Gradient Capital Advisors LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 8.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 20,955 shares of the information services provider’s stock after purchasing an additional 1,715 shares during the quarter. Alphabet makes up about 1.1% of Gradient Capital Advisors LLC’s holdings, making the stock its 25th biggest position. Gradient Capital Advisors LLC’s holdings in Alphabet were worth $2,927,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Meritage Group LP boosted its stake in Alphabet by 1,061.5% in the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock valued at $40,000 after acquiring an additional 276 shares during the last quarter. Macroview Investment Management LLC boosted its stake in Alphabet by 165.8% in the third quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock valued at $42,000 after acquiring an additional 199 shares during the last quarter. Armor Investment Advisors LLC boosted its stake in 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 acquiring an additional 80 shares during the last quarter. Valued Wealth Advisors LLC purchased a new position in Alphabet in the fourth quarter valued at about $55,000. Finally, LFA Lugano Financial Advisors SA boosted its stake in Alphabet by 301.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 522 shares of the information services provider’s stock valued at $73,000 after acquiring an additional 392 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on GOOGL. Wolfe Research boosted their target price on shares of Alphabet from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday. UBS Group boosted their price target on shares of Alphabet from $150.00 to $166.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Canaccord Genuity Group boosted their price target on shares of Alphabet from $190.00 to $210.00 and gave the company a “buy” rating in a research report on Friday. TD Cowen boosted their price target on shares of Alphabet from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Friday. Finally, KeyCorp boosted their price target on shares of Alphabet from $165.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd. Five analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $187.82.
Check Out Our Latest Stock Report on GOOGL
Alphabet Price Performance
Shares of NASDAQ:GOOGL opened at $171.95 on Monday. Alphabet Inc. has a one year low of $103.54 and a one year high of $174.71. The firm has a market capitalization of $2.14 trillion, a price-to-earnings ratio of 26.37, a PEG ratio of 1.58 and a beta of 1.05. The company’s fifty day moving average price is $147.85 and its 200-day moving average price is $141.42. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.10 and a quick ratio of 2.10.
Alphabet (NASDAQ:GOOGL – Get Free Report) last announced its quarterly earnings data on Tuesday, January 30th. The information services provider reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a net margin of 25.90% and a return on equity of 30.01%. The company had revenue of $86.31 billion during the quarter, compared to analysts’ expectations of $70.77 billion. During the same quarter in the prior year, the company earned $1.05 EPS. On average, equities research analysts anticipate that Alphabet Inc. will post 6.82 earnings per share for the current fiscal year.
Alphabet Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be paid a $0.20 dividend. The ex-dividend date is Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%.
Insider Activity
In other news, Director Frances Arnold sold 230 shares of the company’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the sale, the director now owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $146.29, for a total transaction of $3,291,525.00. Following the completion of the sale, the chief executive officer now owns 2,377,691 shares of the company’s stock, valued at approximately $347,832,416.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Frances Arnold sold 230 shares of the stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the sale, the director now directly owns 15,104 shares of the company’s stock, valued at approximately $2,326,922.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 253,439 shares of company stock valued at $36,746,578. Corporate insiders own 0.88% of the company’s stock.
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
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