Alphabet Inc. (NASDAQ:GOOG) is Wynn Capital LLC’s 6th Largest Position

Wynn Capital LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 1.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,712 shares of the information services provider’s stock after purchasing an additional 403 shares during the period. Alphabet makes up 2.8% of Wynn Capital LLC’s investment portfolio, making the stock its 6th largest holding. Wynn Capital LLC’s holdings in Alphabet were worth $4,642,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Norges Bank purchased a new stake in Alphabet during the fourth quarter valued at approximately $5,166,070,000. GAMMA Investing LLC increased its holdings in Alphabet by 18,562.3% during the first quarter. GAMMA Investing LLC now owns 14,323,323 shares of the information services provider’s stock valued at $2,237,733,000 after buying an additional 14,246,573 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Alphabet during the fourth quarter valued at approximately $1,551,533,000. Northern Trust Corp increased its holdings in Alphabet by 16.1% during the fourth quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider’s stock valued at $10,873,751,000 after buying an additional 7,917,625 shares during the last quarter. Finally, GQG Partners LLC increased its holdings in Alphabet by 181,679.1% during the fourth quarter. GQG Partners LLC now owns 7,225,721 shares of the information services provider’s stock valued at $1,376,066,000 after buying an additional 7,221,746 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Scotiabank reduced their target price on shares of Alphabet from $232.00 to $200.00 and set a “sector outperform” rating for the company in a report on Monday, April 21st. Cantor Fitzgerald reissued a “neutral” rating and issued a $171.00 price objective on shares of Alphabet in a research note on Friday, April 25th. Oppenheimer increased their price objective on shares of Alphabet from $185.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, April 25th. The Goldman Sachs Group reissued a “buy” rating and issued a $220.00 price objective on shares of Alphabet in a research note on Monday, June 2nd. Finally, Citigroup reissued a “sell” rating on shares of Alphabet in a research note on Wednesday, April 23rd. Three research analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $204.88.

Alphabet Trading Up 3.0%

Shares of Alphabet stock opened at $174.92 on Friday. The firm has a market cap of $2.12 trillion, a price-to-earnings ratio of 21.73, a PEG ratio of 1.34 and a beta of 1.01. The business has a 50-day moving average price of $161.88 and a 200-day moving average price of $176.05. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a twelve month low of $142.66 and a twelve month high of $208.70.

Alphabet (NASDAQ:GOOG) last issued its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The firm had revenue of $90.23 billion during the quarter, compared to analyst estimates of $89.30 billion. During the same quarter last year, the business posted $1.89 earnings per share. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. Equities research analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Increases Dividend

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

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 673 shares of Alphabet stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total value of $104,537.09. Following the completion of the transaction, the chief accounting officer now directly owns 15,303 shares of the company’s stock, valued at $2,377,014.99. This trade represents a 4.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $168.71, for a total transaction of $5,483,075.00. Following the completion of the transaction, the chief executive officer now directly owns 2,587,696 shares of the company’s stock, valued at $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 195,770 shares of company stock valued at $32,036,638 in the last three months. Corporate insiders own 12.99% of the company’s stock.

About Alphabet

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.