Sand Hill Global Advisors LLC lessened its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 127,361 shares of the information services provider's stock after selling 3,806 shares during the quarter. Alphabet comprises about 1.0% of Sand Hill Global Advisors LLC's investment portfolio, making the stock its 17th largest holding. Sand Hill Global Advisors LLC's holdings in Alphabet were worth $24,109,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in Alphabet during the 4th quarter worth $24,383,677,000. FMR LLC raised its position in shares of Alphabet by 9.8% during the fourth quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock worth $47,025,322,000 after purchasing an additional 22,100,902 shares during the period. Wellington Management Group LLP grew its position in shares of Alphabet by 15.9% in the 4th quarter. Wellington Management Group LLP now owns 66,050,135 shares of the information services provider's stock valued at $12,503,291,000 after purchasing an additional 9,042,271 shares during the period. Proficio Capital Partners LLC increased its position 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 worth $1,171,151,000 after acquiring an additional 6,157,413 shares in the last quarter. Finally, Amundi raised its holdings in Alphabet by 18.7% during the fourth quarter. Amundi now owns 29,866,698 shares of the information services provider's stock worth $5,792,317,000 after acquiring an additional 4,694,621 shares in the last quarter. Institutional investors own 40.03% of the company's stock.
Alphabet Price Performance
GOOGL traded down $2.76 on Tuesday, reaching $156.31. The stock had a trading volume of 27,453,571 shares, compared to its average volume of 28,219,399. The firm has a 50-day moving average of $167.87 and a 200-day moving average of $176.28. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. The company has a market capitalization of $1.91 trillion, a price-to-earnings ratio of 19.42, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.
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 (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 anticipate that Alphabet Inc. will post 8.9 EPS for the current year.
Alphabet Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.51%. Alphabet's dividend payout ratio (DPR) is presently 9.94%.
Insider Buying and Selling
In other news, CAO Amie Thuener O'toole sold 673 shares of the company's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total value of $104,537.09. Following the sale, the chief accounting officer now directly owns 15,303 shares of the company's stock, valued at approximately $2,377,014.99. This represents a 4.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John L. Hennessy sold 200 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total transaction of $33,106.00. Following the sale, the director now owns 7,813 shares of the company's stock, 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 a total of 118,497 shares of company stock valued at $20,837,150 over the last 90 days. 11.55% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
Several research firms have commented on GOOGL. Wedbush set a $190.00 price objective on shares of Alphabet and gave the company an "outperform" rating in a report on Tuesday. Piper Sandler decreased their price target on shares of Alphabet from $208.00 to $185.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Citigroup cut their price objective on shares of Alphabet from $229.00 to $195.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. JPMorgan Chase & Co. decreased their target price on Alphabet from $220.00 to $180.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Finally, Wolfe Research lifted their price target on Alphabet from $220.00 to $230.00 and gave the stock an "outperform" rating in a report on Friday, January 3rd. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of "Moderate Buy" and an average target price of $204.72.
Check Out Our Latest Report 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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