MetLife Investment Management LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 0.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,806,364 shares of the information services provider's stock after purchasing an additional 14,768 shares during the period. Alphabet accounts for approximately 1.9% of MetLife Investment Management LLC's holdings, making the stock its 7th largest holding. MetLife Investment Management LLC's holdings in Alphabet were worth $341,945,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in GOOGL. Norinchukin Bank The raised its position in shares of Alphabet by 7.7% during the fourth quarter. Norinchukin Bank The now owns 276,572 shares of the information services provider's stock worth $52,355,000 after purchasing an additional 19,845 shares during the period. Ossiam boosted its holdings in shares of Alphabet by 8,900.2% in the 4th quarter. Ossiam now owns 938,273 shares of the information services provider's stock valued at $177,615,000 after buying an additional 927,848 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of Alphabet by 32.8% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,955,635 shares of the information services provider's stock valued at $370,202,000 after buying an additional 483,024 shares in the last quarter. Capital Research Global Investors increased its holdings in Alphabet by 16.2% during the fourth quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock worth $13,635,878,000 after buying an additional 10,037,685 shares during the last quarter. Finally, Curi RMB Capital LLC raised its position in Alphabet by 4.8% during the fourth quarter. Curi RMB Capital LLC now owns 351,972 shares of the information services provider's stock worth $66,628,000 after acquiring an additional 16,274 shares in the last quarter. 40.03% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several research firms have recently weighed in on GOOGL. DA Davidson lowered their price objective on shares of Alphabet from $200.00 to $160.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Roth Mkm reissued a "buy" rating and set a $220.00 price target on shares of Alphabet in a research report on Wednesday, March 19th. Piper Sandler cut their price objective on Alphabet from $208.00 to $185.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Jefferies Financial Group decreased their target price on Alphabet from $235.00 to $200.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $200.00 price target on shares of Alphabet in a report on Wednesday. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $199.64.
Check Out Our Latest Stock Analysis on GOOGL
Insider Activity at Alphabet
In related news, Director Kavitark Ram Shriram sold 29,066 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $184.89, for a total value of $5,374,012.74. Following the completion of the sale, the director now directly owns 272,466 shares of the company's stock, valued at $50,376,238.74. The trade was a 9.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O'toole sold 1,340 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the completion of the transaction, the chief accounting officer now owns 17,848 shares in the company, valued at approximately $3,606,723.84. The trade was a 6.98 % decrease in their position. 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 90 days. Corporate insiders own 11.55% of the company's stock.
Alphabet Trading Up 2.5 %
Shares of GOOGL traded up $3.93 during mid-day trading on Thursday, reaching $159.28. 44,765,157 shares of the company were exchanged, compared to its average volume of 28,414,059. The business has a 50 day simple moving average of $163.13 and a two-hundred day simple moving average of $175.47. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05. The stock has a market capitalization of $1.94 trillion, a PE ratio of 19.79, a PEG ratio of 1.34 and a beta of 1.03. 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 (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. During the same quarter last year, the business posted $1.89 earnings per share. On average, analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
Alphabet Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be given a $0.21 dividend. This is a positive change from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.53%. Alphabet's dividend payout ratio (DPR) 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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