Woodley Farra Manion Portfolio Management Inc. raised its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 0.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 444,490 shares of the information services provider's stock after buying an additional 1,835 shares during the quarter. Alphabet accounts for approximately 3.4% of Woodley Farra Manion Portfolio Management Inc.'s holdings, making the stock its 13th biggest holding. Woodley Farra Manion Portfolio Management Inc.'s holdings in Alphabet were worth $68,736,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in GOOGL. Mystic Asset Management Inc. boosted its stake in Alphabet by 6.7% in the first quarter. Mystic Asset Management Inc. now owns 28,454 shares of the information services provider's stock worth $4,400,000 after purchasing an additional 1,791 shares in the last quarter. Harbour Trust & Investment Management Co raised its stake in shares of Alphabet by 0.3% during the first quarter. Harbour Trust & Investment Management Co now owns 27,075 shares of the information services provider's stock worth $4,187,000 after buying an additional 80 shares during the last quarter. Rockbridge Capital Management LLC acquired a new position in Alphabet in the fourth quarter valued at approximately $3,119,000. Cypress Capital LLC boosted its stake in Alphabet by 4.1% in the first quarter. Cypress Capital LLC now owns 14,310 shares of the information services provider's stock valued at $2,213,000 after acquiring an additional 563 shares during the last quarter. Finally, Optivise Advisory Services LLC boosted its position in shares of Alphabet by 8.0% in the 4th quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider's stock worth $1,035,000 after purchasing an additional 403 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on the stock. BMO Capital Markets boosted their price target on shares of Alphabet from $208.00 to $225.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Tigress Financial boosted their price objective on shares of Alphabet from $220.00 to $240.00 and gave the company a "strong-buy" rating in a research report on Wednesday, April 30th. Truist Financial reiterated a "buy" rating and set a $200.00 price objective on shares of Alphabet in a report on Wednesday, July 2nd. Roth Capital lifted their price target on shares of Alphabet from $205.00 to $210.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Finally, Wells Fargo & Company increased their price target on Alphabet from $184.00 to $187.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 29th. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $211.53.
Check Out Our Latest Report on Alphabet
Alphabet Price Performance
Shares of NASDAQ GOOGL opened at $196.09 on Thursday. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 0.07. The stock has a fifty day simple moving average of $179.76 and a two-hundred day simple moving average of $173.12. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05. The firm has a market cap of $2.37 trillion, a price-to-earnings ratio of 20.88, a price-to-earnings-growth ratio of 1.32 and a beta of 1.01.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, beating the consensus estimate of $2.15 by $0.16. The business had revenue of $96,428,000 billion for the quarter, compared to the consensus estimate of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.
Alphabet Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's payout ratio is presently 8.95%.
Insider Buying and Selling at Alphabet
In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following the sale, the chief executive officer owned 2,559,892 shares of the company's stock, valued at $456,991,919.84. This trade represents a 1.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John Kent Walker sold 23,820 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $194.70, for a total transaction of $4,637,754.00. Following the completion of the sale, the insider directly owned 42,999 shares in the company, valued at $8,371,905.30. This represents a 35.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 273,219 shares of company stock valued at $49,474,273 in the last quarter. 11.64% of the stock is currently owned by corporate insiders.
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.
Further Reading
Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL - Free Report).
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