Leigh Baldwin & CO. LLC purchased a new stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 880,260 shares of the information services provider's stock, valued at approximately $166,633,000. Alphabet makes up approximately 0.9% of Leigh Baldwin & CO. LLC's investment portfolio, making the stock its 29th largest holding.
Other hedge funds also recently bought and sold shares of the company. Bennett Selby Investments LP boosted its stake in Alphabet by 4.0% in the 4th quarter. Bennett Selby Investments LP now owns 1,354 shares of the information services provider's stock worth $256,000 after buying an additional 52 shares during the last quarter. Macroview Investment Management LLC boosted its stake in Alphabet by 4.2% in the 4th quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider's stock worth $245,000 after buying an additional 52 shares during the last quarter. Conrad Siegel Investment Advisors Inc. boosted its stake in Alphabet by 0.5% in the 4th quarter. Conrad Siegel Investment Advisors Inc. now owns 9,845 shares of the information services provider's stock worth $1,864,000 after buying an additional 53 shares during the last quarter. Cornerstone Planning Group LLC increased its stake in Alphabet by 2.3% during the fourth quarter. Cornerstone Planning Group LLC now owns 2,381 shares of the information services provider's stock worth $457,000 after acquiring an additional 53 shares during the last quarter. Finally, Addison Advisors LLC increased its stake in Alphabet by 0.7% during the fourth quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider's stock worth $1,425,000 after acquiring an additional 53 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.
Insider Activity
In other Alphabet news, Director John L. Hennessy sold 200 shares of the company's stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total transaction of $33,106.00. Following the transaction, the director now owns 7,813 shares of the company's stock, valued at approximately $1,293,285.89. This represents a 2.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the transaction, the chief executive officer now directly owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. This represents a 1.18% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 179,324 shares of company stock worth $30,153,353. Company insiders own 11.64% of the company's stock.
Alphabet Stock Performance
Shares of Alphabet stock traded up $5.84 during trading on Wednesday, reaching $165.37. The company's stock had a trading volume of 48,653,458 shares, compared to its average volume of 28,978,874. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The firm has a market cap of $2.01 trillion, a price-to-earnings ratio of 20.54, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The business's fifty day moving average price is $158.38 and its 200-day moving average price is $175.12.
Alphabet (NASDAQ:GOOGL - Get Free Report) last issued 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 return on equity of 32.49% and a net margin of 28.60%. 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 posted $1.89 earnings per share. As a group, equities research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.
Alphabet Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be paid a $0.21 dividend. This is a positive change from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend is Monday, June 9th. Alphabet's dividend payout ratio is currently 9.36%.
Wall Street Analyst Weigh In
Several equities research analysts have commented on the company. JPMorgan Chase & Co. dropped their price target on Alphabet from $220.00 to $180.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. BMO Capital Markets restated an "outperform" rating and set a $200.00 price target (down from $230.00) on shares of Alphabet in a research note on Thursday, April 17th. Susquehanna dropped their price target on Alphabet from $225.00 to $220.00 and set a "positive" rating for the company in a research note on Friday, April 25th. Needham & Company LLC restated a "buy" rating and set a $178.00 price target on shares of Alphabet in a research note on Friday, April 25th. Finally, Cantor Fitzgerald decreased their target price on Alphabet from $200.00 to $159.00 and set a "neutral" rating for the company in a research report on Wednesday, April 16th. Ten research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $199.75.
Check Out Our Latest Stock Report on GOOGL
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.
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