Vanderbilt University grew its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 65.8% in the first quarter, Holdings Channel.com reports. The institutional investor owned 52,369 shares of the information services provider’s stock after buying an additional 20,784 shares during the quarter. Alphabet makes up 1.5% of Vanderbilt University’s holdings, making the stock its 10th biggest holding. Vanderbilt University’s holdings in Alphabet were worth $8,098,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the business. Wealth Group Ltd. grew its holdings in shares of Alphabet by 5.2% in the fourth quarter. Wealth Group Ltd. now owns 1,582 shares of the information services provider’s stock valued at $299,000 after purchasing an additional 78 shares in the last quarter. Capital & Planning LLC grew its stake in shares of Alphabet by 34.3% in the fourth quarter. Capital & Planning LLC now owns 4,383 shares of the information services provider’s stock worth $830,000 after acquiring an additional 1,119 shares in the last quarter. Eagle Capital Management LLC grew its stake in shares of Alphabet by 0.7% in the fourth quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider’s stock worth $9,490,000 after acquiring an additional 371 shares in the last quarter. Brighton Jones LLC grew its stake in Alphabet by 3.9% during the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after purchasing an additional 4,110 shares in the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new position in Alphabet during the 4th quarter worth $154,716,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
GOOGL has been the subject of a number of analyst reports. BMO Capital Markets reissued an “outperform” rating and set a $200.00 price objective (down from $230.00) on shares of Alphabet in a research report on Thursday, April 17th. Stifel Nicolaus lowered their price target on shares of Alphabet from $225.00 to $192.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Westpark Capital reiterated a “buy” rating and set a $210.00 target price on shares of Alphabet in a research note on Thursday, May 8th. Mizuho lowered their target price on shares of Alphabet from $230.00 to $205.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. Finally, Cantor Fitzgerald lowered their price objective on Alphabet from $200.00 to $159.00 and set a “neutral” rating for the company in a research report on Wednesday, April 16th. Ten equities research 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 data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $199.75.
Insider Transactions at Alphabet
In other Alphabet news, CAO Amie Thuener O’toole sold 673 shares of the firm’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total transaction of $104,537.09. Following the transaction, the chief accounting officer now owns 15,303 shares in the company, valued at $2,377,014.99. This trade represents a 4.21% decrease in their position. 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 the firm’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the transaction, the chief executive officer now owns 2,717,696 shares in the company, valued at $430,917,877.76. The trade was a 1.18% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 228,070 shares of company stock worth $37,745,632. Company insiders own 11.55% of the company’s stock.
Alphabet Stock Performance
GOOGL opened at $166.64 on Monday. 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 $2.02 trillion, a PE ratio of 18.58, a PEG ratio of 1.06 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. The business’s 50-day simple moving average is $164.77 and its 200 day simple moving average is $174.73.
Alphabet (NASDAQ:GOOGL – Get Free Report) last issued 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 $76.49 billion for the quarter, compared to analysts’ expectations of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. During the same period in the prior year, the firm earned $1.89 EPS. As a group, sell-side analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
Alphabet Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were paid a dividend of $0.21 per share. The ex-dividend date was Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.50%. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio (DPR) is 9.36%.
Alphabet Profile
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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