16,522 Shares in Alphabet Inc. (NASDAQ:GOOG) Acquired by 111 Capital

111 Capital bought a new position in Alphabet Inc. (NASDAQ:GOOG) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 16,522 shares of the information services provider’s stock, valued at approximately $3,146,000. Alphabet accounts for approximately 0.7% of 111 Capital’s holdings, making the stock its 26th biggest position.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOOG. Fiduciary Advisors Inc. acquired a new position in Alphabet during the fourth quarter valued at $27,000. LSV Asset Management purchased a new position in Alphabet during the fourth quarter valued at approximately $27,000. WealthTrak Capital Management LLC purchased a new stake in Alphabet in the 4th quarter worth approximately $38,000. Mountain Hill Investment Partners Corp. purchased a new position in shares of Alphabet during the 4th quarter valued at $39,000. Finally, Noble Wealth Management PBC purchased a new stake in shares of Alphabet during the fourth quarter worth $43,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insider Activity

In other Alphabet news, Director John L. Hennessy sold 600 shares of the firm’s stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $105,000.00. Following the sale, the director now directly owns 6,813 shares in the company, valued at approximately $1,192,275. This trade represents a 8.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 1,374 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $173.47, for a total transaction of $238,347.78. Following the completion of the transaction, the chief accounting officer now owns 15,024 shares of the company’s stock, valued at $2,606,213.28. This trade represents a 8.38% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 164,654 shares of company stock valued at $26,793,380 in the last ninety days. 12.99% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on GOOG shares. Scotiabank dropped their price objective on Alphabet from $232.00 to $200.00 and set a “sector outperform” rating on the stock in a report on Monday, April 21st. Needham & Company LLC downgraded shares of Alphabet from a “buy” rating to a “cautious” rating in a report on Friday, May 2nd. UBS Group decreased their price objective on shares of Alphabet from $209.00 to $173.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Morgan Stanley restated an “overweight” rating on shares of Alphabet in a report on Wednesday, February 5th. Finally, Westpark Capital reiterated a “buy” rating and set a $210.00 price target on shares of Alphabet in a research note on Friday, April 25th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and five have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $203.94.

Alphabet Stock Up 2.6%

Shares of NASDAQ GOOG opened at $173.98 on Wednesday. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70. The firm’s 50-day moving average is $160.72 and its 200-day moving average is $176.47. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $2.11 trillion, a PE ratio of 21.61, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. The firm had revenue of $90.23 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.89 EPS. Equities analysts expect that Alphabet Inc. will post 8.89 EPS for the current 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 issued a dividend of $0.21 per share. The ex-dividend date is 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 dividend payout ratio (DPR) is 9.36%.

Alphabet 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.