GAMMA Investing LLC grew its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 10.5% in the 1st quarter, Holdings Channel reports. The institutional investor owned 103,870 shares of the information services provider’s stock after buying an additional 9,900 shares during the quarter. Alphabet accounts for about 1.2% of GAMMA Investing LLC’s investment portfolio, making the stock its 9th biggest holding. GAMMA Investing LLC’s holdings in Alphabet were worth $16,062,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. First National Bank Sioux Falls raised its position in Alphabet by 18.2% in the first quarter. First National Bank Sioux Falls now owns 12,007 shares of the information services provider’s stock worth $1,857,000 after acquiring an additional 1,848 shares in the last quarter. Wealthcare Advisory Partners LLC boosted its position in shares of Alphabet by 3.9% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 56,875 shares of the information services provider’s stock worth $8,795,000 after purchasing an additional 2,117 shares in the last quarter. Requisite Capital Management LLC grew its stake in shares of Alphabet by 100.2% during the 1st quarter. Requisite Capital Management LLC now owns 4,672 shares of the information services provider’s stock worth $722,000 after purchasing an additional 2,338 shares during the period. Harbor Capital Advisors Inc. increased its holdings in shares of Alphabet by 41.3% in the 1st quarter. Harbor Capital Advisors Inc. now owns 106,535 shares of the information services provider’s stock valued at $16,475,000 after purchasing an additional 31,124 shares in the last quarter. Finally, Regatta Capital Group LLC increased its holdings in Alphabet by 1.6% in the first quarter. Regatta Capital Group LLC now owns 69,422 shares of the information services provider’s stock valued at $10,735,000 after buying an additional 1,082 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
GOOGL has been the subject of several research reports. Piper Sandler lifted their price target on Alphabet from $185.00 to $195.00 and gave the stock an “overweight” rating in a research note on Friday, April 25th. Truist Financial decreased their price objective on Alphabet from $220.00 to $200.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. Citigroup restated a “buy” rating and issued a $203.00 target price (up from $200.00) on shares of Alphabet in a report on Tuesday. Susquehanna dropped their price target on Alphabet from $225.00 to $220.00 and set a “positive” rating for the company in a research note on Friday, April 25th. Finally, Citizens Jmp raised shares of Alphabet from a “market perform” rating to a “mkt outperform” rating and set a $220.00 target price on the stock in a research note on Friday. Nine research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $199.95.
Alphabet Stock Up 2.9%
Shares of NASDAQ:GOOGL opened at $178.53 on Friday. The company’s fifty day moving average is $166.45 and its two-hundred day moving average is $174.52. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05. The stock has a market capitalization of $2.17 trillion, a price-to-earnings ratio of 19.90, a price-to-earnings-growth ratio of 1.11 and a beta of 1.01.
Alphabet (NASDAQ:GOOGL – Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. The business had revenue of $76.49 billion during the quarter, compared to the consensus estimate 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 prior year, the firm earned $1.89 EPS. Equities analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.
Alphabet Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.47%. This is a boost from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. Alphabet’s dividend payout ratio is presently 9.36%.
Insider Buying and Selling
In other news, CAO Amie Thuener O’toole sold 673 shares of Alphabet stock in a transaction that occurred on 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 of the company’s stock, 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 filing with the SEC, which is accessible through the SEC website. Also, Director John L. Hennessy sold 200 shares of the stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $161.90, for a total value of $32,380.00. Following the completion of the transaction, the director now directly owns 7,613 shares of the company’s stock, valued at $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 90 days, insiders have sold 216,195 shares of company stock valued at $35,764,898. Insiders own 11.64% of the company’s stock.
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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