Wood Tarver Financial Group LLC bought a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,657 shares of the information services provider's stock, valued at approximately $313,000.
Several other institutional investors and hedge funds also recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its holdings in Alphabet by 7.7% during the third quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider's stock valued at $10,559,240,000 after acquiring an additional 4,567,275 shares during the period. Wealth Group Ltd. lifted its stake in Alphabet by 5.2% in the fourth quarter. Wealth Group Ltd. now owns 1,582 shares of the information services provider's stock worth $299,000 after purchasing an additional 78 shares during the last quarter. Capital & Planning LLC lifted its stake in Alphabet by 34.3% in the fourth quarter. Capital & Planning LLC now owns 4,383 shares of the information services provider's stock worth $830,000 after purchasing an additional 1,119 shares during the last quarter. Mitsubishi UFJ Asset Management UK Ltd. lifted its stake in Alphabet by 95.0% in the fourth quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 39,000 shares of the information services provider's stock worth $7,383,000 after purchasing an additional 19,000 shares during the last quarter. Finally, Capstone Wealth Management LLC bought a new stake in Alphabet in the fourth quarter worth about $277,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at Alphabet
In other Alphabet news, CAO Amie Thuener O'toole sold 673 shares of the company's stock in a transaction dated Tuesday, April 1st. The shares were 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 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 sale 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 company's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the transaction, the chief executive officer now owns 2,717,696 shares of the company's stock, valued at approximately $430,917,877.76. This trade represents a 1.18% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 164,654 shares of company stock valued at $26,793,380. 11.64% of the stock is owned by insiders.
Alphabet Price Performance
Shares of GOOGL opened at $168.47 on Tuesday. The firm has a market capitalization of $2.04 trillion, a PE ratio of 20.93, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05. The company's fifty day moving average price is $158.67 and its 200-day moving average price is $174.76.
Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share 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 $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same period in the previous year, the company earned $1.89 earnings per share. On average, equities research analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.
Alphabet Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.50%. This is a positive change from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. Alphabet's dividend payout ratio is presently 9.36%.
Analyst Ratings Changes
Several brokerages have issued reports on GOOGL. Bank of America raised their price objective on shares of Alphabet from $185.00 to $200.00 and gave the stock a "buy" rating in a research note on Friday, April 25th. Rosenblatt Securities reaffirmed a "neutral" rating and set a $189.00 price target on shares of Alphabet in a research note on Wednesday, May 21st. Tigress Financial lifted their price target on shares of Alphabet from $220.00 to $240.00 and gave the company a "strong-buy" rating in a research note on Wednesday, April 30th. Jefferies Financial Group decreased their price target on shares of Alphabet from $235.00 to $200.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Finally, BMO Capital Markets reaffirmed an "outperform" rating and set a $200.00 price target (down previously from $230.00) on shares of Alphabet in a research note on Thursday, April 17th. Ten research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, Alphabet has a consensus rating of "Moderate Buy" and an average target price of $199.75.
View Our Latest Analysis on GOOGL
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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