Deltec Asset Management LLC raised its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 3.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 210,667 shares of the information services provider’s stock after buying an additional 7,329 shares during the period. Alphabet comprises about 6.9% of Deltec Asset Management LLC’s portfolio, making the stock its largest holding. Deltec Asset Management LLC’s holdings in Alphabet were worth $32,578,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. Compass Planning Associates Inc acquired a new position in shares of Alphabet during the 4th quarter worth approximately $30,000. PayPay Securities Corp boosted its holdings in shares of Alphabet by 36.1% during the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after purchasing an additional 65 shares during the last quarter. Anderson Financial Strategies LLC acquired a new position in shares of Alphabet during the 4th quarter worth approximately $49,000. Navigoe LLC acquired a new position in shares of Alphabet during the 4th quarter worth approximately $51,000. Finally, Prudent Man Investment Management Inc. acquired a new position in shares of Alphabet during the 4th quarter worth approximately $53,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Alphabet
In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $176.68, for a total value of $5,742,100.00. Following the transaction, the chief executive officer now owns 2,555,196 shares of the company’s stock, valued at $451,452,029.28. This represents a 1.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 673 shares of the company’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total transaction of $104,537.09. Following the completion of the transaction, the chief accounting officer now owns 15,303 shares of the company’s stock, valued at $2,377,014.99. This represents a 4.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 228,070 shares of company stock valued at $37,745,632 over the last quarter. 11.55% of the stock is owned by insiders.
Alphabet Stock Down 0.9%
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 for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. The business had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same quarter in the prior year, the company earned $1.89 earnings per share. As a group, equities analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
Alphabet Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.51%. The ex-dividend date was Monday, June 9th. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio is 9.36%.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on the company. Piper Sandler boosted their target price on Alphabet from $185.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, April 25th. Oppenheimer boosted their target price on Alphabet from $185.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, April 25th. Morgan Stanley lowered their target price on Alphabet from $210.00 to $185.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Mizuho lowered their target price on Alphabet from $230.00 to $205.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. Finally, KeyCorp boosted their target price on Alphabet from $185.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, April 25th. Ten investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $199.75.
Read Our Latest Analysis on GOOGL
Alphabet Company 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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