Rheos Capital Works Inc. Grows Position in Alphabet Inc. (NASDAQ:GOOG)

Rheos Capital Works Inc. grew its position in shares of Alphabet Inc. (NASDAQ:GOOGFree Report) by 1,800.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 190,000 shares of the information services provider’s stock after acquiring an additional 180,000 shares during the quarter. Alphabet accounts for approximately 1.4% of Rheos Capital Works Inc.’s portfolio, making the stock its 20th largest holding. Rheos Capital Works Inc.’s holdings in Alphabet were worth $28,929,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Fuller & Thaler Asset Management Inc. raised its holdings in shares of Alphabet by 5.4% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 17,841 shares of the information services provider’s stock valued at $2,352,000 after buying an additional 914 shares in the last quarter. Pegasus Partners Ltd. lifted its holdings in shares of Alphabet by 0.8% in the 3rd quarter. Pegasus Partners Ltd. now owns 39,263 shares of the information services provider’s stock worth $5,177,000 after acquiring an additional 301 shares during the last quarter. Operose Advisors LLC boosted its stake in shares of Alphabet by 13.4% in the 3rd quarter. Operose Advisors LLC now owns 3,306 shares of the information services provider’s stock valued at $436,000 after purchasing an additional 390 shares in the last quarter. O Shaughnessy Asset Management LLC grew its holdings in shares of Alphabet by 26.9% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 277,229 shares of the information services provider’s stock valued at $36,553,000 after purchasing an additional 58,691 shares during the last quarter. Finally, O ROURKE & COMPANY Inc raised its position in Alphabet by 2.7% in the 3rd quarter. O ROURKE & COMPANY Inc now owns 17,965 shares of the information services provider’s stock worth $2,369,000 after purchasing an additional 476 shares during the period. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on GOOG shares. Stifel Nicolaus raised their price target on Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Oppenheimer lifted their target price on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, April 8th. Finally, Morgan Stanley reissued an “overweight” rating and set a $165.00 price target on shares of Alphabet in a research report on Thursday, April 11th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $165.67.

View Our Latest Research Report on Alphabet

Insiders Place Their Bets

In other news, SVP Prabhakar Raghavan sold 3,258 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $155.97, for a total value of $508,150.26. Following the completion of the sale, the senior vice president now owns 144,685 shares in the company, valued at approximately $22,566,519.45. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 3,258 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $155.97, for a total transaction of $508,150.26. Following the sale, the senior vice president now owns 144,685 shares in the company, valued at approximately $22,566,519.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John Kent Walker sold 12,084 shares of the company’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $151.19, for a total transaction of $1,826,979.96. Following the completion of the sale, the insider now directly owns 48,717 shares in the company, valued at $7,365,523.23. The disclosure for this sale can be found here. Insiders sold 135,958 shares of company stock valued at $22,383,553 over the last three months. 12.99% of the stock is owned by company insiders.

Alphabet Stock Performance

Alphabet stock traded up $2.55 during midday trading on Friday, hitting $180.26. The stock had a trading volume of 59,728,019 shares, compared to its average volume of 14,706,858. The company has a market capitalization of $2.23 trillion, a PE ratio of 27.65, a P/E/G ratio of 1.33 and a beta of 1.01. Alphabet Inc. has a 52-week low of $115.83 and a 52-week high of $182.51. The firm’s fifty day moving average is $171.61 and its two-hundred day moving average is $154.11. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGGet Free Report) last announced its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.51 by $0.38. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business 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 business earned $1.17 earnings per share. The business’s revenue was up 15.4% on a year-over-year basis. On average, research analysts forecast that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Dividend Announcement

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

About Alphabet

(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.

Further Reading

Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGFree Report).

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.