Gradient Investments LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 3.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 388,919 shares of the information services provider's stock after purchasing an additional 14,481 shares during the quarter. Alphabet accounts for approximately 1.4% of Gradient Investments LLC's holdings, making the stock its 17th biggest position. Gradient Investments LLC's holdings in Alphabet were worth $59,217,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Tandem Wealth Advisors LLC bought a new stake in Alphabet during the 3rd quarter valued at approximately $25,000. Bruce G. Allen Investments LLC bought a new stake in Alphabet in the 4th quarter worth approximately $26,000. Partnership Wealth Management LLC purchased a new stake in shares of Alphabet during the 4th quarter worth approximately $26,000. Equitec Proprietary Markets LLC bought a new position in shares of Alphabet during the 4th quarter valued at approximately $28,000. Finally, Buck Wealth Strategies LLC bought a new position in shares of Alphabet in the 3rd quarter valued at about $32,000. Hedge funds and other institutional investors own 27.26% of the company's stock.
Analyst Upgrades and Downgrades
GOOG has been the topic of several recent analyst reports. Stifel Nicolaus increased their target price on shares of Alphabet from $154.00 to $174.00 and gave the company a "buy" rating in a research note on Tuesday, April 16th. Raymond James boosted their target price on Alphabet from $150.00 to $160.00 and gave the company an "outperform" rating in a research report on Wednesday, January 24th. Susquehanna increased their price target on Alphabet from $150.00 to $170.00 and gave the stock a "positive" rating in a report on Wednesday, January 31st. Oppenheimer boosted their price objective on Alphabet from $172.00 to $185.00 and gave the company an "outperform" rating in a report on Monday, April 8th. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $165.00 target price on shares of Alphabet in a research note on Thursday, April 11th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Alphabet has a consensus rating of "Buy" and an average price target of $165.67.
Check Out Our Latest Research Report on GOOG
Alphabet Stock Performance
Shares of Alphabet stock traded up $0.53 during midday trading on Friday, hitting $168.99. The company had a trading volume of 22,767,056 shares, compared to its average volume of 22,353,938. The stock has a market cap of $2.10 trillion, a price-to-earnings ratio of 25.92, a PEG ratio of 1.26 and a beta of 1.02. Alphabet Inc. has a 12-month low of $104.70 and a 12-month high of $176.42. The company has a quick ratio of 2.10, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The company has a fifty day simple moving average of $151.46 and a 200 day simple moving average of $143.69.
Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.38. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $78.75 billion. During the same quarter in the previous year, the business earned $1.17 EPS. The company's quarterly revenue was up 15.4% compared to the same quarter last year. As a group, analysts predict that Alphabet Inc. will post 7.66 earnings per share for the current fiscal year.
Alphabet Dividend Announcement
The business also recently announced a -- dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be paid a $0.20 dividend. The ex-dividend date is Monday, June 10th.
Insider Activity at Alphabet
In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the sale, the chief executive officer now directly owns 2,377,691 shares of the company's stock, valued at $347,832,416.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total value of $3,291,525.00. Following the sale, the chief executive officer now owns 2,377,691 shares of the company's stock, valued at approximately $347,832,416.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O'toole sold 682 shares of the company's stock in a transaction on Monday, March 4th. The stock was sold at an average price of $136.49, for a total transaction of $93,086.18. Following the transaction, the chief accounting officer now owns 28,602 shares of the company's stock, valued at $3,903,886.98. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 275,129 shares of company stock worth $40,382,765. 12.99% of the stock is owned by corporate insiders.
Alphabet Company 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.
Further Reading
Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOG - Free Report).
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