Alphabet Inc. (NASDAQ:GOOG) Stock Position Increased by OneAscent Financial Services LLC

OneAscent Financial Services LLC lifted its position in Alphabet Inc. (NASDAQ:GOOG) by 8.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,781 shares of the information services provider’s stock after buying an additional 436 shares during the period. OneAscent Financial Services LLC’s holdings in Alphabet were worth $880,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. raised its position in shares of Alphabet by 11.3% during the third quarter. JPMorgan Chase & Co. now owns 95,941,129 shares of the information services provider’s stock worth $12,649,838,000 after purchasing an additional 9,703,425 shares during the period. Capital International Investors raised its position in shares of Alphabet by 1.1% during the fourth quarter. Capital International Investors now owns 80,246,520 shares of the information services provider’s stock worth $11,309,370,000 after purchasing an additional 862,550 shares during the period. Norges Bank acquired a new stake in shares of Alphabet during the fourth quarter worth $4,101,040,000. Charles Schwab Investment Management Inc. raised its position in shares of Alphabet by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 28,800,413 shares of the information services provider’s stock worth $4,058,842,000 after purchasing an additional 481,376 shares during the period. Finally, Sanders Capital LLC raised its position in shares of Alphabet by 2.9% during the fourth quarter. Sanders Capital LLC now owns 28,558,000 shares of the information services provider’s stock worth $4,024,679,000 after purchasing an additional 813,428 shares during the period. Institutional investors own 27.26% of the company’s stock.

Alphabet Stock Down 1.8 %

Shares of NASDAQ GOOG traded down $3.44 during mid-day trading on Friday, reaching $183.42. 23,032,362 shares of the company traded hands, compared to its average volume of 17,822,788. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. The stock has a market cap of $2.27 trillion, a PE ratio of 28.13, a price-to-earnings-growth ratio of 1.40 and a beta of 1.01. The company’s fifty day moving average is $174.40 and its two-hundred day moving average is $155.53. Alphabet Inc. has a fifty-two week low of $115.83 and a fifty-two week high of $187.50.

Alphabet (NASDAQ:GOOG) last released its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.38. The firm had revenue of $80.54 billion for the quarter, compared to analyst estimates of $78.75 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The company’s revenue was up 15.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.17 EPS. On average, analysts expect that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently announced a — dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were issued a $0.20 dividend. The ex-dividend date was Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is currently 12.27%.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $177.40, for a total value of $3,991,500.00. Following the sale, the chief executive officer now owns 2,213,011 shares of the company’s stock, valued at approximately $392,588,151.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $177.92, for a total value of $266,880.00. Following the completion of the sale, the director now owns 3,727 shares in the company, valued at approximately $663,107.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $177.40, for a total value of $3,991,500.00. Following the completion of the sale, the chief executive officer now owns 2,213,011 shares of the company’s stock, valued at approximately $392,588,151.40. The disclosure for this sale can be found here. Insiders have sold 146,284 shares of company stock valued at $24,534,393 in the last 90 days. 12.99% of the stock is currently owned by insiders.

Analyst Ratings Changes

GOOG has been the topic of a number of recent analyst reports. Oppenheimer boosted their target price on Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Stifel Nicolaus lifted their price target on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Morgan Stanley reiterated an “overweight” rating and set a $165.00 price target on shares of Alphabet in a report on Thursday, April 11th. Finally, Rosenblatt Securities downgraded Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target on the stock. in a report on Friday. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $167.86.

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.