Woodside Wealth Management LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 16,400 shares of the information services provider's stock, valued at approximately $2,536,000. Alphabet makes up about 2.4% of Woodside Wealth Management LLC's portfolio, making the stock its 12th largest holding.
Other institutional investors and hedge funds have also bought and sold shares of the company. CWM LLC raised its holdings in Alphabet by 6.0% during the first quarter. CWM LLC now owns 973,415 shares of the information services provider's stock valued at $150,529,000 after acquiring an additional 55,385 shares during the period. Greatmark Investment Partners Inc. grew its stake in Alphabet by 1.5% during the 1st quarter. Greatmark Investment Partners Inc. now owns 6,570 shares of the information services provider's stock worth $1,016,000 after buying an additional 100 shares during the last quarter. TFR Capital LLC. boosted its stake in shares of Alphabet by 24.3% in the first quarter. TFR Capital LLC. now owns 22,067 shares of the information services provider's stock valued at $3,412,000 after buying an additional 4,309 shares in the last quarter. Dock Street Asset Management Inc. increased its stake in Alphabet by 901.9% in the first quarter. Dock Street Asset Management Inc. now owns 60,342 shares of the information services provider's stock valued at $9,331,000 after purchasing an additional 54,319 shares during the last quarter. Finally, Hughes Financial Services LLC bought a new position in Alphabet during the 1st quarter valued at $148,000. Institutional investors and hedge funds own 40.03% of the company's stock.
Alphabet Stock Up 0.7%
NASDAQ GOOGL traded up $1.24 on Tuesday, reaching $191.34. The company had a trading volume of 42,499,185 shares, compared to its average volume of 32,275,325. The firm has a 50-day moving average of $172.90 and a 200-day moving average of $172.89. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05. The firm has a market capitalization of $2.32 trillion, a PE ratio of 21.33, a P/E/G ratio of 1.30 and a beta of 1.00. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released 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. The business had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. During the same period in the previous year, the company posted $1.89 EPS. On average, equities research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.
Alphabet Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, June 9th. This is a positive change from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.44%. Alphabet's payout ratio is 9.36%.
Analyst Upgrades and Downgrades
Several research firms have recently issued reports on GOOGL. Wells Fargo & Company raised their price target on shares of Alphabet from $175.00 to $177.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 8th. KeyCorp raised their price objective on shares of Alphabet from $195.00 to $215.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. BNP Paribas cut shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, June 26th. UBS Group increased their price target on shares of Alphabet from $186.00 to $192.00 and gave the company a "neutral" rating in a research report on Wednesday, July 16th. Finally, Mizuho decreased their target price on shares of Alphabet from $230.00 to $205.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. Ten investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $203.19.
Check Out Our Latest Report on Alphabet
Insider Transactions at Alphabet
In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the sale, the chief executive officer directly owned 2,559,892 shares in the company, valued at $456,991,919.84. This trade represents a 1.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of Alphabet stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the transaction, the director owned 243,400 shares of the company's stock, valued at approximately $45,213,984. The trade was a 7.09% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 249,409 shares of company stock valued at $43,523,710. Insiders own 11.64% of the company's stock.
Alphabet Profile
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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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