FreeGulliver LLC Takes $984,000 Position in Alphabet Inc. $GOOG

FreeGulliver LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOGFree Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 4,041 shares of the information services provider’s stock, valued at approximately $984,000.

A number of other institutional investors have also recently added to or reduced their stakes in GOOG. University of Illinois Foundation purchased a new position in Alphabet in the second quarter valued at about $31,000. Manning & Napier Advisors LLC purchased a new stake in shares of Alphabet during the 3rd quarter worth approximately $32,000. Tripletail Wealth Management LLC acquired a new stake in shares of Alphabet in the 3rd quarter worth approximately $40,000. Retirement Wealth Solutions LLC grew its holdings in shares of Alphabet by 145.0% in the 3rd quarter. Retirement Wealth Solutions LLC now owns 196 shares of the information services provider’s stock worth $48,000 after acquiring an additional 116 shares during the period. Finally, Bay Harbor Wealth Management LLC increased its stake in Alphabet by 56.8% in the 3rd quarter. Bay Harbor Wealth Management LLC now owns 218 shares of the information services provider’s stock valued at $53,000 after purchasing an additional 79 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on GOOG. UBS Group reaffirmed a “neutral” rating and set a $348.00 price objective (up from $345.00) on shares of Alphabet in a report on Thursday, February 12th. Needham & Company LLC set a $400.00 target price on Alphabet and gave the company a “buy” rating in a report on Friday. Piper Sandler reaffirmed an “overweight” rating and set a $395.00 price target on shares of Alphabet in a research note on Thursday, February 5th. Wells Fargo & Company raised Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 23rd. Finally, Raymond James Financial upgraded shares of Alphabet from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the stock from $315.00 to $400.00 in a research report on Thursday, January 22nd. Nine equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $345.71.

View Our Latest Analysis on Alphabet

Alphabet Price Performance

Shares of NASDAQ:GOOG opened at $301.46 on Friday. The business’s fifty day moving average price is $319.36 and its two-hundred day moving average price is $289.75. The stock has a market cap of $3.65 trillion, a PE ratio of 27.89, a price-to-earnings-growth ratio of 1.78 and a beta of 1.10. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.01 and a current ratio of 2.01. Alphabet Inc. has a one year low of $142.66 and a one year high of $350.15.

Alphabet (NASDAQ:GOOGGet Free Report) last released its quarterly earnings results on Thursday, February 5th. The information services provider reported $2.82 earnings per share for the quarter, topping analysts’ consensus estimates of $2.59 by $0.23. Alphabet had a return on equity of 35.01% and a net margin of 32.81%.The company had revenue of $113.83 billion during the quarter, compared to analysts’ expectations of $111.24 billion. During the same period in the previous year, the firm posted $2.15 earnings per share. The business’s revenue for the quarter was up 18.0% compared to the same quarter last year. On average, analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 9th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Monday, March 9th. Alphabet’s dividend payout ratio (DPR) is currently 7.77%.

Insider Activity

In other news, major shareholder 2017 Gp L.L.C. Gv sold 1,845,308 shares of Alphabet stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $19.00, for a total transaction of $35,060,852.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $321.21, for a total transaction of $10,439,325.00. Following the completion of the transaction, the chief executive officer directly owned 2,244,372 shares of the company’s stock, valued at approximately $720,914,730.12. This represents a 1.43% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 2,112,493 shares of company stock worth $118,605,094. Company insiders own 12.99% of the company’s stock.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

Alphabet Profile

(Free Report)

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

See Also

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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