Brown Lisle Cummings Inc. boosted its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 3.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 51,006 shares of the information services provider’s stock after purchasing an additional 1,496 shares during the quarter. Alphabet comprises approximately 2.3% of Brown Lisle Cummings Inc.’s investment portfolio, making the stock its 6th largest position. Brown Lisle Cummings Inc.’s holdings in Alphabet were worth $7,888,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Compass Planning Associates Inc acquired a new stake in shares of Alphabet in the fourth quarter valued at about $30,000. Anderson Financial Strategies LLC acquired a new stake in Alphabet in the 4th quarter valued at about $49,000. Navigoe LLC purchased a new position in Alphabet in the 4th quarter worth approximately $51,000. Prudent Man Investment Management Inc. purchased a new position in Alphabet in the 4th quarter worth approximately $53,000. Finally, Campbell Capital Management Inc. acquired a new position in shares of Alphabet during the 4th quarter worth approximately $57,000. 40.03% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
GOOGL has been the topic of a number of analyst reports. Citigroup reiterated a “buy” rating and set a $203.00 price objective (up previously from $200.00) on shares of Alphabet in a research report on Tuesday. JPMorgan Chase & Co. reduced their price target on Alphabet from $220.00 to $180.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Sanford C. Bernstein upped their price objective on shares of Alphabet from $165.00 to $185.00 and gave the company a “market perform” rating in a report on Friday, April 25th. Wedbush set a $190.00 target price on shares of Alphabet and gave the stock an “outperform” rating in a research note on Tuesday, April 15th. Finally, DA Davidson dropped their price target on shares of Alphabet from $200.00 to $160.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Ten research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $200.17.
Alphabet Price Performance
GOOGL stock opened at $173.54 on Friday. The business’s 50-day moving average is $165.90 and its two-hundred day moving average is $174.57. 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 firm has a market capitalization of $2.11 trillion, a P/E ratio of 19.35, a P/E/G ratio of 1.09 and a beta of 1.01. Alphabet Inc. has a 1 year low of $140.53 and a 1 year 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, topping the consensus estimate of $2.02 by $0.79. The company had revenue of $76.49 billion during 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 quarter in the previous year, the business posted $1.89 EPS. 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. Shareholders of record on Monday, June 9th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.48%. This is an increase from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. Alphabet’s payout ratio is 9.36%.
Insider Transactions at Alphabet
In other news, CAO Amie Thuener O’toole sold 673 shares of Alphabet stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total transaction of $104,537.09. Following the sale, the chief accounting officer now owns 15,303 shares in the company, valued at approximately $2,377,014.99. The trade was a 4.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $161.90, for a total value of $32,380.00. Following the completion of the sale, the director now directly owns 7,613 shares of the company’s stock, valued at approximately $1,232,544.70. This trade represents a 2.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 216,195 shares of company stock valued at $35,764,898. 11.64% of the stock is currently owned by corporate insiders.
About Alphabet
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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