Vise Technologies Inc. grew its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 72.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,265 shares of the information services provider's stock after acquiring an additional 14,853 shares during the period. Vise Technologies Inc.'s holdings in Alphabet were worth $6,716,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of GOOG. Sterling Financial Planning Inc. boosted its holdings in Alphabet by 2.6% during the fourth quarter. Sterling Financial Planning Inc. now owns 1,941 shares of the information services provider's stock worth $370,000 after purchasing an additional 50 shares during the last quarter. Arlington Trust Co LLC boosted its holdings in Alphabet by 0.4% during the fourth quarter. Arlington Trust Co LLC now owns 14,423 shares of the information services provider's stock worth $2,747,000 after purchasing an additional 52 shares during the last quarter. Harrell Investment Partners LLC boosted its holdings in Alphabet by 0.9% during the fourth quarter. Harrell Investment Partners LLC now owns 5,659 shares of the information services provider's stock worth $1,078,000 after purchasing an additional 53 shares during the last quarter. Ethos Financial Group LLC boosted its holdings in Alphabet by 0.7% during the fourth quarter. Ethos Financial Group LLC now owns 7,300 shares of the information services provider's stock worth $1,395,000 after purchasing an additional 53 shares during the last quarter. Finally, Hutchinson Capital Management CA boosted its holdings in Alphabet by 1.5% during the fourth quarter. Hutchinson Capital Management CA now owns 3,555 shares of the information services provider's stock worth $677,000 after purchasing an additional 54 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company's stock.
Alphabet Stock Performance
NASDAQ GOOG opened at $171.98 on Friday. The company's 50 day moving average is $160.34 and its 200-day moving average is $176.63. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm has a market cap of $2.09 trillion, a P/E ratio of 21.36, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01.
Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The company had revenue of $90.23 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same quarter in the previous year, the firm posted $1.89 earnings per share. The company's quarterly revenue was up 12.0% compared to the same quarter last year. Sell-side analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.
Alphabet Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be given a $0.21 dividend. The ex-dividend date is Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.49%. This is a positive change from Alphabet's previous quarterly dividend of $0.20. Alphabet's payout ratio is 9.36%.
Analysts Set New Price Targets
Several research firms recently weighed in on GOOG. Benchmark restated a "negative" rating on shares of Alphabet in a report on Wednesday, February 5th. Needham & Company LLC cut shares of Alphabet from a "buy" rating to a "cautious" rating in a report on Friday, May 2nd. Susquehanna reaffirmed a "positive" rating on shares of Alphabet in a research report on Friday, May 2nd. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $171.00 price objective on shares of Alphabet in a research report on Friday, April 25th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $220.00 price objective on shares of Alphabet in a research report on Thursday, January 30th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have issued a buy rating and five have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet currently has an average rating of "Moderate Buy" and a consensus price target of $203.94.
Read Our Latest Research Report on GOOG
Insider Activity
In other news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00. Following the sale, 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O'toole sold 1,374 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $173.47, for a total transaction of $238,347.78. Following the completion of the sale, the chief accounting officer now directly owns 15,024 shares in the company, valued at approximately $2,606,213.28. This trade represents a 8.38% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 112,054 shares of company stock valued at $17,722,605 over the last quarter. Company insiders own 12.99% of the company's stock.
Alphabet Company 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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Alphabet, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Alphabet wasn't on the list.
While Alphabet currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Today, we are inviting you to take a free peek at our proprietary, exclusive, and up-to-the-minute list of 20 stocks that Wall Street's top analysts hate.
Many of these appear to have good fundamentals and might seem like okay investments, but something is wrong. Analysts smell something seriously rotten about these companies. These are true "Strong Sell" stocks.
Get This Free Report
