Alphabet Inc. (NASDAQ:GOOGL) Shares Acquired by MKT Advisors LLC

MKT Advisors LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 2.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,589 shares of the information services provider’s stock after purchasing an additional 195 shares during the quarter. MKT Advisors LLC’s holdings in Alphabet were worth $1,114,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Alphabet in the 4th quarter valued at approximately $24,383,677,000. FMR LLC lifted its holdings in shares of Alphabet by 9.8% during the fourth quarter. FMR LLC now owns 248,416,916 shares of the information services provider’s stock worth $47,025,322,000 after purchasing an additional 22,100,902 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Alphabet by 16,993.2% during the first quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider’s stock worth $2,483,898,000 after purchasing an additional 15,968,487 shares during the period. Northern Trust Corp grew its position in Alphabet by 17.0% in the 4th quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider’s stock valued at $13,178,470,000 after buying an additional 10,135,430 shares during the last quarter. Finally, Capital Research Global Investors increased its stake in Alphabet by 16.2% in the 4th quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider’s stock valued at $13,635,878,000 after buying an additional 10,037,685 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $173.68 on Friday. The company has a 50-day simple moving average of $160.14 and a 200-day simple moving average of $174.35. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The company has a market cap of $2.11 trillion, a PE ratio of 21.58, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) 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 analyst estimates of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. During the same quarter last year, the business earned $1.89 earnings per share. On average, equities analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be issued a dividend of $0.21 per share. This is a boost from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.48%. Alphabet’s dividend payout ratio (DPR) is 9.36%.

Insider Activity

In other Alphabet news, Director John L. Hennessy sold 200 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the transaction, the director now owns 7,813 shares of the company’s stock, valued at $1,293,285.89. This trade represents a 2.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $168.71, for a total value 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 disclosure for this sale can be found here. Insiders sold a total of 195,770 shares of company stock valued at $32,036,638 over the last quarter. Company insiders own 11.64% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of several recent analyst reports. Mizuho reduced their target price on shares of Alphabet from $230.00 to $205.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. Wells Fargo & Company increased their price target on shares of Alphabet from $167.00 to $175.00 and gave the stock an “equal weight” rating in a report on Friday, April 25th. UBS Group set a $195.00 price objective on Alphabet in a report on Friday, April 25th. DA Davidson dropped their target price on Alphabet from $200.00 to $160.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Finally, Tigress Financial increased their target price on Alphabet from $220.00 to $240.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, April 30th. Ten research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $199.75.

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.