Alphabet Inc. (NASDAQ:GOOG) Shares Purchased by DCM Advisors LLC

by · The Markets Daily

DCM Advisors LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 3.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 15,060 shares of the information services provider’s stock after acquiring an additional 547 shares during the period. Alphabet makes up about 1.3% of DCM Advisors LLC’s portfolio, making the stock its 23rd largest holding. DCM Advisors LLC’s holdings in Alphabet were worth $2,868,000 at the end of the most recent quarter.

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

Alphabet Stock Up 2.9%

Shares of NASDAQ:GOOG opened at $170.06 on Thursday. The stock has a market cap of $2.06 trillion, a P/E ratio of 21.13, a PEG ratio of 1.34 and a beta of 1.01. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $208.70. The business has a fifty day moving average of $160.23 and a two-hundred day moving average of $176.62.

Alphabet (NASDAQ:GOOG – Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. The business had revenue of $90.23 billion during the quarter, compared to analysts’ expectations of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The company’s revenue was up 12.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.89 EPS. On average, research analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, June 9th. This is a boost from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.49%. Alphabet’s dividend payout ratio is currently 9.36%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on GOOG. KeyCorp dropped their price target on Alphabet from $202.00 to $185.00 and set an “overweight” rating for the company in a research report on Wednesday, April 9th. Morgan Stanley reiterated an “overweight” rating on shares of Alphabet in a research report on Wednesday, February 5th. Scotiabank decreased their price target on shares of Alphabet from $232.00 to $200.00 and set a “sector outperform” rating on the stock in a research note on Monday, April 21st. Citigroup reaffirmed a “sell” rating on shares of Alphabet in a research note on Wednesday, April 23rd. Finally, Wedbush reaffirmed an “outperform” rating and set a $220.00 price objective on shares of Alphabet in a research note on Thursday, January 30th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and five have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average target price of $203.94.

Read Our Latest Analysis on Alphabet

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $155.90, for a total transaction of $5,066,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,652,696 shares in the company, valued at approximately $413,555,306.40. This represents a 1.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ruth Porat sold 17,690 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $183.48, for a total value of $3,245,761.20. Following the transaction, the insider now owns 1,449,286 shares of the company’s stock, valued at approximately $265,914,995.28. This represents a 1.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 129,744 shares of company stock worth $20,968,366. 12.99% of the stock is currently owned by company 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.

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