Alphabet Inc. (NASDAQ:GOOG) Stock Position Raised by Revolve Wealth Partners LLC

Revolve Wealth Partners LLC lifted its position in Alphabet Inc. (NASDAQ:GOOG) by 1.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,753 shares of the information services provider’s stock after acquiring an additional 175 shares during the quarter. Revolve Wealth Partners LLC’s holdings in Alphabet were worth $1,680,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. FMR LLC lifted its position in Alphabet by 2.8% in the 4th quarter. FMR LLC now owns 117,991,725 shares of the information services provider’s stock worth $22,470,344,000 after buying an additional 3,189,592 shares in the last quarter. Geode Capital Management LLC lifted its position in Alphabet by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 104,777,092 shares of the information services provider’s stock worth $19,894,651,000 after buying an additional 1,219,606 shares in the last quarter. Capital International Investors lifted its position in Alphabet by 6.7% in the 4th quarter. Capital International Investors now owns 91,236,069 shares of the information services provider’s stock worth $17,376,706,000 after buying an additional 5,758,244 shares in the last quarter. Northern Trust Corp lifted its position in Alphabet by 16.1% in the 4th quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider’s stock worth $10,873,751,000 after buying an additional 7,917,625 shares in the last quarter. Finally, Capital Research Global Investors lifted its position in Alphabet by 0.8% in the 4th quarter. Capital Research Global Investors now owns 39,148,500 shares of the information services provider’s stock worth $7,455,571,000 after buying an additional 294,556 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Stock Performance

NASDAQ:GOOG opened at $174.92 on Friday. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $208.70. The firm’s fifty day simple moving average is $161.88 and its 200 day simple moving average is $176.05. 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 $2.12 trillion, a PE ratio of 21.73, a PEG ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOG) last posted its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. The business had revenue of $90.23 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%. Alphabet’s revenue was up 12.0% compared to the same quarter last year. During the same period last year, the business posted $1.89 EPS. On average, sell-side analysts anticipate that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.48%. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. Alphabet’s dividend payout ratio (DPR) is currently 9.36%.

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the sale, the director now directly owns 7,813 shares in the company, valued at approximately $1,293,285.89. The trade was a 2.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the sale, the chief executive officer now owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. This trade represents a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 195,770 shares of company stock worth $32,036,638 in the last ninety days. Insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

GOOG has been the subject of a number of research analyst reports. Cantor Fitzgerald reiterated a “neutral” rating and issued a $171.00 target price on shares of Alphabet in a research report on Friday, April 25th. Scotiabank cut their target price on shares of Alphabet from $232.00 to $200.00 and set a “sector outperform” rating for the company in a research report on Monday, April 21st. UBS Group cut their target price on shares of Alphabet from $209.00 to $173.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. KeyCorp cut their price target on shares of Alphabet from $202.00 to $185.00 and set an “overweight” rating on the stock in a report on Wednesday, April 9th. Finally, Citigroup restated a “sell” rating on shares of Alphabet in a report on Wednesday, April 23rd. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have assigned a buy rating and five have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $204.88.

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.