MayTech Global Investments LLC raised its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 9.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 287,034 shares of the information services provider's stock after purchasing an additional 24,778 shares during the quarter. Alphabet accounts for approximately 6.4% of MayTech Global Investments LLC's portfolio, making the stock its 4th largest position. MayTech Global Investments LLC's holdings in Alphabet were worth $54,663,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of GOOG. FMR LLC increased its holdings in Alphabet by 2.8% during the 4th quarter. FMR LLC now owns 117,991,725 shares of the information services provider's stock worth $22,470,344,000 after purchasing an additional 3,189,592 shares during the period. Geode Capital Management LLC increased its position in shares of Alphabet by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 104,777,092 shares of the information services provider's stock valued at $19,894,651,000 after purchasing an additional 1,219,606 shares during the last quarter. Capital International Investors lifted its position in shares of Alphabet by 6.7% during the 4th quarter. Capital International Investors now owns 91,236,069 shares of the information services provider's stock worth $17,376,706,000 after purchasing an additional 5,758,244 shares during the last quarter. Northern Trust Corp raised its stake in Alphabet by 16.1% in the fourth quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock valued at $10,873,751,000 after buying an additional 7,917,625 shares in the last quarter. Finally, Capital Research Global Investors increased its holdings in shares of Alphabet by 0.8% in the 4th quarter. Capital Research Global Investors now owns 39,148,500 shares of the information services provider's stock valued at $7,455,571,000 after acquiring an additional 294,556 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.
Alphabet Trading Up 3.4%
Shares of GOOG stock opened at $159.58 on Tuesday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The business has a fifty day simple moving average of $160.65 and a 200-day simple moving average of $176.97. Alphabet Inc. has a fifty-two week low of $142.66 and a fifty-two week high of $208.70. The stock has a market cap of $1.94 trillion, a P/E ratio of 19.82, a P/E/G ratio of 1.34 and a beta of 1.01.
Alphabet (NASDAQ:GOOG - Get Free Report) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. The company had revenue of $90.23 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The firm's quarterly revenue was up 12.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.89 EPS. On average, analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.
Alphabet Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be issued a dividend of $0.21 per share. This is a boost from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.53%. Alphabet's dividend payout ratio (DPR) is 9.36%.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on GOOG shares. Susquehanna restated a "positive" rating on shares of Alphabet in a research note on Friday, May 2nd. JPMorgan Chase & Co. increased their target price on shares of Alphabet from $180.00 to $195.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. UBS Group reduced their target price on shares of Alphabet from $209.00 to $173.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Needham & Company LLC cut Alphabet from a "buy" rating to a "cautious" rating in a research report on Friday, May 2nd. Finally, KeyCorp decreased their price objective on Alphabet from $202.00 to $185.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Three research analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and five have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $203.94.
Get Our Latest Stock Analysis on GOOG
Insider Activity
In related news, Director John L. Hennessy sold 200 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total value of $33,106.00. Following the sale, the director now directly owns 7,813 shares of the company's stock, valued at approximately $1,293,285.89. This trade represents a 2.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $155.90, for a total transaction of $5,066,750.00. Following the completion of the transaction, the chief executive officer now owns 2,652,696 shares in the company, valued at approximately $413,555,306.40. This trade represents a 1.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 179,324 shares of company stock valued at $30,153,353 over the last quarter. Company insiders own 12.99% of the company's stock.
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.
Further Reading
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