Augustine Asset Management Inc. boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 3.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,730 shares of the information services provider’s stock after acquiring an additional 96 shares during the quarter. Augustine Asset Management Inc.’s holdings in Alphabet were worth $422,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in GOOGL. Anderson Financial Strategies LLC purchased a new position in Alphabet in the fourth quarter valued at $49,000. Navigoe LLC purchased a new position in shares of Alphabet in the 4th quarter valued at about $51,000. Prudent Man Investment Management Inc. acquired a new position in shares of Alphabet during the fourth quarter worth about $53,000. Campbell Capital Management Inc. purchased a new stake in shares of Alphabet during the fourth quarter worth approximately $57,000. Finally, Marshall Investment Management LLC acquired a new stake in Alphabet in the fourth quarter valued at approximately $59,000. Institutional investors and hedge funds own 40.03% of the company’s stock.
Alphabet Price Performance
Alphabet stock opened at $179.08 on Friday. The company has a market cap of $2.17 trillion, a P/E ratio of 19.96, a price-to-earnings-growth ratio of 1.26 and a beta of 1.00. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The business has a fifty day moving average of $168.70 and a two-hundred day moving average of $173.97. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77.
Alphabet Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were issued a $0.21 dividend. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.47%. Alphabet’s dividend payout ratio is 9.36%.
Insider Activity
In related news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $170.87, for a total value of $5,553,275.00. Following the sale, the chief executive officer directly owned 2,620,196 shares in the company, valued at $447,712,890.52. The trade was a 1.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John L. Hennessy sold 600 shares of the stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $105,000.00. Following the completion of the sale, the director directly owned 6,813 shares in the company, valued at approximately $1,192,275. The trade was a 8.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 215,643 shares of company stock worth $36,330,928 over the last 90 days. 11.64% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
GOOGL has been the subject of a number of recent research reports. Tigress Financial lifted their price target on shares of Alphabet from $220.00 to $240.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, April 30th. Mizuho decreased their price objective on shares of Alphabet from $230.00 to $205.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Roth Mkm reaffirmed a “buy” rating and set a $220.00 price objective on shares of Alphabet in a research report on Wednesday, March 19th. DA Davidson lowered their target price on shares of Alphabet from $200.00 to $160.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Finally, BNP Paribas Exane restated a “neutral” rating and issued a $172.00 price target on shares of Alphabet in a research note on Friday, June 27th. Ten research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $199.95.
View 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.
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