Heron Bay Capital Management raised its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 108,674 shares of the information services provider's stock after acquiring an additional 1,603 shares during the period. Alphabet makes up 4.3% of Heron Bay Capital Management's investment portfolio, making the stock its 5th largest position. Heron Bay Capital Management's holdings in Alphabet were worth $20,572,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. Proficio Capital Partners LLC raised its position in Alphabet by 20,990.0% during the fourth quarter. Proficio Capital Partners LLC now owns 6,186,748 shares of the information services provider's stock valued at $1,171,151,000 after purchasing an additional 6,157,413 shares in the last quarter. Amundi increased its position in shares of Alphabet by 18.7% during the 4th quarter. Amundi now owns 29,866,698 shares of the information services provider's stock valued at $5,792,317,000 after purchasing an additional 4,694,621 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Alphabet by 7.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider's stock valued at $10,559,240,000 after buying an additional 4,567,275 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Alphabet in the 3rd quarter worth approximately $513,024,000. Finally, Geode Capital Management LLC boosted its stake in Alphabet by 2.0% in the third 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 in the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.
Analyst Upgrades and Downgrades
GOOGL has been the subject of a number of recent research reports. The Goldman Sachs Group restated a "buy" rating and issued a $210.00 price objective on shares of Alphabet in a report on Thursday, December 12th. KeyCorp lowered their target price on Alphabet from $220.00 to $202.00 and set an "overweight" rating for the company in a research note on Tuesday, March 18th. JPMorgan Chase & Co. dropped their target price on Alphabet from $232.00 to $220.00 and set an "overweight" rating for the company in a report on Wednesday, February 5th. Jefferies Financial Group dropped their price objective on Alphabet from $235.00 to $200.00 and set a "buy" rating for the company in a research note on Monday. Finally, Citigroup lowered their price target on shares of Alphabet from $232.00 to $229.00 and set a "buy" rating for the company in a report on Wednesday, February 5th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $209.13.
View Our Latest Stock Report on GOOGL
Insider Transactions at Alphabet
In other Alphabet news, Director John L. Hennessy sold 200 shares of the stock in a transaction dated 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 directly owns 7,813 shares in the company, valued at $1,293,285.89. This represents a 2.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O'toole sold 673 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total transaction of $104,537.09. Following the completion of the sale, the chief accounting officer now directly owns 15,303 shares of the company's stock, valued at $2,377,014.99. The trade was a 4.21 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 87,297 shares of company stock worth $15,936,270. 11.55% of the stock is currently owned by insiders.
Alphabet Trading Down 4.0 %
Shares of Alphabet stock traded down $6.32 during trading on Thursday, hitting $150.72. The stock had a trading volume of 46,763,615 shares, compared to its average volume of 27,471,312. The stock has a market cap of $1.84 trillion, a PE ratio of 18.72, a PEG ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a 12 month low of $147.22 and a 12 month high of $207.05. The firm's fifty day simple moving average is $177.19 and its 200-day simple moving average is $176.95. 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 announced its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (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%. As a group, sell-side analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.
Alphabet Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were paid a $0.20 dividend. The ex-dividend date was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.53%. Alphabet's payout ratio is 9.94%.
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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