Montag A & Associates Inc. raised its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 1.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 131,527 shares of the information services provider’s stock after buying an additional 1,831 shares during the quarter. Alphabet accounts for about 1.0% of Montag A & Associates Inc.’s investment portfolio, making the stock its 22nd largest position. Montag A & Associates Inc.’s holdings in Alphabet were worth $18,373,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. DiNuzzo Private Wealth Inc. bought a new position in Alphabet during the fourth quarter valued at about $38,000. Meritage Group LP grew its holdings in shares of Alphabet by 1,061.5% during the 3rd quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after purchasing an additional 276 shares in the last quarter. Macroview Investment Management LLC increased its position in shares of Alphabet by 165.8% during the third quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock valued at $42,000 after purchasing an additional 199 shares during the period. Armor Investment Advisors LLC raised its stake in shares of Alphabet by 31.0% in the fourth quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock valued at $47,000 after purchasing an additional 80 shares in the last quarter. Finally, IAG Wealth Partners LLC lifted its position in Alphabet by 55.9% in the fourth quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock worth $48,000 after purchasing an additional 123 shares during the period. 40.03% of the stock is owned by institutional investors.
Alphabet Price Performance
Shares of GOOGL stock opened at $174.18 on Friday. The firm’s 50 day moving average price is $156.41 and its two-hundred day moving average price is $144.66. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. Alphabet Inc. has a 52-week low of $115.35 and a 52-week high of $175.12. The stock has a market cap of $2.15 trillion, a PE ratio of 26.71, a PEG ratio of 1.30 and a beta of 1.02.
Alphabet (NASDAQ:GOOGL – Get Free Report) last posted its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The company had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $66.04 billion. During the same quarter in the prior year, the business posted $1.17 EPS. As a group, analysts forecast that Alphabet Inc. will post 7.57 EPS for the current year.
Alphabet Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend is Monday, June 10th.
Insider Transactions at Alphabet
In related news, Director John L. Hennessy sold 2,100 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $175.76, for a total value of $369,096.00. Following the sale, the director now directly owns 5,891 shares in the company, valued at approximately $1,035,402.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $136.49, for a total transaction of $93,086.18. Following the sale, the chief accounting officer now owns 28,602 shares of the company’s stock, valued at $3,903,886.98. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 2,100 shares of Alphabet stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $175.76, for a total value of $369,096.00. Following the transaction, the director now owns 5,891 shares in the company, valued at approximately $1,035,402.16. The disclosure for this sale can be found here. In the last ninety days, insiders sold 276,511 shares of company stock worth $41,234,695. 0.88% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on GOOGL. Wolfe Research increased their price objective on shares of Alphabet from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. KeyCorp increased their price target on shares of Alphabet from $165.00 to $175.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. BMO Capital Markets reaffirmed an “outperform” rating and set a $215.00 price objective on shares of Alphabet in a report on Wednesday. Citigroup increased their target price on Alphabet from $168.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $195.00 price target on shares of Alphabet in a research note on Wednesday. Five analysts have rated the stock with a hold rating, thirty have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $190.60.
Check Out Our Latest Research Report on Alphabet
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.
See Also
Receive News & Ratings for Alphabet Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Alphabet and related companies with MarketBeat.com’s FREE daily email newsletter.