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Marco Investment Management LLC raised its stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 6.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 92,796 shares of the information services provider’s stock after acquiring an additional 5,617 shares during the quarter. Alphabet comprises approximately 1.3% of Marco Investment Management LLC’s investment portfolio, making the stock its 23rd biggest holding. Marco Investment Management LLC’s holdings in Alphabet were worth $14,350,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. FMR LLC boosted its stake in shares of Alphabet by 9.8% in the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider’s stock valued at $47,025,322,000 after purchasing an additional 22,100,902 shares during the last quarter. GAMMA Investing LLC boosted its stake in Alphabet by 16,993.2% during the 1st quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider’s stock worth $2,483,898,000 after acquiring an additional 15,968,487 shares during the last quarter. Northern Trust Corp boosted its stake in Alphabet by 17.0% during 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 acquiring an additional 10,135,430 shares during the last quarter. Capital Research Global Investors boosted its stake in Alphabet by 16.2% during the 4th quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider’s stock worth $13,635,878,000 after acquiring an additional 10,037,685 shares during the last quarter. Finally, Wellington Management Group LLP boosted its stake in Alphabet by 15.9% during the 4th quarter. Wellington Management Group LLP now owns 66,050,135 shares of the information services provider’s stock worth $12,503,291,000 after acquiring an additional 9,042,271 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.
Insider Activity
In other news, Director John L. Hennessy sold 400 shares of the business’s stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $181.98, for a total value of $72,792.00. Following the completion of the sale, the director owned 6,013 shares of the company’s stock, valued at approximately $1,094,245.74. The trade was a 6.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 15,000 shares of the business’s stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $2,786,400.00. Following the completion of the sale, the director directly owned 240,400 shares of the company’s stock, valued at approximately $44,656,704. The trade was a 5.87% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 216,899 shares of company stock valued at $38,459,044. 11.55% of the stock is owned by company insiders.
Alphabet Trading Down 0.2%
GOOGL stock opened at $194.67 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.90 and a quick ratio of 1.90. The company has a fifty day moving average price of $179.29 and a two-hundred day moving average price of $172.97. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The stock has a market cap of $2.35 trillion, a price-to-earnings ratio of 20.73, a price-to-earnings-growth ratio of 1.32 and a beta of 1.01.
Alphabet (NASDAQ:GOOGL – Get Free Report) last announced its earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.15 by $0.16. The company had revenue of $96,428,000 billion during the quarter, compared to analysts’ expectations of $93.60 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. Equities analysts anticipate 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. Stockholders of record on Monday, September 8th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet’s payout ratio is presently 8.95%.
Analysts Set New Price Targets
Several research firms recently weighed in on GOOGL. BNP Paribas Exane reissued a “neutral” rating and set a $172.00 price objective on shares of Alphabet in a research note on Friday, June 27th. BNP Paribas lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, June 26th. Rosenblatt Securities raised their target price on shares of Alphabet from $189.00 to $191.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Needham & Company LLC raised their target price on shares of Alphabet from $210.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Finally, Tigress Financial raised their target price on shares of Alphabet from $220.00 to $240.00 and gave the stock a “strong-buy” rating in a report on Wednesday, April 30th. Ten analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $211.53.
Check Out Our Latest Research Report on Alphabet
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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