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Kerntke Otto McGlone Wealth Management Group decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 3.5% during the first quarter, according to its most recent filing with the SEC. The firm owned 1,787 shares of the information services provider’s stock after selling 65 shares during the period. Kerntke Otto McGlone Wealth Management Group’s holdings in Alphabet were worth $276,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Eagle Capital Management LLC boosted its position in shares of Alphabet by 0.7% in the 4th quarter. Eagle Capital Management LLC now owns 50,132 shares of the information services provider’s stock worth $9,490,000 after purchasing an additional 371 shares in the last quarter. Brighton Jones LLC lifted its position in Alphabet by 3.9% in the 4th quarter. Brighton Jones LLC now owns 110,330 shares of the information services provider’s stock valued at $20,886,000 after acquiring an additional 4,110 shares in the last quarter. Revolve Wealth Partners LLC raised its stake in Alphabet by 3.5% during the 4th quarter. Revolve Wealth Partners LLC now owns 14,930 shares of the information services provider’s stock valued at $2,826,000 after buying an additional 506 shares during the last quarter. Highview Capital Management LLC DE raised its stake in Alphabet by 3.6% during the 4th quarter. Highview Capital Management LLC DE now owns 29,100 shares of the information services provider’s stock valued at $5,509,000 after buying an additional 1,003 shares during the last quarter. Finally, Hudson Value Partners LLC raised its stake in Alphabet by 22.7% during the 4th quarter. Hudson Value Partners LLC now owns 73,282 shares of the information services provider’s stock valued at $13,873,000 after buying an additional 13,564 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.
Alphabet Stock Up 0.8%
GOOGL stock opened at $185.06 on Monday. The stock has a market capitalization of $2.25 trillion, a P/E ratio of 20.63, a P/E/G ratio of 1.30 and a beta of 1.00. The firm has a 50-day simple moving average of $172.90 and a 200-day simple moving average of $172.89. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05.
Alphabet (NASDAQ:GOOGL – Get Free Report) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. The business 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 company earned $1.89 earnings per share. Equities analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal 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 $0.21 dividend. The ex-dividend date was Monday, June 9th. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.45%. Alphabet’s dividend payout ratio is 9.36%.
Insider Buying and Selling at Alphabet
In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction dated 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 transaction, the director directly owned 261,966 shares in the company, valued at $45,844,050. The trade was a 3.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $105,000.00. Following the completion of the transaction, the director owned 6,813 shares in the company, valued at $1,192,275. The trade was a 8.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 215,843 shares of company stock worth $37,288,490 in the last ninety days. 11.55% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
GOOGL has been the subject of several analyst reports. BNP Paribas Exane restated a “neutral” rating and issued a $172.00 price objective on shares of Alphabet in a research note on Friday, June 27th. Needham & Company LLC increased their price target on Alphabet from $178.00 to $210.00 and gave the stock a “buy” rating in a research note on Wednesday, July 16th. Cantor Fitzgerald increased their price objective on shares of Alphabet from $171.00 to $196.00 and gave the company a “neutral” rating in a report on Wednesday, July 16th. Stifel Nicolaus dropped their price objective on shares of Alphabet from $225.00 to $192.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Finally, Roth Capital reaffirmed a “buy” rating and issued a $205.00 price target (up previously from $180.00) on shares of Alphabet in a report on Tuesday, July 8th. Ten investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $201.68.
Read Our Latest Report on GOOGL
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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