Sulzberger Capital Advisors Inc. purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 15,194 shares of the information services provider's stock, valued at approximately $2,876,000. Alphabet comprises about 3.3% of Sulzberger Capital Advisors Inc.'s investment portfolio, making the stock its 13th largest holding.
A number of other institutional investors also recently modified their holdings of GOOGL. Bennett Selby Investments LP increased its stake in Alphabet by 4.0% during the 4th quarter. Bennett Selby Investments LP now owns 1,354 shares of the information services provider's stock worth $256,000 after acquiring an additional 52 shares during the period. Macroview Investment Management LLC raised its stake in Alphabet by 4.2% in the fourth quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider's stock valued at $245,000 after purchasing an additional 52 shares in the last quarter. Conrad Siegel Investment Advisors Inc. lifted its position in Alphabet by 0.5% during the fourth quarter. Conrad Siegel Investment Advisors Inc. now owns 9,845 shares of the information services provider's stock worth $1,864,000 after purchasing an additional 53 shares during the period. Cornerstone Planning Group LLC grew 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 buying an additional 53 shares in the last quarter. Finally, Addison Advisors LLC increased its holdings in Alphabet by 0.7% in the 4th quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider's stock valued at $1,425,000 after buying an additional 53 shares during the period. Institutional investors own 40.03% of the company's stock.
Alphabet Price Performance
NASDAQ GOOGL traded up $2.73 during trading hours on Friday, hitting $164.03. The company had a trading volume of 25,689,744 shares, compared to its average volume of 28,193,426. The firm has a 50 day simple moving average of $160.19 and a 200 day simple moving average of $175.41. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05. The firm has a market capitalization of $1.99 trillion, a price-to-earnings ratio of 20.38, a PEG 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.
Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. During the same quarter last year, the company earned $1.89 earnings per share. Equities research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.
Alphabet Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend is Monday, June 9th. This is a boost from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio is currently 9.36%.
Insider Buying and Selling
In other news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $156.16, for a total value of $5,075,200.00. Following the transaction, the chief executive officer now owns 2,685,196 shares in the company, valued at approximately $419,320,207.36. This represents a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider John Kent Walker sold 17,690 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $185.51, for a total value of $3,281,671.90. Following the completion of the transaction, the insider now directly owns 43,111 shares in the company, valued at $7,997,521.61. This trade represents a 29.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 148,164 shares of company stock worth $25,357,390 in the last quarter. 11.55% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
GOOGL has been the topic of a number of research analyst reports. KeyCorp raised their target price on Alphabet from $185.00 to $195.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Cantor Fitzgerald cut their price objective on Alphabet from $200.00 to $159.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. Bank of America upped their target price on Alphabet from $185.00 to $200.00 and gave the company a "buy" rating in a research report on Friday, April 25th. Rosenblatt Securities decreased their price target on shares of Alphabet from $205.00 to $189.00 and set a "neutral" rating for the company in a research note on Friday, April 25th. Finally, Piper Sandler boosted their target price on Alphabet from $185.00 to $195.00 and gave the company an "overweight" rating in a research report on Friday, April 25th. Ten research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and five have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $199.46.
Get Our Latest Analysis on Alphabet
Alphabet 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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