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Several hedge funds have adjusted their positions in Alphabet (GOOG). Richardson Financial Services acquired shares valued at $34,000, while Abich Financial Wealth Management increased its stake by 9,200%, now holding 186 shares valued at $34,000 after a recent purchase. Other firm investments include HWG Holdings ($40,000) and Slocum Gordon & Co LLP ($44,000). Hedge funds collectively own 27.26% of Alphabet.
New Analyst Ratings
Research analysts recently commented on Alphabet: DA Davidson upgraded it to hold, while Pivotal Research set a buy rating with a $215 target price. Rosenblatt cut its rating to neutral with a $181 target, and Oppenheimer lowered its target from $210 to $185. Overall, the stock has three hold ratings, seven buys, and an average rating of Moderate Buy with a consensus target of $183.75.
Insider Selling
Insider John Kent Walker sold 16,802 shares at $165.47 for $2.78 million, now holding 43,999 shares valued at $7.28 million. Another insider, Prabhakar Raghavan, sold 34,257 shares for $5.57 million. In total, insiders sold 193,725 shares worth $31.93 million recently, retaining 12.99% ownership.
Current Stock Performance
Alphabet shares opened at $168.42, with a 1-year low of $121.46 and a high of $193.31. The stock shows a market cap of $2.08 trillion, a PE ratio of 25.83, and a 200-day moving average of $168.51. Its last earnings report recorded $1.89 EPS, surpassing estimates, with revenues increasing by 13.6% from last year.
Dividend Update
The company declared a quarterly dividend of $0.20, paid on September 16th, with a yield of 0.48%. Alphabet’s payout ratio stands at 12.27%.
About Alphabet
Alphabet Inc. operates globally through Google Services and Google Cloud, offering a wide range of products including ads, Android, YouTube, and more.
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