Nilsine Partners LLC raised its stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 2.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,236 shares of the information services provider’s stock after purchasing an additional 525 shares during the period. Nilsine Partners LLC’s holdings in Alphabet were worth $3,439,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of GOOGL. Compass Planning Associates Inc acquired a new stake in shares of Alphabet during the 4th quarter worth about $30,000. PayPay Securities Corp raised its position 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 acquiring an additional 65 shares in the last quarter. Anderson Financial Strategies LLC acquired a new stake in shares of Alphabet during the 4th quarter worth about $49,000. Navigoe LLC acquired a new stake in shares of Alphabet during the 4th quarter worth about $51,000. Finally, Prudent Man Investment Management Inc. acquired a new stake in shares of Alphabet during the 4th quarter worth about $53,000. Institutional investors and hedge funds own 40.03% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on GOOGL. Oppenheimer raised their target price on Alphabet from $185.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 25th. DA Davidson cut their target price on Alphabet from $200.00 to $160.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. UBS Group set a $195.00 target price on Alphabet in a research report on Friday, April 25th. Rosenblatt Securities restated a “neutral” rating and set a $189.00 price target on shares of Alphabet in a research note on Wednesday, May 21st. Finally, Mizuho dropped their price target on Alphabet from $230.00 to $205.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. Ten investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $199.83.
Insider Activity
In other news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 2,717,696 shares of the company’s stock, valued at $430,917,877.76. This trade represents a 1.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Kent Walker sold 11,764 shares of the firm’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $166.84, for a total value of $1,962,705.76. Following the completion of the sale, the insider now directly owns 49,037 shares of the company’s stock, valued at $8,181,333.08. This represents a 19.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 228,070 shares of company stock valued at $37,745,632 in the last three months. 11.55% of the stock is currently owned by company insiders.
Alphabet Stock Up 1.0%
GOOGL opened at $166.77 on Wednesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. The business has a 50 day simple moving average of $165.10 and a 200-day simple moving average of $174.61. The stock has a market capitalization of $2.02 trillion, a P/E ratio of 18.59, a P/E/G ratio of 1.05 and a beta of 1.01. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05.
Alphabet (NASDAQ:GOOGL – Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating the consensus estimate of $2.02 by $0.79. The business had revenue of $76.49 billion during the quarter, compared to analysts’ expectations of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. During the same period last year, the firm earned $1.89 EPS. On average, equities analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
Alphabet Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were issued a $0.21 dividend. This is a boost from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.50%. The ex-dividend date was Monday, June 9th. Alphabet’s dividend payout ratio (DPR) is currently 9.36%.
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.
Further Reading
- Five stocks we like better than Alphabet
- Investing in Travel Stocks Benefits
- 3 Hot Trades for Insiders, But Are They Good Buys for Investors?
- What Percentage Gainers Tell Investors and Why They Don’t Tell the Whole Story
- Why Qualcomm’s Latest Price Target Can’t Be Ignored
- What is a Special Dividend?
- Analyst Sees Meta Hitting $800: What May Lead Shares to New Highs
Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.