AGF Management Ltd. raised its stake in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 125.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 184,462 shares of the information services provider's stock after acquiring an additional 102,672 shares during the period. AGF Management Ltd.'s holdings in Alphabet were worth $35,129,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in GOOG. GPS Wealth Strategies Group LLC lifted its position in Alphabet by 6.8% in the fourth quarter. GPS Wealth Strategies Group LLC now owns 16,248 shares of the information services provider's stock worth $3,094,000 after purchasing an additional 1,041 shares during the period. Coldstream Capital Management Inc. lifted its position in Alphabet by 14.4% in the third quarter. Coldstream Capital Management Inc. now owns 116,776 shares of the information services provider's stock worth $19,642,000 after purchasing an additional 14,738 shares during the period. Metis Global Partners LLC lifted its position in Alphabet by 1.4% in the third quarter. Metis Global Partners LLC now owns 301,980 shares of the information services provider's stock worth $50,488,000 after purchasing an additional 4,292 shares during the period. Requisite Capital Management LLC bought a new position in shares of Alphabet in the fourth quarter valued at $927,000. Finally, Stevens Capital Management LP increased its holdings in shares of Alphabet by 172.9% in the third quarter. Stevens Capital Management LP now owns 91,237 shares of the information services provider's stock valued at $15,254,000 after buying an additional 57,810 shares in the last quarter. 27.26% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research analysts have issued reports on GOOG shares. Citizens Jmp cut Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 2nd. Morgan Stanley reaffirmed an "overweight" rating on shares of Alphabet in a report on Wednesday, February 5th. Scotiabank upped their price target on Alphabet from $212.00 to $240.00 and gave the company a "sector outperform" rating in a report on Friday, January 24th. Wedbush reaffirmed an "outperform" rating and issued a $220.00 price target on shares of Alphabet in a report on Thursday, January 30th. Finally, Oppenheimer upped their price target on Alphabet from $215.00 to $225.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $209.13.
Check Out Our Latest Stock Analysis on GOOG
Alphabet Trading Down 1.1 %
NASDAQ GOOG opened at $165.98 on Wednesday. Alphabet Inc. has a 1-year low of $138.21 and a 1-year high of $208.70. 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 company has a market capitalization of $2.02 trillion, a PE ratio of 20.62, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. The firm's fifty day simple moving average is $188.87 and its 200-day simple moving average is $178.08.
Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping analysts' consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.
Alphabet Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date is Monday, March 10th. Alphabet's dividend payout ratio is presently 9.94%.
Insider Buying and Selling
In other Alphabet news, CAO Amie Thuener O'toole sold 1,340 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $202.08, for a total transaction of $270,787.20. Following the completion of the sale, the chief accounting officer now directly owns 17,848 shares in the company, valued at $3,606,723.84. This represents a 6.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ruth Porat sold 17,690 shares of the company's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the sale, the insider now owns 1,449,286 shares of the company's stock, valued at $265,914,995.28. This trade represents a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 97,182 shares of company stock worth $18,192,354. Corporate insiders own 12.99% of the company's stock.
About Alphabet
(
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.
Read More
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Alphabet, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Alphabet wasn't on the list.
While Alphabet currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
