Nearwater Capital Markets Ltd acquired a new position in Alphabet Inc. (NASDAQ:GOOG - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 15,000 shares of the information services provider's stock, valued at approximately $2,857,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. GPS Wealth Strategies Group LLC increased its holdings in shares of Alphabet by 6.8% in the 4th quarter. GPS Wealth Strategies Group LLC now owns 16,248 shares of the information services provider's stock worth $3,094,000 after buying an additional 1,041 shares during the last quarter. Harvest Investment Services LLC boosted its holdings in shares of Alphabet by 3.3% during the 4th quarter. Harvest Investment Services LLC now owns 4,329 shares of the information services provider's stock valued at $824,000 after buying an additional 138 shares in the last quarter. North Forty Two & Co. purchased a new position in Alphabet during the fourth quarter valued at $281,000. SageView Advisory Group LLC increased its position in shares of Alphabet by 140.6% during the fourth quarter. SageView Advisory Group LLC now owns 14,734 shares of the information services provider's stock valued at $2,806,000 after acquiring an additional 8,610 shares in the last quarter. Finally, Requisite Capital Management LLC purchased a new position in shares of Alphabet during the fourth quarter valued at approximately $927,000. 27.26% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at Alphabet
In other news, CAO Amie Thuener O'toole sold 2,824 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $187.43, for a total value of $529,302.32. Following the completion of the transaction, the chief accounting officer now directly owns 15,024 shares in the company, valued at approximately $2,815,948.32. The trade was a 15.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $155.90, for a total value of $5,066,750.00. Following the completion of the sale, the chief executive officer now owns 2,652,696 shares of the company's stock, valued at $413,555,306.40. The trade was a 1.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 179,324 shares of company stock valued at $30,153,353. Insiders own 12.99% of the company's stock.
Alphabet Stock Performance
Shares of GOOG opened at $160.89 on Wednesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The stock has a market capitalization of $1.95 trillion, a P/E ratio of 19.99, a P/E/G ratio of 1.34 and a beta of 1.01. The firm's 50 day moving average is $160.39 and its 200-day moving average is $176.86. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70.
Alphabet (NASDAQ:GOOG - Get Free Report) last posted its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.02 by $0.79. The firm had revenue of $90.23 billion for the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The business's quarterly revenue was up 12.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.89 earnings per share. Equities research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.
Alphabet Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders 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 yield of 0.52%. The ex-dividend date is Monday, June 9th. Alphabet's payout ratio is presently 9.36%.
Wall Street Analyst Weigh In
GOOG has been the subject of a number of recent research reports. Tigress Financial reissued a "strong-buy" rating on shares of Alphabet in a research note on Friday, May 2nd. Oppenheimer upped their target price on Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a research report on Friday, April 25th. Benchmark restated a "negative" rating on shares of Alphabet in a research report on Wednesday, February 5th. Morgan Stanley reiterated an "overweight" rating on shares of Alphabet in a research note on Wednesday, February 5th. Finally, Citigroup reissued a "sell" rating on shares of Alphabet in a research note on Wednesday, April 23rd. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and five have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $203.94.
Check Out Our Latest Stock Analysis on GOOG
About Alphabet
(
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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