Larson Financial Group LLC Boosts Stake in Alphabet Inc. (NASDAQ:GOOG)

Larson Financial Group LLC lifted its position in Alphabet Inc. (NASDAQ:GOOGFree Report) by 2.9% in the 1st quarter, Holdings Channel.com reports. The fund owned 39,533 shares of the information services provider’s stock after acquiring an additional 1,102 shares during the period. Larson Financial Group LLC’s holdings in Alphabet were worth $6,019,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Capital International Investors lifted its holdings in shares of Alphabet by 1.1% in the 4th quarter. Capital International Investors now owns 80,246,520 shares of the information services provider’s stock worth $11,309,370,000 after purchasing an additional 862,550 shares during the last quarter. Norges Bank bought a new stake in shares of Alphabet in the 4th quarter worth approximately $4,101,040,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Alphabet by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 28,800,413 shares of the information services provider’s stock worth $4,058,842,000 after purchasing an additional 481,376 shares during the last quarter. Sanders Capital LLC lifted its holdings in shares of Alphabet by 2.9% in the 4th quarter. Sanders Capital LLC now owns 28,558,000 shares of the information services provider’s stock worth $4,024,679,000 after purchasing an additional 813,428 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of Alphabet by 0.8% in the 4th quarter. Franklin Resources Inc. now owns 12,638,895 shares of the information services provider’s stock worth $1,781,200,000 after purchasing an additional 97,603 shares during the last quarter. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Activity

In other news, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction on Friday, April 12th. The stock was sold at an average price of $159.56, for a total transaction of $127,648.00. Following the transaction, the director now owns 7,991 shares in the company, valued at $1,275,043.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction on Friday, April 12th. The stock was sold at an average price of $159.56, for a total transaction of $127,648.00. Following the transaction, the director now owns 7,991 shares in the company, valued at $1,275,043.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $157.41, for a total value of $3,541,725.00. Following the transaction, the chief executive officer now owns 2,303,011 shares in the company, valued at approximately $362,516,961.51. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 146,288 shares of company stock worth $25,345,053. 12.99% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target on the stock. in a report on Friday, June 28th. TD Cowen lifted their price target on Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Wednesday. Morgan Stanley reiterated an “overweight” rating and set a $165.00 price target on shares of Alphabet in a research report on Thursday, April 11th. Oppenheimer lifted their price target on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Finally, Stifel Nicolaus lifted their price target on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $174.38.

Check Out Our Latest Stock Analysis on GOOG

Alphabet Price Performance

Shares of NASDAQ GOOG traded up $2.22 during mid-day trading on Wednesday, reaching $192.66. The company had a trading volume of 11,800,889 shares, compared to its average volume of 20,786,955. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. The stock has a market cap of $2.38 trillion, a PE ratio of 29.59, a P/E/G ratio of 1.43 and a beta of 1.05. The company has a 50-day moving average price of $177.92 and a two-hundred day moving average price of $158.32. Alphabet Inc. has a 1-year low of $115.83 and a 1-year high of $193.31.

Alphabet (NASDAQ:GOOGGet Free Report) last issued its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.38. The business had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $78.75 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The company’s quarterly revenue was up 15.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.17 EPS. On average, equities analysts anticipate that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently announced a — dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were issued a $0.20 dividend. The ex-dividend date was Monday, June 10th. Alphabet’s payout ratio is 12.27%.

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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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