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WNY Asset Management LLC increased its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 32.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,622 shares of the information services provider’s stock after acquiring an additional 1,632 shares during the period. WNY Asset Management LLC’s holdings in Alphabet were worth $1,024,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the business. Eagle Capital Management LLC grew its holdings in Alphabet by 0.7% during the fourth quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider’s stock valued at $9,490,000 after purchasing an additional 371 shares during the period. Brighton Jones LLC boosted its position in Alphabet by 3.9% during the fourth quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock worth $20,886,000 after purchasing an additional 4,110 shares during the period. Revolve Wealth Partners LLC boosted its position in Alphabet by 3.5% during the fourth quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock worth $2,826,000 after purchasing an additional 506 shares during the period. Highview Capital Management LLC DE lifted its position in shares of Alphabet by 3.6% during the fourth quarter. Highview Capital Management LLC DE now owns 29,100 shares of the information services provider’s stock worth $5,509,000 after acquiring an additional 1,003 shares in the last quarter. Finally, Hudson Value Partners LLC lifted its position in shares of Alphabet by 22.7% during the fourth quarter. Hudson Value Partners LLC now owns 73,282 shares of the information services provider’s stock worth $13,873,000 after acquiring an additional 13,564 shares in the last quarter. 40.03% of the stock is owned by institutional investors.
Alphabet Stock Up 0.5%
Shares of Alphabet stock opened at $193.18 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.77 and a current ratio of 1.90. The stock has a market capitalization of $2.34 trillion, a price-to-earnings ratio of 20.57, a P/E/G ratio of 1.33 and a beta of 1.00. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. The company’s 50 day moving average price is $175.77 and its 200-day moving average price is $172.93.
Alphabet (NASDAQ:GOOGL – Get Free Report) last posted its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 34.31% and a net margin of 31.12%. During the same period last year, the firm earned $1.89 earnings per share. Equities research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.
Alphabet Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be paid a $0.21 dividend. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.43%. Alphabet’s payout ratio is presently 8.95%.
Analyst Upgrades and Downgrades
Several equities research analysts have issued reports on the company. Stifel Nicolaus increased their target price on Alphabet from $200.00 to $218.00 and gave the stock a “buy” rating in a research report on Tuesday, July 22nd. BNP Paribas downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, June 26th. BNP Paribas Exane restated a “neutral” rating and set a $172.00 target price on shares of Alphabet in a research report on Friday, June 27th. Oppenheimer increased their target price on Alphabet from $185.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 25th. Finally, JPMorgan Chase & Co. increased their target price on Alphabet from $200.00 to $232.00 and gave the stock an “overweight” rating in a research report on Thursday. Ten investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $211.32.
Get Our Latest Report on GOOGL
Insider Buying and Selling
In related news, CEO Sundar Pichai sold 32,500 shares of the firm’s 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 sale, the chief executive officer directly owned 2,527,392 shares of the company’s stock, valued at $466,000,536.96. This trade represents a 1.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kavitark Ram Shriram sold 18,566 shares of the firm’s stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $185.76, for a total value of $3,448,820.16. Following the completion of the sale, the director directly owned 243,400 shares in the company, valued at $45,213,984. The trade was a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 249,409 shares of company stock valued at $43,523,710 over the last ninety days. 11.64% of the stock is owned by insiders.
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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