Pure Financial Advisors LLC Has $3.97 Million Stake in Alphabet Inc. (NASDAQ:GOOG)

Pure Financial Advisors LLC increased its position in Alphabet Inc. (NASDAQ:GOOG) by 6.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 25,420 shares of the information services provider’s stock after buying an additional 1,532 shares during the period. Pure Financial Advisors LLC’s holdings in Alphabet were worth $3,971,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Alphabet during the 4th quarter valued at $5,166,070,000. GAMMA Investing LLC increased its position in Alphabet by 18,562.3% during the first quarter. GAMMA Investing LLC now owns 14,323,323 shares of the information services provider’s stock worth $2,237,733,000 after buying an additional 14,246,573 shares during the last quarter. Raymond James Financial Inc. bought a new position in Alphabet during the fourth quarter valued at about $1,551,533,000. Northern Trust Corp raised its holdings in Alphabet by 16.1% during 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, GQG Partners LLC lifted its position in shares of Alphabet by 181,679.1% in the fourth quarter. GQG Partners LLC now owns 7,225,721 shares of the information services provider’s stock worth $1,376,066,000 after buying an additional 7,221,746 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on GOOG shares. Needham & Company LLC lowered Alphabet from a “buy” rating to a “cautious” rating in a report on Friday, May 2nd. Tigress Financial reiterated a “strong-buy” rating on shares of Alphabet in a report on Friday, May 2nd. Oppenheimer lifted their price target on shares of Alphabet from $185.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, April 25th. Westpark Capital reaffirmed a “buy” rating and set a $210.00 price objective on shares of Alphabet in a report on Friday, April 25th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $171.00 target price on shares of Alphabet in a research note on Friday, April 25th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $204.88.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $176.68, for a total value of $5,742,100.00. Following the sale, the chief executive officer now owns 2,555,196 shares of the company’s stock, valued at $451,452,029.28. The trade was a 1.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 673 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total value of $104,537.09. Following the transaction, the chief accounting officer now owns 15,303 shares of the company’s stock, valued at $2,377,014.99. This represents a 4.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 216,195 shares of company stock valued at $35,764,898 over the last quarter. Corporate insiders own 12.99% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ GOOG opened at $174.43 on Friday. The firm has a market capitalization of $2.12 trillion, a price-to-earnings ratio of 19.45, a PEG ratio of 1.21 and a beta of 1.01. Alphabet Inc. has a one year low of $142.66 and a one year high of $208.70. The business has a fifty day simple moving average of $167.33 and a 200 day simple moving average of $176.22. 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) last announced its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.79. The firm had revenue of $90.23 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The business’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.89 EPS. Sell-side analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

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

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.