Sompo Asset Management Co. Ltd. boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 11.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 101,526 shares of the information services provider's stock after purchasing an additional 10,541 shares during the quarter. Alphabet comprises approximately 3.2% of Sompo Asset Management Co. Ltd.'s portfolio, making the stock its 7th biggest position. Sompo Asset Management Co. Ltd.'s holdings in Alphabet were worth $19,219,000 as of its most recent SEC filing.
Several other hedge funds also recently added to or reduced their stakes in the stock. FMR LLC boosted its holdings in shares of Alphabet by 9.8% in the fourth quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock valued at $47,025,322,000 after acquiring an additional 22,100,902 shares during the period. Norges Bank purchased a new stake in Alphabet in the 4th quarter valued at $24,383,677,000. Price T Rowe Associates Inc. MD boosted its stake in Alphabet by 8.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 98,638,127 shares of the information services provider's stock worth $18,672,198,000 after purchasing an additional 7,574,417 shares during the period. Capital Research Global Investors boosted its stake in Alphabet by 16.2% during the 4th quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock worth $13,635,878,000 after purchasing an additional 10,037,685 shares during the period. Finally, Wellington Management Group LLP grew 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 worth $12,503,291,000 after purchasing an additional 9,042,271 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at Alphabet
In other Alphabet news, CAO Amie Thuener O'toole sold 1,340 shares of the company's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $202.08, for a total transaction of $270,787.20. Following the completion of the sale, the chief accounting officer now directly owns 17,848 shares in the company, valued at $3,606,723.84. This represents a 6.98 % 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, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $165.53, for a total value of $33,106.00. Following the completion of the transaction, the director now directly owns 7,813 shares in the company, valued at $1,293,285.89. This represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 148,163 shares of company stock worth $25,361,647 in the last three months. Company insiders own 11.55% of the company's stock.
Alphabet Stock Up 2.8 %
Shares of NASDAQ GOOGL opened at $155.65 on Thursday. The firm's 50 day moving average price is $163.13 and its 200 day moving average price is $175.47. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The firm has a market cap of $1.90 trillion, a P/E ratio of 19.33, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05.
Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping 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%. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.
Alphabet Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet's dividend payout ratio is currently 9.94%.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on GOOGL shares. JMP Securities reiterated a "market perform" rating on shares of Alphabet in a research note on Thursday, April 10th. Roth Mkm reaffirmed a "buy" rating and set a $220.00 price objective on shares of Alphabet in a research report on Wednesday, March 19th. Westpark Capital raised Alphabet to a "strong-buy" rating in a report on Tuesday, April 1st. Morgan Stanley decreased their price target on Alphabet from $210.00 to $185.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Finally, Truist Financial lowered their price objective on shares of Alphabet from $220.00 to $200.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and five have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $199.64.
Read Our Latest Stock Analysis on Alphabet
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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