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North Forty Two & Co. reduced its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 5.1% in the 1st quarter, HoldingsChannel.com reports. The firm owned 2,530 shares of the information services provider’s stock after selling 135 shares during the period. North Forty Two & Co.’s holdings in Alphabet were worth $391,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. von Borstel & Associates Inc. acquired a new stake in shares of Alphabet in the first quarter valued at approximately $28,000. Financial Gravity Asset Management Inc. purchased a new stake in Alphabet in the 1st quarter valued at approximately $39,000. Anderson Financial Strategies LLC purchased a new stake in Alphabet in the 4th quarter valued at approximately $49,000. Navigoe LLC purchased a new stake in Alphabet in the 4th quarter valued at approximately $51,000. Finally, Elite Financial Inc. purchased a new stake in Alphabet in the 1st quarter valued at approximately $42,000. 40.03% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities research analysts recently issued reports on the company. Truist Financial reaffirmed a “buy” rating and issued a $200.00 target price on shares of Alphabet in a research note on Wednesday, July 2nd. Roth Capital upped their target price on Alphabet from $205.00 to $210.00 and gave the company a “buy” rating in a research note on Thursday. Oppenheimer upped their target price on Alphabet from $185.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, April 25th. Stifel Nicolaus upped their price objective on shares of Alphabet from $200.00 to $218.00 and gave the company a “buy” rating in a research note on Tuesday, July 22nd. Finally, UBS Group upped their price objective on shares of Alphabet from $192.00 to $202.00 and gave the company a “neutral” rating in a research note on Thursday. Ten research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $211.32.
View Our Latest Analysis on Alphabet
Alphabet Price Performance
GOOGL opened at $193.18 on Friday. The company has a fifty day simple moving average of $175.77 and a 200 day simple moving average of $172.93. The firm has a market cap of $2.34 trillion, a price-to-earnings ratio of 20.57, a PEG ratio of 1.33 and a beta of 1.00. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The company has a current ratio of 1.90, a quick ratio of 1.77 and a debt-to-equity ratio of 0.07.
Alphabet (NASDAQ:GOOGL – Get Free Report) last released its quarterly earnings results 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 analyst estimates of $89.30 billion. Alphabet had a net margin of 31.12% and a return on equity of 34.31%. During the same period last year, the business earned $1.89 EPS. Equities research analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.
Alphabet Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, September 8th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend is Monday, September 8th. Alphabet’s dividend payout ratio is currently 8.95%.
Insider Buying and Selling at Alphabet
In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total transaction of $5,801,900.00. Following the completion of the transaction, the chief executive officer directly owned 2,559,892 shares of the company’s stock, valued at $456,991,919.84. This trade represents a 1.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 18,566 shares of the firm’s stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the transaction, the director directly owned 243,400 shares of the company’s stock, valued at approximately $45,213,984. This represents a 7.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 249,409 shares of company stock valued at $43,523,710. 11.64% of the stock is owned by company insiders.
Alphabet 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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