Jensen Investment Management Inc. trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 13.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,231,336 shares of the information services provider's stock after selling 514,874 shares during the quarter. Alphabet accounts for 5.5% of Jensen Investment Management Inc.'s holdings, making the stock its 6th largest holding. Jensen Investment Management Inc.'s holdings in Alphabet were worth $611,692,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently added to or reduced their stakes in the company. Schear Investment Advisers LLC lifted its holdings in shares of Alphabet by 17.0% in the 3rd quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider's stock valued at $5,598,000 after purchasing an additional 4,905 shares during the last quarter. Permanent Capital Management LP purchased a new position in shares of Alphabet during the 4th quarter worth approximately $273,000. Landscape Capital Management L.L.C. raised its position in Alphabet by 27.9% in the third quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider's stock worth $4,192,000 after acquiring an additional 5,516 shares in the last quarter. Glass Wealth Management Co LLC boosted its position in shares of Alphabet by 4.5% during the 4th quarter. Glass Wealth Management Co LLC now owns 37,054 shares of the information services provider's stock worth $7,014,000 after purchasing an additional 1,580 shares in the last quarter. Finally, Olistico Wealth LLC grew its stake in shares of Alphabet by 9.1% during the 4th quarter. Olistico Wealth LLC now owns 8,981 shares of the information services provider's stock worth $1,700,000 after purchasing an additional 746 shares during the period. Institutional investors and hedge funds own 40.03% of the company's stock.
Alphabet Price Performance
Shares of NASDAQ GOOGL traded down $0.54 during mid-day trading on Monday, reaching $153.80. 25,594,222 shares of the company traded hands, compared to its average volume of 27,274,985. Alphabet Inc. has a fifty-two week low of $147.22 and a fifty-two week high of $207.05. The firm has a market cap of $1.87 trillion, a PE ratio of 19.12, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02. The stock has a fifty day simple moving average of $179.66 and a 200-day simple moving average of $177.10. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84.
Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping analysts' consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Equities research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.
Alphabet Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet's dividend payout ratio is presently 9.94%.
Insiders Place Their Bets
In related news, insider John Kent Walker sold 11,764 shares of the stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $166.84, for a total value of $1,962,705.76. Following the completion of the sale, the insider now directly owns 49,037 shares of the company's stock, valued at approximately $8,181,333.08. This represents a 19.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O'toole sold 1,368 shares of Alphabet stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total value of $262,040.40. Following the transaction, the chief accounting officer now directly owns 20,681 shares in the company, valued at approximately $3,961,445.55. This trade represents a 6.20 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 87,992 shares of company stock worth $16,097,111. 11.55% of the stock is owned by insiders.
Wall Street Analyst Weigh In
GOOGL has been the topic of a number of research analyst reports. Wolfe Research boosted their price objective on shares of Alphabet from $220.00 to $230.00 and gave the stock an "outperform" rating in a report on Friday, January 3rd. Wedbush upped their target price on Alphabet from $210.00 to $220.00 and gave the company an "outperform" rating in a report on Monday, January 6th. JMP Securities restated a "market perform" rating on shares of Alphabet in a research report on Wednesday, February 5th. KeyCorp lowered their target price on Alphabet from $220.00 to $202.00 and set an "overweight" rating on the stock in a report on Tuesday, March 18th. Finally, Roth Mkm restated a "buy" rating and issued a $220.00 price objective on shares of Alphabet in a research report on Wednesday, March 19th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $209.49.
Get Our Latest Stock Analysis on GOOGL
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.
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