Richard Bernstein Advisors LLC Has $21.36 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Richard Bernstein Advisors LLC cut its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 6.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 112,829 shares of the information services provider's stock after selling 7,618 shares during the quarter. Richard Bernstein Advisors LLC's holdings in Alphabet were worth $21,359,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in GOOGL. State Street Corp increased its holdings in Alphabet by 0.3% in the third quarter. State Street Corp now owns 222,555,548 shares of the information services provider's stock valued at $36,910,838,000 after buying an additional 743,369 shares during the last quarter. Geode Capital Management LLC increased its holdings 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 valued at $22,154,651,000 after buying an additional 2,626,431 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Alphabet by 7.7% in the third 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 during the last quarter. Fisher Asset Management LLC increased its holdings in Alphabet by 2.5% in the third quarter. Fisher Asset Management LLC now owns 49,857,900 shares of the information services provider's stock valued at $8,268,933,000 after buying an additional 1,237,385 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Alphabet by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 37,233,079 shares of the information services provider's stock valued at $6,175,106,000 after buying an additional 523,416 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

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Alphabet Stock Up 1.7 %

GOOGL stock traded up $2.73 during midday trading on Friday, hitting $165.49. The company's stock had a trading volume of 31,958,196 shares, compared to its average volume of 30,160,621. 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 Inc. has a twelve month low of $140.03 and a twelve month high of $207.05. The company's fifty day moving average price is $186.22 and its 200 day moving average price is $176.39. The stock has a market capitalization of $2.02 trillion, a P/E ratio of 20.56, a PEG ratio of 1.34 and a beta of 1.02.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping 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%. As a group, equities research analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. Alphabet's dividend payout ratio is presently 9.94%.

Analyst Ratings Changes

Several brokerages recently weighed in on GOOGL. Robert W. Baird reissued an "outperform" rating and issued a $205.00 price objective on shares of Alphabet in a report on Tuesday, December 10th. Piper Sandler lowered their target price on Alphabet from $210.00 to $208.00 and set an "overweight" rating for the company in a report on Wednesday, February 5th. JPMorgan Chase & Co. lowered 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. Bank of America reaffirmed a "buy" rating and set a $210.00 target price on shares of Alphabet in a report on Monday, December 23rd. Finally, 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. Ten analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $210.62.

Insider Transactions at Alphabet

In related news, insider John Kent Walker sold 16,820 shares of the company's stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $192.62, for a total value of $3,239,868.40. Following the transaction, the insider now owns 43,981 shares in the company, valued at approximately $8,471,620.22. This represents a 27.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 200 shares of the company's 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 completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold 95,882 shares of company stock worth $17,934,130 in the last ninety days. Insiders own 11.55% of the company's stock.

Alphabet Company Profile

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.