Alphabet Inc. (NASDAQ:GOOG) is Forge First Asset Management Inc.’s 6th Largest Position

Forge First Asset Management Inc. lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 56.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 87,600 shares of the information services provider’s stock after buying an additional 31,600 shares during the period. Alphabet comprises 4.2% of Forge First Asset Management Inc.’s investment portfolio, making the stock its 6th biggest holding. Forge First Asset Management Inc.’s holdings in Alphabet were worth $13,332,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Bruce G. Allen Investments LLC acquired a new stake in shares of Alphabet in the 4th quarter worth approximately $26,000. BKM Wealth Management LLC acquired a new stake in Alphabet during the 4th quarter valued at $175,000. BluePath Capital Management LLC grew its holdings in Alphabet by 6.7% during the 4th quarter. BluePath Capital Management LLC now owns 7,424 shares of the information services provider’s stock valued at $1,068,000 after buying an additional 469 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in Alphabet during the 4th quarter valued at $147,246,000. Finally, Unique Wealth LLC grew its holdings in Alphabet by 21.3% during the 4th quarter. Unique Wealth LLC now owns 3,074 shares of the information services provider’s stock valued at $433,000 after buying an additional 540 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Up 0.1 %

Shares of NASDAQ GOOG traded up $0.17 during midday trading on Friday, reaching $179.39. 14,485,899 shares of the company’s stock were exchanged, compared to its average volume of 15,891,877. Alphabet Inc. has a 52-week low of $118.68 and a 52-week high of $193.31. The stock has a market capitalization of $2.22 trillion, a PE ratio of 27.51, a price-to-earnings-growth ratio of 1.34 and a beta of 1.05. 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 business’s fifty day moving average price is $180.37 and its two-hundred day moving average price is $160.51.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.38. The business had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $78.75 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The company’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same period last year, the firm earned $1.17 earnings per share. Analysts forecast that Alphabet Inc. will post 7.61 EPS for the current year.

Alphabet Dividend Announcement

The company also recently declared a — dividend, which was paid on Monday, June 17th. Investors 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 12.27%.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $182.84, for a total value of $4,113,900.00. Following the completion of the transaction, the chief executive officer now directly owns 2,204,885 shares in the company, valued at $403,141,173.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Alphabet news, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $185.85, for a total value of $278,775.00. Following the completion of the transaction, the director now directly owns 30,824 shares in the company, valued at $5,728,640.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $182.84, for a total value of $4,113,900.00. Following the completion of the transaction, the chief executive officer now owns 2,204,885 shares of the company’s stock, valued at $403,141,173.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 146,988 shares of company stock worth $26,068,355. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on GOOG. Stifel Nicolaus increased their target price on Alphabet from $154.00 to $174.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. TD Cowen increased their target price on Alphabet from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Wolfe Research raised Alphabet to a “strong-buy” rating in a research report on Tuesday. Morgan Stanley reissued an “overweight” rating and issued a $165.00 price objective on shares of Alphabet in a research report on Thursday, April 11th. Finally, Rosenblatt Securities lowered Alphabet from a “buy” rating to a “neutral” rating and set a $181.00 price objective on the stock. in a research report on Friday, June 28th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Alphabet 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.