Bronte Capital Management Pty Ltd. decreased its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 39.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 533,955 shares of the information services provider's stock after selling 352,997 shares during the quarter. Alphabet makes up 0.0% of Bronte Capital Management Pty Ltd.'s portfolio, making the stock its 15th biggest position. Bronte Capital Management Pty Ltd.'s holdings in Alphabet were worth $101,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in GOOGL. Proficio Capital Partners LLC increased its holdings in shares of 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 acquiring an additional 6,157,413 shares in the last quarter. Amundi grew its position in 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. increased its stake in 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 purchasing an additional 4,567,275 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Alphabet in the third quarter worth about $513,024,000. Finally, Geode Capital Management LLC lifted its stake in shares of 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.
Insider Transactions at Alphabet
In other Alphabet news, CAO Amie Thuener O'toole sold 1,368 shares of the business's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $191.55, for a total transaction of $262,040.40. Following the sale, the chief accounting officer now directly owns 20,681 shares of the company's stock, valued at $3,961,445.55. The trade was a 6.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John L. Hennessy sold 200 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total value of $33,106.00. Following the sale, the director now owns 7,813 shares in the company, valued at approximately $1,293,285.89. This trade represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 93,048 shares of company stock valued at $17,374,274 in the last ninety days. Corporate insiders own 11.55% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages recently weighed in on GOOGL. The Goldman Sachs Group reissued a "buy" rating and set a $210.00 price target on shares of Alphabet in a research report on Thursday, December 12th. Morgan Stanley reduced their target price on Alphabet from $215.00 to $210.00 and set an "overweight" rating for the company in a report on Wednesday, February 5th. Roth Mkm reaffirmed a "buy" rating and set a $220.00 price target on shares of Alphabet in a report on Wednesday, March 19th. DA Davidson lifted their price objective on Alphabet from $190.00 to $200.00 and gave the stock a "neutral" rating in a report on Friday, January 24th. Finally, Piper Sandler decreased their target price on Alphabet from $210.00 to $208.00 and set an "overweight" rating for the company in a research 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 four have assigned a strong buy rating to the company. According to MarketBeat.com, Alphabet presently has a consensus rating of "Moderate Buy" and a consensus target price of $210.59.
View Our Latest Report on GOOGL
Alphabet Price Performance
Shares of Alphabet stock traded down $4.42 on Wednesday, hitting $166.14. 13,643,897 shares of the company traded hands, compared to its average volume of 30,132,676. The stock has a market capitalization of $2.03 trillion, a P/E ratio of 20.64, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02. The business has a 50-day simple moving average of $181.72 and a 200 day simple moving average of $176.86. Alphabet Inc. has a 52 week low of $147.21 and a 52 week high of $207.05. 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 data 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 net margin of 28.60% and a return on equity of 32.49%. Research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
Alphabet Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were paid a $0.20 dividend. 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 payout ratio is 9.94%.
Alphabet Company Profile
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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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