Gray Foundation Purchases New Shares in Alphabet Inc. (NASDAQ:GOOG)

Gray Foundation purchased a new stake in shares of Alphabet Inc. (NASDAQ:GOOGFree Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 112,000 shares of the information services provider’s stock, valued at approximately $15,784,000. Alphabet makes up 5.6% of Gray Foundation’s investment portfolio, making the stock its 5th largest position.

Several other hedge funds also recently added to or reduced their stakes in GOOG. Norges Bank bought a new position in shares of Alphabet in the 4th quarter worth about $4,101,040,000. JPMorgan Chase & Co. lifted its position in shares of Alphabet by 11.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock worth $12,649,838,000 after buying an additional 9,703,425 shares during the last quarter. International Assets Investment Management LLC bought a new position in shares of Alphabet in the 4th quarter worth about $11,600,970,000. FMR LLC lifted its position in shares of Alphabet by 3.8% in the 3rd quarter. FMR LLC now owns 120,234,117 shares of the information services provider’s stock worth $15,852,868,000 after buying an additional 4,348,188 shares during the last quarter. Finally, Cerity Partners LLC lifted its position in shares of Alphabet by 198.7% in the 4th quarter. Cerity Partners LLC now owns 3,882,882 shares of the information services provider’s stock worth $547,215,000 after buying an additional 2,583,128 shares during the last quarter. 27.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Stifel Nicolaus raised their price target on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Morgan Stanley reiterated an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a research report on Thursday, April 11th. Finally, Oppenheimer lifted their price objective on shares of Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, Alphabet presently has a consensus rating of “Buy” and a consensus price target of $165.67.

Read Our Latest Stock Analysis on Alphabet

Alphabet Stock Performance

NASDAQ:GOOG traded up $1.28 during mid-day trading on Thursday, hitting $178.35. The stock had a trading volume of 14,242,916 shares, compared to its average volume of 21,612,500. The stock has a market capitalization of $2.20 trillion, a price-to-earnings ratio of 27.35, a P/E/G ratio of 1.30 and a beta of 1.01. The company has a 50 day simple moving average of $166.89 and a 200-day simple moving average of $150.69. Alphabet Inc. has a 52 week low of $115.83 and a 52 week high of $179.95. 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:GOOGGet Free Report) last released its earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.51 by $0.38. The firm had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $78.75 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. Alphabet’s quarterly revenue was up 15.4% on a year-over-year basis. During the same quarter last year, the company earned $1.17 EPS. On average, research analysts expect that Alphabet Inc. will post 7.69 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a — dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 10th. Alphabet’s payout ratio is 12.27%.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $176.58, for a total value of $3,973,050.00. Following the transaction, the chief executive officer now owns 2,235,511 shares of the company’s stock, valued at approximately $394,746,532.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Ruth Porat sold 48,077 shares of Alphabet stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $137.22, for a total value of $6,597,125.94. Following the transaction, the chief financial officer now owns 1,777,106 shares of the company’s stock, valued at approximately $243,854,485.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $176.58, for a total transaction of $3,973,050.00. Following the completion of the transaction, the chief executive officer now directly owns 2,235,511 shares in the company, valued at $394,746,532.38. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 205,835 shares of company stock valued at $32,177,952. Company insiders own 12.99% of the company’s stock.

Alphabet Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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