FIL Ltd lowered its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 7.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,673,559 shares of the information services provider's stock after selling 949,105 shares during the period. Alphabet accounts for approximately 2.1% of FIL Ltd's holdings, making the stock its 4th biggest holding. FIL Ltd owned 0.10% of Alphabet worth $2,209,805,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in GOOGL. FMR LLC raised its holdings in Alphabet by 9.8% in the fourth quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock worth $47,025,322,000 after purchasing an additional 22,100,902 shares in the last quarter. State Street Corp boosted its holdings in shares of Alphabet by 0.3% during the 3rd quarter. State Street Corp now owns 222,555,548 shares of the information services provider's stock valued at $36,910,838,000 after buying an additional 743,369 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Alphabet by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider's stock worth $22,154,651,000 after buying an additional 2,626,431 shares during the period. Norges Bank bought a new position in shares of Alphabet in the 4th quarter worth about $24,383,677,000. Finally, Wellington Management Group LLP lifted its position in Alphabet by 15.9% during the 4th quarter. Wellington Management Group LLP now owns 66,050,135 shares of the information services provider's stock valued at $12,503,291,000 after acquiring an additional 9,042,271 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.
Alphabet Price Performance
GOOGL stock traded down $2.76 during midday trading on Tuesday, hitting $156.31. The company's stock had a trading volume of 27,453,571 shares, compared to its average volume of 28,219,399. The firm has a market capitalization of $1.91 trillion, a price-to-earnings ratio of 19.42, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05. The company has a 50 day moving average of $167.87 and a two-hundred day moving average of $176.28.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. On average, analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.
Alphabet Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were given a dividend of $0.20 per share. The ex-dividend date was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.51%. Alphabet's dividend payout ratio is currently 9.94%.
Insider Activity at Alphabet
In other news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the sale, the chief executive officer now directly owns 2,717,696 shares of the company's stock, valued at $430,917,877.76. This trade represents a 1.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O'toole sold 1,340 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total value of $270,787.20. Following the transaction, the chief accounting officer now directly owns 17,848 shares in the company, valued at approximately $3,606,723.84. This represents a 6.98 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 118,497 shares of company stock valued at $20,837,150. 11.55% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on GOOGL. DZ Bank cut shares of Alphabet from a "buy" rating to a "hold" rating and set a $198.00 price objective on the stock. in a report on Thursday, February 6th. Jefferies Financial Group cut their price target on Alphabet from $235.00 to $200.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Needham & Company LLC reiterated a "buy" rating and set a $225.00 price objective on shares of Alphabet in a research note on Wednesday, February 5th. Piper Sandler cut their target price on Alphabet from $208.00 to $185.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Finally, JMP Securities restated a "market perform" rating on shares of Alphabet in a report on Thursday, April 10th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and five have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $204.72.
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Alphabet Profile
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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.
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