Riversedge Advisors LLC Purchases 174 Shares of Alphabet Inc. (NASDAQ:GOOG)

by · The Cerbat Gem

Riversedge Advisors LLC lifted its position in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 3.1% during the 1st quarter, Holdings Channel reports. The firm owned 5,871 shares of the information services provider’s stock after acquiring an additional 174 shares during the period. Riversedge Advisors LLC’s holdings in Alphabet were worth $917,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. FMR LLC raised its position in shares of Alphabet by 2.8% in the 4th quarter. FMR LLC now owns 117,991,725 shares of the information services provider’s stock worth $22,470,344,000 after purchasing an additional 3,189,592 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Alphabet by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 104,777,092 shares of the information services provider’s stock worth $19,894,651,000 after purchasing an additional 1,219,606 shares during the last quarter. Capital International Investors raised its position in shares of Alphabet by 6.7% in the 4th quarter. Capital International Investors now owns 91,236,069 shares of the information services provider’s stock worth $17,376,706,000 after purchasing an additional 5,758,244 shares during the last quarter. Northern Trust Corp raised its position in shares of Alphabet by 16.1% in the 4th quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider’s stock worth $10,873,751,000 after purchasing an additional 7,917,625 shares during the last quarter. Finally, Capital Research Global Investors raised its position in shares of Alphabet by 0.8% in the 4th quarter. Capital Research Global Investors now owns 39,148,500 shares of the information services provider’s stock worth $7,455,571,000 after purchasing an additional 294,556 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Alphabet Trading Up 1.5%

Alphabet stock opened at $181.31 on Friday. The firm has a 50 day moving average of $171.50 and a 200 day moving average of $175.07. The firm has a market capitalization of $2.20 trillion, a price-to-earnings ratio of 20.21, a P/E/G ratio of 1.26 and a beta of 1.01. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOG – Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The business had revenue of $90.23 billion during the quarter, compared to analyst estimates of $89.30 billion. During the same period last year, the firm posted $1.89 EPS. The company’s revenue was up 12.0% on a year-over-year basis. As a group, research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were issued a dividend of $0.21 per share. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date was Monday, June 9th. Alphabet’s dividend payout ratio (DPR) is 9.36%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Roth Capital reaffirmed a “buy” rating on shares of Alphabet in a research report on Wednesday. Barclays reissued a “buy” rating on shares of Alphabet in a research report on Wednesday. Rosenblatt Securities raised Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Friday, April 25th. JPMorgan Chase & Co. boosted their target price on Alphabet from $195.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $220.00 target price on shares of Alphabet in a research report on Monday, June 2nd. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, eighteen have issued a buy rating and six have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $207.13.

View Our Latest Research Report on Alphabet

Insider Activity

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the completion of the transaction, the director directly owned 261,966 shares in the company, valued at approximately $45,844,050. This represents a 3.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer owned 2,620,196 shares of the company’s stock, valued at $447,712,890.52. This represents a 1.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 215,643 shares of company stock worth $36,330,928. 12.99% of the stock is currently owned by insiders.

Alphabet Profile

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOG – Free Report).