Clearwater Capital Advisors LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 3.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,557 shares of the information services provider’s stock after selling 91 shares during the period. Clearwater Capital Advisors LLC’s holdings in Alphabet were worth $386,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Joseph P. Lucia & Associates LLC grew its holdings in Alphabet by 1.0% during the 1st quarter. Joseph P. Lucia & Associates LLC now owns 6,624 shares of the information services provider’s stock valued at $1,000,000 after buying an additional 64 shares during the last quarter. M. Kraus & Co grew its holdings in Alphabet by 1.1% during the 1st quarter. M. Kraus & Co now owns 6,267 shares of the information services provider’s stock valued at $946,000 after buying an additional 66 shares during the last quarter. Wynn Capital LLC grew its holdings in Alphabet by 3.9% during the 1st quarter. Wynn Capital LLC now owns 1,767 shares of the information services provider’s stock valued at $267,000 after buying an additional 67 shares during the last quarter. Aire Advisors LLC grew its holdings in Alphabet by 0.6% during the 4th quarter. Aire Advisors LLC now owns 11,772 shares of the information services provider’s stock valued at $1,645,000 after buying an additional 68 shares during the last quarter. Finally, Henrickson Nauta Wealth Advisors Inc. lifted its stake in shares of Alphabet by 2.1% during the 1st quarter. Henrickson Nauta Wealth Advisors Inc. now owns 3,274 shares of the information services provider’s stock worth $511,000 after purchasing an additional 68 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.
Alphabet Stock Up 0.1 %
Shares of Alphabet stock opened at $181.79 on Wednesday. The firm has a market cap of $2.25 trillion, a P/E ratio of 27.88, a P/E/G ratio of 1.36 and a beta of 1.05. The business has a 50-day moving average price of $179.36 and a 200 day moving average price of $160.01. Alphabet Inc. has a fifty-two week low of $120.21 and a fifty-two week high of $191.75. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05.
Alphabet (NASDAQ:GOOGL – Get Free Report) last posted its earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.49 by $0.40. The company had revenue of $80.54 billion during the quarter, compared to analyst estimates of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same period in the prior year, the company earned $1.17 earnings per share. On average, sell-side analysts forecast that Alphabet Inc. will post 7.62 earnings per share for the current fiscal year.
Alphabet Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 10th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on the company. Susquehanna lifted their target price on Alphabet from $170.00 to $225.00 and gave the company a “positive” rating in a report on Monday, April 29th. Evercore ISI lifted their target price on Alphabet from $220.00 to $225.00 and gave the company an “outperform” rating in a report on Tuesday, June 11th. Mizuho reduced their target price on Alphabet from $290.00 to $205.00 in a report on Thursday, July 18th. Oppenheimer boosted their price objective on Alphabet from $185.00 to $205.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Finally, Wedbush restated an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a research note on Monday. Six analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $200.88.
Read Our Latest Research Report on Alphabet
Insider Activity
In other news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $185.85, for a total transaction of $278,775.00. Following the completion of the transaction, the director now directly owns 30,824 shares of the company’s stock, valued at $5,728,640.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director John L. Hennessy sold 2,100 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $175.76, for a total transaction of $369,096.00. Following the completion of the transaction, the director now directly owns 5,891 shares in the company, valued at $1,035,402.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $185.85, for a total value of $278,775.00. Following the transaction, the director now owns 30,824 shares of the company’s stock, valued at $5,728,640.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 124,488 shares of company stock valued at $21,866,705. 11.55% of the stock is currently 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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