Alphabet Inc. (NASDAQ:GOOGL) Shares Acquired by Everest Management Corp.

Everest Management Corp. boosted its position in Alphabet Inc. (NASDAQ:GOOGL) by 0.4% in the 1st quarter, HoldingsChannel reports. The firm owned 48,600 shares of the information services provider’s stock after acquiring an additional 198 shares during the period. Alphabet makes up about 6.9% of Everest Management Corp.’s portfolio, making the stock its 2nd largest position. Everest Management Corp.’s holdings in Alphabet were worth $7,516,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Compass Planning Associates Inc acquired a new stake in Alphabet in the 4th quarter valued at about $30,000. PayPay Securities Corp lifted its stake in Alphabet by 36.1% in the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after purchasing an additional 65 shares during the last quarter. Anderson Financial Strategies LLC acquired a new stake in Alphabet in the 4th quarter valued at about $49,000. Navigoe LLC acquired a new stake in Alphabet in the 4th quarter valued at about $51,000. Finally, Prudent Man Investment Management Inc. bought a new position in Alphabet in the 4th quarter valued at about $53,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GOOGL has been the topic of several research analyst reports. Wedbush set a $190.00 price target on shares of Alphabet and gave the company an “outperform” rating in a report on Tuesday, April 15th. Susquehanna lowered their price target on shares of Alphabet from $225.00 to $220.00 and set a “positive” rating on the stock in a report on Friday, April 25th. Roth Mkm reissued a “buy” rating and issued a $220.00 price target on shares of Alphabet in a report on Wednesday, March 19th. Bank of America increased their price target on shares of Alphabet from $185.00 to $200.00 and gave the company a “buy” rating in a report on Friday, April 25th. Finally, Westpark Capital reissued a “buy” rating and issued a $210.00 price target on shares of Alphabet in a report on Thursday, May 8th. Ten investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $199.75.

Alphabet Stock Performance

NASDAQ GOOGL opened at $176.09 on Tuesday. The firm’s fifty day moving average price is $160.52 and its two-hundred day moving average price is $174.46. The stock has a market cap of $2.14 trillion, a PE ratio of 21.87, a PEG ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84.

Alphabet (NASDAQ:GOOGL) last posted its 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 firm had revenue of $76.49 billion for the quarter, compared to analysts’ expectations of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. During the same quarter in the previous year, the firm posted $1.89 earnings per share. On average, equities analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date is Monday, June 9th. This is a boost from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s payout ratio is presently 9.36%.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $168.71, for a total transaction of $5,483,075.00. Following the sale, the chief executive officer now owns 2,587,696 shares of the company’s stock, valued at approximately $436,570,192.16. The trade was a 1.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John Kent Walker sold 11,764 shares of Alphabet stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the transaction, the insider now owns 49,037 shares in the company, valued at approximately $8,181,333.08. This trade represents a 19.35% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 195,770 shares of company stock valued at $32,036,638. 11.64% of the stock is currently owned by insiders.

Alphabet Company 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.