Alphabet Inc. (NASDAQ:GOOGL) Shares Bought by Baird Financial Group Inc. (2024)

Baird Financial Group Inc. boosted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 55.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,935,571 shares of the information services provider’s stock after acquiring an additional 688,822 shares during the quarter. Baird Financial Group Inc.’s holdings in Alphabet were worth $270,380,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Barden Capital Management Inc. raised its stake in shares of Alphabet by 490.8% during the 4th quarter. Barden Capital Management Inc. now owns 11,580 shares of the information services provider’s stock worth $1,536,000 after buying an additional 9,620 shares in the last quarter. Bell Investment Advisors Inc raised its stake in shares of Alphabet by 1.6% during the 4th quarter. Bell Investment Advisors Inc now owns 8,906 shares of the information services provider’s stock worth $1,244,000 after buying an additional 143 shares in the last quarter. Blackstone Inc. raised its stake in shares of Alphabet by 15.8% during the 4th quarter. Blackstone Inc. now owns 110,000 shares of the information services provider’s stock worth $15,366,000 after buying an additional 15,000 shares in the last quarter. Brevan Howard Capital Management LP purchased a new position in shares of Alphabet during the 4th quarter worth approximately $2,541,000. Finally, Bridgefront Capital LLC raised its stake in shares of Alphabet by 84.2% during the 4th quarter. Bridgefront Capital LLC now owns 3,949 shares of the information services provider’s stock worth $552,000 after buying an additional 1,805 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $148.78, for a total value of $3,347,550.00. Following the transaction, the chief executive officer now owns 2,310,191 shares in the company, valued at $343,710,216.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $148.78, for a total value of $3,347,550.00. Following the transaction, the chief executive officer now directly owns 2,310,191 shares of the company’s stock, valued at $343,710,216.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Prabhakar Raghavan sold 3,258 shares of the firm’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 transaction, the senior vice president now directly owns 144,685 shares in the company, valued at $22,566,519.45. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 158,958 shares of company stock worth $25,805,853. 11.55% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Want More Great Investing Ideas?

GOOGL has been the subject of a number of analyst reports. Royal Bank of Canada increased their target price on Alphabet from $155.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. KeyCorp raised their price objective on Alphabet from $165.00 to $175.00 and gave the company an “overweight” rating in a research note on Monday, April 22nd. Piper Sandler reaffirmed an “overweight” rating and issued a $200.00 price objective (up from $160.00) on shares of Alphabet in a research note on Friday, April 26th. Loop Capital raised their price objective on Alphabet from $155.00 to $170.00 and gave the company a “hold” rating in a research note on Wednesday, May 1st. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $215.00 price objective on shares of Alphabet in a research note on Wednesday, May 15th. Five research analysts have rated the stock with a hold rating, thirty have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $193.26.

View Our Latest Stock Analysis on GOOGL

Alphabet Price Performance

GOOGL stock opened at $177.79 on Thursday. Alphabet Inc. has a 52-week low of $115.35 and a 52-week high of $180.41. The stock has a market capitalization of $2.20 trillion, a price-to-earnings ratio of 27.27, a price-to-earnings-growth ratio of 1.31 and a beta of 1.01. 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 stock’s fifty day simple moving average is $167.10 and its 200-day simple moving average is $150.45.

Alphabet (NASDAQ:GOOGL – Get Free Report) last issued its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The firm had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $66.04 billion. During the same quarter last year, the firm earned $1.17 earnings per share. Equities research analysts expect that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend is Monday, June 10th. Alphabet’s payout ratio is currently 12.27%.

Alphabet Profile

(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.