Erste Asset Management GmbH grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 11.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,348,875 shares of the information services provider's stock after acquiring an additional 142,583 shares during the quarter. Alphabet comprises approximately 3.0% of Erste Asset Management GmbH's holdings, making the stock its 4th largest position. Erste Asset Management GmbH's holdings in Alphabet were worth $247,605,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of GOOGL. Pettinga Financial Advisors LLC lifted its position in Alphabet by 10.1% in the third quarter. Pettinga Financial Advisors LLC now owns 2,186 shares of the information services provider's stock worth $363,000 after purchasing an additional 201 shares during the period. Impax Asset Management Group plc lifted its holdings in shares of Alphabet by 6.8% in the third quarter. Impax Asset Management Group plc now owns 728,575 shares of the information services provider's stock valued at $120,834,000 after buying an additional 46,677 shares during the period. Principal Financial Group Inc. boosted its stake in Alphabet by 3.1% during the third quarter. Principal Financial Group Inc. now owns 11,283,594 shares of the information services provider's stock valued at $1,871,384,000 after buying an additional 337,031 shares in the last quarter. Legacy Capital Wealth Partners LLC grew its holdings in Alphabet by 26.7% during the third quarter. Legacy Capital Wealth Partners LLC now owns 8,304 shares of the information services provider's stock worth $1,377,000 after acquiring an additional 1,749 shares during the period. Finally, Round Rock Advisors LLC raised its position in Alphabet by 7.5% in the third quarter. Round Rock Advisors LLC now owns 9,324 shares of the information services provider's stock worth $1,546,000 after acquiring an additional 649 shares in the last quarter. Institutional investors own 40.03% of the company's stock.
Analysts Set New Price Targets
Several brokerages have recently issued reports on GOOGL. Roth Mkm reaffirmed a "buy" rating and issued a $220.00 price objective on shares of Alphabet in a research note on Wednesday, March 19th. Robert W. Baird restated an "outperform" rating and issued a $205.00 price target on shares of Alphabet in a research report on Tuesday, December 10th. Piper Sandler cut their price objective on Alphabet from $210.00 to $208.00 and set an "overweight" rating for the company in a research report on Wednesday, February 5th. DA Davidson lifted their target price on Alphabet from $190.00 to $200.00 and gave the stock a "neutral" rating in a report on Friday, January 24th. Finally, DZ Bank lowered Alphabet from a "buy" rating to a "hold" rating and set a $198.00 target price on the stock. in a research report on Thursday, February 6th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $210.59.
Get Our Latest Stock Analysis on GOOGL
Alphabet Stock Down 2.6 %
Shares of NASDAQ GOOGL traded down $4.42 during mid-day trading on Wednesday, reaching $166.14. 13,643,897 shares of the company traded hands, compared to its average volume of 30,132,676. The company's fifty day moving average is $181.72 and its two-hundred day moving average is $176.86. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. Alphabet Inc. has a fifty-two week low of $147.21 and a fifty-two week high of $207.05. The stock has a market cap of $2.03 trillion, a PE ratio of 20.64, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02.
Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results 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 return on equity of 32.49% and a net margin of 28.60%. On average, analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.
Alphabet Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet's dividend payout ratio is 9.94%.
Insider Buying and Selling at Alphabet
In related news, Director John L. Hennessy sold 200 shares of the business's stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the transaction, the director now owns 7,813 shares of the company's stock, valued at approximately $1,293,285.89. The trade was a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Ruth Porat sold 17,690 shares of the company's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the transaction, the insider now owns 1,449,286 shares of the company's stock, valued at approximately $265,914,995.28. The trade was a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 93,048 shares of company stock worth $17,374,274 over the last ninety days. Company insiders own 11.55% of the company's stock.
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.
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