Merriman Wealth Management LLC lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 18.0% in the second quarter, Holdings Channel reports. The firm owned 7,055 shares of the information services provider’s stock after buying an additional 1,077 shares during the period. Merriman Wealth Management LLC’s holdings in Alphabet were worth $1,285,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Armistice Capital LLC boosted its stake in Alphabet by 5.6% during the 4th quarter. Armistice Capital LLC now owns 496,000 shares of the information services provider’s stock worth $69,286,000 after purchasing an additional 26,425 shares during the last quarter. Capital International Investors lifted its stake in shares of Alphabet by 2.3% in the fourth quarter. Capital International Investors now owns 30,408,933 shares of the information services provider’s stock worth $4,247,868,000 after buying an additional 686,514 shares in the last quarter. Capital International Ltd. CA boosted its position in Alphabet by 0.4% during the fourth quarter. Capital International Ltd. CA now owns 198,980 shares of the information services provider’s stock worth $27,796,000 after acquiring an additional 744 shares during the last quarter. Capital International Sarl grew its stake in Alphabet by 8.4% during the 4th quarter. Capital International Sarl now owns 293,031 shares of the information services provider’s stock valued at $40,934,000 after acquiring an additional 22,789 shares in the last quarter. Finally, Amussen Hunsaker Associates LLC raised its holdings in Alphabet by 1.0% in the 4th quarter. Amussen Hunsaker Associates LLC now owns 91,205 shares of the information services provider’s stock valued at $12,740,000 after acquiring an additional 893 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.
Insider Activity at Alphabet
In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $185.85, for a total transaction of $278,775.00. Following the sale, the director now owns 30,824 shares of the company’s stock, valued at approximately $5,728,640.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $185.85, for a total transaction of $278,775.00. Following the sale, the director now owns 30,824 shares in the company, valued at approximately $5,728,640.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $167.07, for a total value of $3,759,075.00. Following the completion of the sale, the chief executive officer now directly owns 2,129,306 shares of the company’s stock, valued at $355,743,153.42. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 217,592 shares of company stock valued at $35,922,911 over the last three months. 11.55% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
Get Our Latest Report on Alphabet
Alphabet Trading Up 0.7 %
NASDAQ GOOGL opened at $167.06 on Friday. Alphabet Inc. has a 52 week low of $120.21 and a 52 week high of $191.75. The firm has a 50 day moving average of $162.06 and a two-hundred day moving average of $167.14. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $2.06 trillion, a PE ratio of 25.62, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04.
Alphabet (NASDAQ:GOOGL – Get Free Report) last posted its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The company had revenue of $84.74 billion for the quarter, compared to analysts’ expectations of $70.60 billion. Alphabet had a return on equity of 30.49% and a net margin of 26.70%. During the same period last year, the firm earned $1.44 earnings per share. As a group, research analysts expect that Alphabet Inc. will post 7.63 EPS for the current fiscal year.
Alphabet Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 9th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend was Monday, September 9th. Alphabet’s payout ratio is 12.27%.
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.
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