Crescent Grove Advisors LLC increased its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 7.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,920 shares of the information services provider’s stock after acquiring an additional 639 shares during the quarter. Crescent Grove Advisors LLC’s holdings in Alphabet were worth $1,625,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of GOOGL. Vermillion & White Wealth Management Group LLC bought a new stake in Alphabet during the fourth quarter valued at approximately $30,000. Tributary Capital Management LLC purchased a new position in shares of Alphabet during the first quarter worth approximately $30,000. DiNuzzo Private Wealth Inc. purchased a new position in shares of Alphabet during the fourth quarter worth approximately $38,000. CarsonAllaria Wealth Management Ltd. raised its stake in shares of Alphabet by 59.2% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 293 shares of the information services provider’s stock worth $44,000 after acquiring an additional 109 shares in the last quarter. Finally, Richardson Capital Management LLC raised its stake in shares of Alphabet by 87.5% during the first quarter. Richardson Capital Management LLC now owns 300 shares of the information services provider’s stock worth $45,000 after acquiring an additional 140 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Alphabet
In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $185.85, for a total transaction of $278,775.00. Following the transaction, the director now owns 30,824 shares in the company, valued at approximately $5,728,640.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $185.85, for a total transaction of $278,775.00. Following the transaction, the director now owns 30,824 shares in the company, valued at approximately $5,728,640.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $173.86, for a total transaction of $118,572.52. Following the transaction, the chief accounting officer now owns 29,966 shares in the company, valued at approximately $5,209,888.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 156,565 shares of company stock worth $26,823,893. Company insiders own 11.55% of the company’s stock.
Wall Street Analysts Forecast Growth
Check Out Our Latest Stock Analysis on Alphabet
Alphabet Stock Performance
Shares of Alphabet stock opened at $164.68 on Wednesday. The stock has a market cap of $2.04 trillion, a price-to-earnings ratio of 25.26, a PEG ratio of 1.28 and a beta of 1.05. The firm’s 50-day moving average is $174.51 and its 200 day moving average is $163.44. Alphabet Inc. has a 1 year low of $120.21 and a 1 year high of $191.75. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.08 and a quick ratio of 2.08.
Alphabet (NASDAQ:GOOGL – Get Free Report) last announced its quarterly earnings results on Tuesday, July 23rd. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping 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 net margin of 26.70% and a return on equity of 30.49%. During the same quarter in the previous year, the business posted $1.44 EPS. Sell-side analysts anticipate that Alphabet Inc. will post 7.62 EPS for the current fiscal year.
Alphabet Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 9th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.49%. The ex-dividend date is Monday, September 9th. Alphabet’s dividend payout ratio is currently 12.27%.
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.
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