Bradley & Co. Private Wealth Management LLC lessened its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 1.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,991 shares of the information services provider’s stock after selling 217 shares during the period. Alphabet accounts for 1.5% of Bradley & Co. Private Wealth Management LLC’s investment portfolio, making the stock its 15th largest position. Bradley & Co. Private Wealth Management LLC’s holdings in Alphabet were worth $2,164,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in GOOGL. Norges Bank purchased a new stake in Alphabet during the 4th quarter worth about $24,383,677,000. FMR LLC increased its position in shares of Alphabet by 9.8% during the fourth quarter. FMR LLC now owns 248,416,916 shares of the information services provider’s stock valued at $47,025,322,000 after buying an additional 22,100,902 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Alphabet by 16,993.2% in the first quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider’s stock worth $2,483,898,000 after buying an additional 15,968,487 shares in the last quarter. Northern Trust Corp lifted its stake in Alphabet by 17.0% in the 4th quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider’s stock worth $13,178,470,000 after purchasing an additional 10,135,430 shares in the last quarter. Finally, Capital Research Global Investors boosted its stake in Alphabet by 16.2% during the fourth quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider’s stock valued at $13,635,878,000 after buying an additional 10,037,685 shares during the period. Institutional investors own 40.03% of the company’s stock.
Insider Buying and Selling at Alphabet
In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $184.38, for a total value of $5,992,350.00. Following the completion of the transaction, the chief executive officer owned 2,527,392 shares in the company, valued at approximately $466,000,536.96. This trade represents a 1.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $1,837,500.00. Following the completion of the sale, the director directly owned 261,966 shares of the company’s stock, valued at $45,844,050. The trade was a 3.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 215,843 shares of company stock worth $37,288,490 over the last 90 days. 11.64% of the stock is owned by insiders.
Alphabet Stock Performance
Shares of NASDAQ GOOGL opened at $185.06 on Friday. 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 Inc. has a 1 year low of $140.53 and a 1 year high of $207.05. The firm has a fifty day moving average price of $172.90 and a 200-day moving average price of $173.01. The stock has a market cap of $2.25 trillion, a PE ratio of 20.63, a price-to-earnings-growth ratio of 1.30 and a beta of 1.00.
Alphabet (NASDAQ:GOOGL – Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.79. The firm 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 quarter last year, the business posted $1.89 earnings per share. 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. Investors of record on Monday, June 9th were paid a dividend of $0.21 per share. This is an increase from Alphabet’s previous quarterly dividend of $0.20. 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 0.45%. Alphabet’s dividend payout ratio is presently 9.36%.
Wall Street Analysts Forecast Growth
GOOGL has been the topic of a number of research analyst reports. Truist Financial reissued a “buy” rating and issued a $200.00 target price on shares of Alphabet in a research note on Wednesday, July 2nd. Roth Capital reissued a “buy” rating and issued a $205.00 target price (up previously from $180.00) on shares of Alphabet in a research note on Tuesday, July 8th. Mizuho reduced their price target on Alphabet from $230.00 to $205.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. Rosenblatt Securities reiterated a “neutral” rating and issued a $189.00 price objective on shares of Alphabet in a research report on Wednesday, May 21st. Finally, UBS Group increased their price objective on Alphabet from $186.00 to $192.00 and gave the company a “neutral” rating in a research note on Wednesday. Ten investment analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $201.68.
Read Our Latest Research Report on GOOGL
About Alphabet
(Free Report)
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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