Alphabet Inc. (NASDAQ:GOOG) is ProShare Advisors LLC’s 10th Largest Position

ProShare Advisors LLC lifted its position in shares of Alphabet Inc. (NASDAQ:GOOG) by 16.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,779,326 shares of the information services provider’s stock after purchasing an additional 398,582 shares during the period. Alphabet comprises 1.1% of ProShare Advisors LLC’s portfolio, making the stock its 10th largest position. ProShare Advisors LLC’s holdings in Alphabet were worth $423,180,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in GOOG. Bruce G. Allen Investments LLC bought a new position in shares of Alphabet in the 4th quarter worth about $26,000. Partnership Wealth Management LLC acquired a new stake in shares of Alphabet during the 4th quarter worth approximately $26,000. Equitec Proprietary Markets LLC bought a new stake in shares of Alphabet in the 4th quarter worth approximately $28,000. DiNuzzo Private Wealth Inc. bought a new position in Alphabet during the 4th quarter worth $32,000. Finally, Pacific Capital Wealth Advisors Inc. bought a new stake in Alphabet in the fourth quarter valued at $34,000. 27.26% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total value of $113,668.94. Following the transaction, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at approximately $4,880,764.28. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CAO Amie Thuener O’toole sold 682 shares of the stock in a transaction 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 transaction, the chief accounting officer now owns 29,284 shares in the company, valued at approximately $4,880,764.28. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John L. Hennessy sold 2,100 shares of Alphabet stock in a transaction on Friday, April 26th. The shares were sold at an average price of $175.76, for a total transaction of $369,096.00. Following the completion of the sale, the director now directly owns 5,891 shares of the company’s stock, valued at approximately $1,035,402.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 124,488 shares of company stock worth $21,954,455. Corporate insiders own 12.99% of the company’s stock.

Alphabet Price Performance

NASDAQ:GOOG traded down $2.58 during trading hours on Wednesday, reaching $182.92. 10,997,533 shares of the company’s stock were exchanged, compared to its average volume of 20,516,088. The business’s 50-day simple moving average is $179.81 and its two-hundred day simple moving average is $159.95. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $2.26 trillion, a P/E ratio of 27.91, a price-to-earnings-growth ratio of 1.41 and a beta of 1.05. Alphabet Inc. has a 12 month low of $118.68 and a 12 month high of $193.31.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.38. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The firm had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $78.75 billion. During the same period in the previous year, the firm posted $1.17 earnings per share. The firm’s revenue was up 15.4% on a year-over-year basis. Sell-side analysts expect that Alphabet Inc. will post 7.61 EPS for the current fiscal year.

Alphabet Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on GOOG shares. Oppenheimer upped their price target on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, April 8th. Rosenblatt Securities lowered shares of Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price target on the stock. in a research note on Friday, June 28th. Stifel Nicolaus increased their price objective on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Morgan Stanley restated an “overweight” rating and issued a $165.00 target price on shares of Alphabet in a research report on Thursday, April 11th. Finally, Wolfe Research raised shares of Alphabet to a “strong-buy” rating in a report on Tuesday. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $174.38.

Alphabet 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.