Woodline Partners LP grew its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 14.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 401,352 shares of the information services provider's stock after buying an additional 50,455 shares during the period. Woodline Partners LP's holdings in Alphabet were worth $62,065,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC increased its holdings in shares of Alphabet by 3.9% in the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider's stock valued at $20,886,000 after purchasing an additional 4,110 shares during the last quarter. Revolve Wealth Partners LLC boosted its holdings in shares of Alphabet by 3.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider's stock worth $2,826,000 after buying an additional 506 shares during the period. Highview Capital Management LLC DE boosted its holdings in shares of Alphabet by 3.6% during the 4th quarter. Highview Capital Management LLC DE now owns 29,100 shares of the information services provider's stock worth $5,509,000 after buying an additional 1,003 shares during the period. Summit Investment Advisors Inc. grew its stake in Alphabet by 3.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 137,477 shares of the information services provider's stock valued at $26,024,000 after buying an additional 4,762 shares during the last quarter. Finally, Forum Financial Management LP raised its holdings in Alphabet by 6.4% in the 4th quarter. Forum Financial Management LP now owns 79,160 shares of the information services provider's stock valued at $14,985,000 after acquiring an additional 4,756 shares during the period. 40.03% of the stock is currently owned by institutional investors.
Insider Activity
In other news, Director John L. Hennessy sold 1,000 shares of Alphabet stock in a transaction on Friday, August 8th. The stock was sold at an average price of $200.00, for a total value of $200,000.00. Following the transaction, the director owned 6,916 shares in the company, valued at approximately $1,383,200. This trade represents a 12.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the transaction, the director owned 243,400 shares in the company, valued at approximately $45,213,984. This represents a 7.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 254,710 shares of company stock valued at $49,208,380 over the last quarter. 11.55% of the stock is owned by corporate insiders.
Alphabet Stock Performance
NASDAQ:GOOGL opened at $234.04 on Tuesday. The company has a market cap of $2.83 trillion, a price-to-earnings ratio of 24.92, a PEG ratio of 1.58 and a beta of 1.01. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $238.13. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90. The stock has a fifty day moving average price of $196.95 and a 200-day moving average price of $175.73.
Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 EPS for the quarter, topping analysts' consensus estimates of $2.15 by $0.16. The company had revenue of $96.43 billion for the quarter, compared to analysts' expectations of $93.60 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. As a group, equities analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.
Alphabet Dividend Announcement
The company 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 $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet's dividend payout ratio (DPR) is currently 8.95%.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on the company. Rosenblatt Securities boosted their price objective on Alphabet from $191.00 to $224.00 and gave the stock a "neutral" rating in a report on Wednesday, September 3rd. Wall Street Zen cut Alphabet from a "buy" rating to a "hold" rating in a report on Friday. Oppenheimer restated an "outperform" rating and issued a $270.00 price target (up from $235.00) on shares of Alphabet in a research note on Tuesday, September 2nd. Sanford C. Bernstein increased their price objective on Alphabet from $185.00 to $195.00 and gave the stock a "market perform" rating in a research report on Tuesday, July 22nd. Finally, Royal Bank Of Canada lifted their target price on Alphabet from $220.00 to $260.00 and gave the stock an "outperform" rating in a report on Wednesday, September 3rd. Three analysts have rated the stock with a Strong Buy rating, thirty-two have given a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $221.44.
Read Our Latest Stock Report on GOOGL
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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