Alphabet Inc. (NASDAQ:GOOG) Shares Acquired by Advisors Capital Management LLC

Advisors Capital Management LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOG) by 1.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 510,030 shares of the information services provider’s stock after purchasing an additional 6,293 shares during the quarter. Alphabet comprises 1.4% of Advisors Capital Management LLC’s investment portfolio, making the stock its 8th largest holding. Advisors Capital Management LLC’s holdings in Alphabet were worth $77,657,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital International Investors raised its position in Alphabet by 1.1% during the 4th quarter. Capital International Investors now owns 80,246,520 shares of the information services provider’s stock worth $11,309,370,000 after buying an additional 862,550 shares during the last quarter. Norges Bank purchased a new position in shares of Alphabet in the 4th quarter valued at about $4,101,040,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Alphabet by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 28,800,413 shares of the information services provider’s stock valued at $4,058,842,000 after purchasing an additional 481,376 shares in the last quarter. Sanders Capital LLC increased its holdings in shares of Alphabet by 2.9% in the 4th quarter. Sanders Capital LLC now owns 28,558,000 shares of the information services provider’s stock valued at $4,024,679,000 after purchasing an additional 813,428 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of Alphabet by 0.8% in the 4th quarter. Franklin Resources Inc. now owns 12,638,895 shares of the information services provider’s stock valued at $1,781,200,000 after purchasing an additional 97,603 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

GOOG has been the subject of a number of research analyst reports. Morgan Stanley reiterated an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a report on Thursday, April 11th. Rosenblatt Securities cut shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective on the stock. in a research note on Friday, June 28th. TD Cowen increased their price objective on shares of Alphabet from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Wednesday. Oppenheimer increased their price objective on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research note on Monday, April 8th. Finally, Stifel Nicolaus increased their price objective on shares of Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $174.38.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $186.74, for a total value of $4,201,650.00. Following the sale, the chief executive officer now directly owns 2,227,385 shares of the company’s stock, valued at $415,941,874.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $186.74, for a total value of $4,201,650.00. Following the transaction, the chief executive officer now owns 2,227,385 shares in the company, valued at $415,941,874.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $166.67, for a total transaction of $113,668.94. Following the completion of the transaction, the chief accounting officer now owns 29,284 shares in the company, valued at approximately $4,880,764.28. The disclosure for this sale can be found here. Over the last three months, insiders have sold 145,488 shares of company stock valued at $25,217,405. Insiders own 12.99% of the company’s stock.

Alphabet Trading Down 0.2 %

Shares of Alphabet stock traded down $0.38 during mid-day trading on Friday, hitting $186.92. 2,872,421 shares of the stock were exchanged, compared to its average volume of 20,618,479. Alphabet Inc. has a twelve month low of $118.68 and a twelve month high of $193.31. The stock has a market capitalization of $2.31 trillion, a price-to-earnings ratio of 28.69, a price-to-earnings-growth ratio of 1.45 and a beta of 1.05. The company has a 50-day simple moving average of $178.83 and a 200 day simple moving average of $158.76. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.38. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The company had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $78.75 billion. During the same period last year, the company earned $1.17 EPS. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. Research analysts forecast that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Announces Dividend

The business also recently announced a — dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 10th were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s dividend payout ratio is presently 12.27%.

Alphabet Company 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.