Shellback Capital LP acquired a new stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 20,000 shares of the information services provider's stock, valued at approximately $3,786,000.
A number of other hedge funds have also recently made changes to their positions in the business. Security National Bank of SO Dak boosted its position in shares of Alphabet by 2.7% during the 4th quarter. Security National Bank of SO Dak now owns 30,198 shares of the information services provider's stock valued at $5,716,000 after acquiring an additional 790 shares during the last quarter. SGL Investment Advisors Inc. lifted its position in Alphabet by 2.8% during the fourth quarter. SGL Investment Advisors Inc. now owns 7,415 shares of the information services provider's stock valued at $1,361,000 after purchasing an additional 199 shares during the last quarter. Rafferty Asset Management LLC grew its stake in shares of Alphabet by 3.2% in the 4th quarter. Rafferty Asset Management LLC now owns 732,623 shares of the information services provider's stock worth $138,686,000 after buying an additional 22,859 shares in the last quarter. Raiffeisen Bank International AG bought a new stake in shares of Alphabet in the 4th quarter worth about $294,063,000. Finally, Ratan Capital Management LP purchased a new stake in shares of Alphabet during the 4th quarter valued at about $11,803,000. Institutional investors own 40.03% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts have weighed in on the company. UBS Group set a $195.00 price objective on Alphabet in a research note on Friday, April 25th. Wedbush set a $190.00 target price on Alphabet and gave the company an "outperform" rating in a research report on Tuesday, April 15th. KeyCorp raised their price target on Alphabet from $185.00 to $195.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. Roth Mkm reiterated a "buy" rating and set a $220.00 price objective on shares of Alphabet in a research report on Wednesday, March 19th. Finally, DZ Bank lowered shares of Alphabet from a "buy" rating to a "hold" rating and set a $198.00 target price for the company. in a report on Thursday, February 6th. Ten investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $199.75.
Get Our Latest Stock Analysis on GOOGL
Alphabet Stock Down 0.9%
Shares of GOOGL stock opened at $163.96 on Friday. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. The firm has a market capitalization of $1.99 trillion, a PE ratio of 20.37, a P/E/G ratio of 1.34 and a beta of 1.01. 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 stock's 50-day simple moving average is $158.17 and its 200-day simple moving average is $175.03.
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 for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The company had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter in the prior year, the company earned $1.89 EPS. Equities analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.
Alphabet Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.51%. The ex-dividend date is Monday, June 9th. This is a boost from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio (DPR) is 9.36%.
Insider Activity at Alphabet
In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer now owns 2,652,696 shares in the company, valued at approximately $413,555,306.40. This represents a 1.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O'toole sold 2,824 shares of the firm's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $187.43, for a total value of $529,302.32. Following the sale, the chief accounting officer now owns 15,024 shares in the company, valued at $2,815,948.32. This trade represents a 15.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 179,324 shares of company stock worth $30,153,353 over the last three months. Company insiders own 11.64% of the company's stock.
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.
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