Analyst Weigh In
GOOG has been the topic of a number of recent analyst reports. KeyCorp lowered their price target on shares of Alphabet from $202.00 to $185.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. Needham & Company LLC cut shares of Alphabet from a "buy" rating to a "cautious" rating in a research note on Friday, May 2nd. Benchmark reaffirmed a "negative" rating on shares of Alphabet in a research note on Wednesday, February 5th. JPMorgan Chase & Co. upped their price target on shares of Alphabet from $180.00 to $195.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. Finally, Tigress Financial reaffirmed a "strong-buy" rating on shares of Alphabet in a research note on Friday, May 2nd. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and five have issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $203.94.
View Our Latest 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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