UNIVEST FINANCIAL Corp Has $4.02 Million Holdings in Alphabet Inc. (NASDAQ:GOOG)
by Jessica Moore · The Cerbat GemUNIVEST FINANCIAL Corp lifted its stake in Alphabet Inc. (NASDAQ:GOOG – Free Report) by 22.8% during the 1st quarter, HoldingsChannel reports. The fund owned 25,726 shares of the information services provider’s stock after buying an additional 4,784 shares during the period. UNIVEST FINANCIAL Corp’s holdings in Alphabet were worth $4,019,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also bought and sold shares of GOOG. ARQ Wealth Advisors LLC raised its holdings in Alphabet by 39.3% in the 4th quarter. ARQ Wealth Advisors LLC now owns 4,964 shares of the information services provider’s stock valued at $945,000 after acquiring an additional 1,400 shares in the last quarter. Independence Bank of Kentucky raised its stake in shares of Alphabet by 10.2% in the first quarter. Independence Bank of Kentucky now owns 14,907 shares of the information services provider’s stock valued at $2,329,000 after purchasing an additional 1,376 shares in the last quarter. Harvest Investment Services LLC lifted its position in Alphabet by 3.3% in the fourth quarter. Harvest Investment Services LLC now owns 4,329 shares of the information services provider’s stock worth $824,000 after purchasing an additional 138 shares during the period. Fermata Advisors LLC lifted its position in Alphabet by 2.7% in the first quarter. Fermata Advisors LLC now owns 9,771 shares of the information services provider’s stock worth $1,527,000 after purchasing an additional 259 shares during the period. Finally, jvl associates llc boosted its stake in Alphabet by 3.5% during the first quarter. jvl associates llc now owns 10,055 shares of the information services provider’s stock worth $1,571,000 after buying an additional 343 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts have recently issued reports on GOOG shares. Lake Street Capital restated a “buy” rating on shares of Alphabet in a research note on Wednesday, July 9th. Susquehanna reissued a “positive” rating on shares of Alphabet in a research report on Friday, May 2nd. Cowen reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, July 9th. Citizens Jmp upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Thursday, June 26th. Finally, Tigress Financial restated a “strong-buy” rating on shares of Alphabet in a research report on Friday, May 2nd. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, seventeen have assigned a buy rating and five have given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $215.19.
Get Our Latest Stock Analysis on Alphabet
Alphabet Stock Down 2.3%
Shares of GOOG opened at $192.86 on Friday. The business’s fifty day moving average price is $178.96 and its two-hundred day moving average price is $174.70. The firm has a market capitalization of $2.34 trillion, a price-to-earnings ratio of 20.54, a PEG ratio of 1.31 and a beta of 1.01. Alphabet Inc. has a 52 week low of $142.66 and a 52 week high of $208.70. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.
Alphabet (NASDAQ:GOOG – Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The information services provider reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.19. The business had revenue of $96.43 billion for the quarter, compared to analysts’ expectations of $93.67 billion. Alphabet had a return on equity of 34.31% and a net margin of 31.12%. The firm’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.89 earnings per share. On average, analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.
Alphabet Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.4%. Alphabet’s payout ratio is currently 8.95%.
Insider Transactions at Alphabet
In related news, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $185.76, for a total value of $3,448,820.16. Following the transaction, the director directly owned 243,400 shares in the company, valued at $45,213,984. This represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 400 shares of the firm’s stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $181.98, for a total transaction of $72,792.00. Following the completion of the transaction, the director directly owned 6,013 shares in the company, valued at approximately $1,094,245.74. The trade was a 6.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 249,399 shares of company stock worth $43,525,794 in the last quarter. 12.99% of the stock is owned by company insiders.
About Alphabet
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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