Cambridge Investment Research Advisors Inc. lessened its stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 1.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 953,604 shares of the information services provider’s stock after selling 9,243 shares during the period. Alphabet accounts for 0.5% of Cambridge Investment Research Advisors Inc.’s portfolio, making the stock its 23rd largest holding. Cambridge Investment Research Advisors Inc.’s holdings in Alphabet were worth $147,465,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently bought and sold shares of the stock. Macroview Investment Management LLC increased its holdings in Alphabet by 4.2% during the fourth quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider’s stock worth $245,000 after buying an additional 52 shares during the last quarter. Addison Advisors LLC lifted its stake 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 purchasing an additional 53 shares during the last quarter. Burt Wealth Advisors lifted its stake in Alphabet by 1.0% in the 4th quarter. Burt Wealth Advisors now owns 5,307 shares of the information services provider’s stock valued at $1,005,000 after purchasing an additional 54 shares during the last quarter. Perritt Capital Management Inc lifted its stake in Alphabet by 10.4% in the 4th quarter. Perritt Capital Management Inc now owns 618 shares of the information services provider’s stock valued at $117,000 after purchasing an additional 58 shares during the last quarter. Finally, Nia Impact Advisors LLC lifted its stake in Alphabet by 0.3% in the 4th quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider’s stock valued at $3,249,000 after purchasing an additional 59 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts recently issued reports on GOOGL shares. Tigress Financial raised their target price on shares of Alphabet from $220.00 to $240.00 and gave the company a “strong-buy” rating in a research note on Wednesday, April 30th. Bank of America raised their target price on shares of Alphabet from $185.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, April 25th. Jefferies Financial Group lowered their price target on shares of Alphabet from $235.00 to $200.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Stifel Nicolaus lowered their price target on shares of Alphabet from $225.00 to $192.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Finally, Roth Mkm reissued a “buy” rating and issued a $220.00 price target on shares of Alphabet in a report on Wednesday, March 19th. Ten analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $200.17.
Insider Buying and Selling at Alphabet
In other news, CAO Amie Thuener O’toole sold 673 shares of Alphabet 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 sale, the chief accounting officer now directly owns 15,303 shares of the company’s stock, valued at approximately $2,377,014.99. The trade was a 4.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $155.90, for a total transaction of $5,066,750.00. Following the sale, the chief executive officer now directly owns 2,652,696 shares of the company’s stock, valued at $413,555,306.40. This represents a 1.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 216,306 shares of company stock valued at $35,782,927 in the last three months. Company insiders own 11.64% of the company’s stock.
Alphabet Stock Up 2.3%
GOOGL opened at $170.68 on Thursday. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. The stock has a market cap of $2.07 trillion, a price-to-earnings ratio of 19.03, a PEG ratio of 1.06 and a beta of 1.01. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The company’s 50-day moving average price is $165.45 and its two-hundred day moving average price is $174.58.
Alphabet (NASDAQ:GOOGL – Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 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 company posted $1.89 EPS. As a group, equities 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 was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were paid a $0.21 dividend. The ex-dividend date was Monday, June 9th. This is a boost from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.49%. Alphabet’s dividend payout ratio 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.
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