Armis Advisers LLC Invests $1.70 Million in Alphabet Inc. (NASDAQ:GOOG)
Armis Advisers LLC invested $1.70 million in Alphabet Inc. (NASDAQ:GOOG) during Q4, acquiring 8,932 shares. Other institutional investors also increased their stakes. Analysts have mixed ratings on Alphabet, with a consensus rating of "Moderate Buy" and an average target price of $203.94. Recent insider transactions saw significant share sales. Alphabet's stock opened at $169.59, with a market cap of $2.06 trillion and a P/E ratio of 21.07. The company reported strong earnings, exceeding estimates with $2.81 EPS and $90.23 billion in revenue for the last quarter.
Armis Advisers LLC bought a new position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 8,932 shares of the information services provider's stock, valued at approximately $1,701,000.
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Other institutional investors have also recently added to or reduced their stakes in the company. Fiduciary Advisors Inc. bought a new position in Alphabet in the 4th quarter valued at about $27,000. LSV Asset Management purchased a new stake in Alphabet during the fourth quarter valued at about $27,000. WealthTrak Capital Management LLC purchased a new stake in Alphabet during the fourth quarter valued at about $38,000. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Alphabet in the fourth quarter worth approximately $39,000. Finally, Noble Wealth Management PBC acquired a new position in Alphabet in the 4th quarter valued at approximately $43,000. 27.26% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research firms have commented on GOOG. Wedbush reissued an "outperform" rating and issued a $220.00 target price on shares of Alphabet in a research report on Thursday, January 30th. Cantor Fitzgerald reissued a "neutral" rating and issued a $171.00 price target on shares of Alphabet in a report on Friday, April 25th. Citigroup restated a "sell" rating on shares of Alphabet in a research report on Wednesday, April 23rd. Scotiabank dropped their price target on shares of Alphabet from $232.00 to $200.00 and set a "sector outperform" rating for the company in a research report on Monday, April 21st. Finally, UBS Group reduced their target price on shares of Alphabet from $209.00 to $173.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Three research analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and five have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $203.94.
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View Our Latest Stock Report on GOOG
Insider Transactions at Alphabet
In other news, CAO Amie Thuener O'toole sold 1,374 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $173.47, for a total value of $238,347.78. Following the transaction, the chief accounting officer now owns 15,024 shares of the company's stock, valued at approximately $2,606,213.28. The trade was a 8.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 600 shares of the business's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $105,000.00. Following the transaction, the director now owns 6,813 shares in the company, valued at $1,192,275. This trade represents a 8.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold 164,654 shares of company stock worth $26,793,380 over the last three months. 12.99% of the stock is currently owned by company insiders.
Alphabet Price Performance
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Shares of Alphabet stock opened at $169.59 on Friday. The stock has a market capitalization of $2.06 trillion, a price-to-earnings ratio of 21.07, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The company has a fifty day moving average of $160.47 and a 200-day moving average of $176.60. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $208.70.
Alphabet (NASDAQ:GOOG - Get Free Report) last posted its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.02 by $0.79. The firm had revenue of $90.23 billion during the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The company's quarterly revenue was up 12.0% compared to the same quarter last year. During the same period last year, the company posted $1.89 EPS. Equities research analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.
Alphabet Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, June 9th. This is a positive change from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.50%. Alphabet's payout ratio is currently 9.36%.
Alphabet 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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