Continuum Advisory LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 1.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,181 shares of the information services provider’s stock after selling 607 shares during the period. Continuum Advisory LLC’s holdings in Alphabet were worth $4,822,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently modified their holdings of GOOGL. Verus Wealth Management LLC increased its holdings in shares of Alphabet by 8.3% in the first quarter. Verus Wealth Management LLC now owns 2,602 shares of the information services provider’s stock worth $402,000 after purchasing an additional 200 shares during the last quarter. Consolidated Planning Corp increased its stake in Alphabet by 15.9% in the 1st quarter. Consolidated Planning Corp now owns 31,568 shares of the information services provider’s stock worth $4,882,000 after acquiring an additional 4,324 shares during the last quarter. Park Capital Management LLC WI raised its holdings in shares of Alphabet by 10.9% during the 1st quarter. Park Capital Management LLC WI now owns 5,940 shares of the information services provider’s stock worth $919,000 after acquiring an additional 583 shares in the last quarter. CV Advisors LLC boosted its position in shares of Alphabet by 4.6% during the 1st quarter. CV Advisors LLC now owns 76,213 shares of the information services provider’s stock valued at $11,786,000 after acquiring an additional 3,366 shares during the last quarter. Finally, XML Financial LLC grew its holdings in shares of Alphabet by 7.9% in the first quarter. XML Financial LLC now owns 30,368 shares of the information services provider’s stock valued at $4,696,000 after purchasing an additional 2,220 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.
Alphabet Stock Performance
GOOGL stock opened at $173.54 on Friday. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05. The business has a 50-day moving average price of $165.90 and a 200 day moving average price of $174.57. The company has a market capitalization of $2.11 trillion, a P/E ratio of 19.35, a PEG ratio of 1.09 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77.
Alphabet Increases Dividend
The business also recently announced 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. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.48%. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio is currently 9.36%.
Analysts Set New Price Targets
GOOGL has been the topic of a number of recent research reports. JPMorgan Chase & Co. decreased their price target on shares of Alphabet from $220.00 to $180.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 8th. Needham & Company LLC restated a “buy” rating and set a $178.00 target price on shares of Alphabet in a research report on Friday, April 25th. Tigress Financial lifted their price target on Alphabet from $220.00 to $240.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, April 30th. Sanford C. Bernstein upped their price objective on Alphabet from $165.00 to $185.00 and gave the company a “market perform” rating in a research report on Friday, April 25th. Finally, Wedbush set a $190.00 price objective on Alphabet and gave the company an “outperform” rating in a research note on Tuesday, April 15th. 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 stock. According to data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $200.17.
Read Our Latest Report on GOOGL
Insider Buying and Selling at Alphabet
In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The shares were 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 directly owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. The trade was a 1.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 673 shares of the firm’s stock in a transaction dated 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 owns 15,303 shares in the company, valued at $2,377,014.99. This represents a 4.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 216,195 shares of company stock valued at $35,764,898. 11.64% of the stock is currently owned by corporate insiders.
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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