Vantage Point Financial LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 45.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,714 shares of the information services provider’s stock after acquiring an additional 2,101 shares during the period. Vantage Point Financial LLC’s holdings in Alphabet were worth $1,931,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of GOOGL. Norges Bank purchased a new position in shares of Alphabet in the 4th quarter worth about $30,534,239,000. Cardano Risk Management B.V. raised its holdings in Alphabet by 855.3% in the fourth quarter. Cardano Risk Management B.V. now owns 14,525,280 shares of the information services provider’s stock valued at $4,546,413,000 after buying an additional 13,004,828 shares during the period. Vanguard Group Inc. lifted its position in Alphabet by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 528,969,322 shares of the information services provider’s stock valued at $165,567,398,000 after buying an additional 12,531,695 shares in the last quarter. Capital World Investors raised its stake in shares of Alphabet by 28.0% in the 3rd quarter. Capital World Investors now owns 53,107,572 shares of the information services provider’s stock valued at $12,910,542,000 after acquiring an additional 11,605,785 shares during the period. Finally, Diamant Asset Management Inc. lifted its holdings in shares of Alphabet by 28,950.0% during the 1st quarter. Diamant Asset Management Inc. now owns 9,291,926 shares of the information services provider’s stock valued at $2,671,986,000 after acquiring an additional 9,259,940 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.
Alphabet Trading Down 1.5%
NASDAQ GOOGL opened at $342.09 on Thursday. The company has a market capitalization of $4.14 trillion, a price-to-earnings ratio of 26.09, a price-to-earnings-growth ratio of 1.44 and a beta of 1.24. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92. Alphabet Inc. has a 12 month low of $187.82 and a 12 month high of $408.61. The company’s fifty day moving average price is $366.14 and its two-hundred day moving average price is $338.86.
Alphabet Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 8th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.3%. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Monday, June 8th. Alphabet’s dividend payout ratio is currently 6.71%.
Analyst Upgrades and Downgrades
GOOGL has been the subject of several recent research reports. Dbs Bank increased their price target on Alphabet from $400.00 to $460.00 in a report on Thursday, May 7th. Robert W. Baird upped their target price on Alphabet from $380.00 to $400.00 and gave the stock an “outperform” rating in a research report on Thursday, April 30th. Phillip Securities raised their target price on Alphabet from $340.00 to $395.00 and gave the company a “moderate buy” rating in a report on Wednesday, April 15th. Sanford C. Bernstein reissued a “market perform” rating and set a $390.00 price target (up from $345.00) on shares of Alphabet in a research report on Thursday, April 30th. Finally, Cantor Fitzgerald increased their price objective on shares of Alphabet from $395.00 to $465.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Three investment analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $414.54.
Get Our Latest Analysis on Alphabet
Insider Buying and Selling
In other news, Director John L. Hennessy sold 1,050 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $368.63, for a total value of $387,061.50. Following the transaction, the director directly owned 1,481 shares in the company, valued at approximately $545,941.03. This trade represents a 41.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Marsida Saraci sold 449 shares of Alphabet stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $341.72, for a total transaction of $153,432.28. Following the completion of the transaction, the chief accounting officer directly owned 27,348 shares of the company’s stock, valued at $9,345,358.56. This trade represents a 1.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 159,415 shares of company stock worth $7,672,279. Company insiders own 11.61% of the company’s stock.
Key Headlines Impacting Alphabet
Here are the key news stories impacting Alphabet this week:
- Positive Sentiment: Alphabet beat Q2 earnings and revenue estimates by a wide margin, signaling strong underlying business momentum. Alphabet (GOOGL) Beats Q2 Earnings and Revenue Estimates
- Positive Sentiment: Google Cloud’s 82% growth suggests Alphabet’s AI spending is translating into faster cloud demand and improving monetization. Google quarterly cloud revenue growth beats expectations
- Positive Sentiment: YouTube ad revenue growth and strength across search and advertising add evidence that core businesses are still healthy. YouTube Ad Revenue Rises 13% In Q2 To Surpass $11 Billion, Helping To Drive Strong Report By Parent Alphabet
Alphabet Profile
Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.
Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.
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