Alphinity Investment Management Pty Ltd lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 27.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,787,323 shares of the information services provider's stock after selling 1,416,107 shares during the quarter. Alphabet comprises about 3.9% of Alphinity Investment Management Pty Ltd's investment portfolio, making the stock its 9th biggest holding. Alphinity Investment Management Pty Ltd's holdings in Alphabet were worth $716,940,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also recently made changes to their positions in the stock. Compass Planning Associates Inc bought a new position in shares of Alphabet in the 4th quarter worth approximately $30,000. LMR Partners LLP bought a new position in shares of Alphabet in the 3rd quarter worth approximately $32,000. E Fund Management Hong Kong Co. Ltd. lifted its stake in shares of Alphabet by 518.8% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider's stock worth $37,000 after purchasing an additional 166 shares during the period. Fiduciary Advisors Inc. bought a new position in shares of Alphabet in the 4th quarter worth approximately $39,000. Finally, PayPay Securities Corp lifted its stake in shares of Alphabet by 36.1% in the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider's stock worth $46,000 after purchasing an additional 65 shares during the period. Hedge funds and other institutional investors own 40.03% of the company's stock.
Analysts Set New Price Targets
GOOGL has been the topic of several recent research reports. Piper Sandler lowered their price objective on shares of Alphabet from $210.00 to $208.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 5th. Wells Fargo & Company increased their price objective on shares of Alphabet from $187.00 to $190.00 and gave the stock an "equal weight" rating in a research note on Monday, January 13th. KeyCorp increased their price objective on shares of Alphabet from $215.00 to $225.00 and gave the stock an "overweight" rating in a research note on Friday, January 10th. Citizens Jmp cut shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, January 2nd. Finally, DA Davidson raised their target price on shares of Alphabet from $190.00 to $200.00 and gave the stock a "neutral" rating in a research note on Friday, January 24th. Ten research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, Alphabet presently has a consensus rating of "Moderate Buy" and an average target price of $210.62.
Read Our Latest Report on GOOGL
Alphabet Stock Performance
GOOGL stock opened at $167.11 on Thursday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The business has a 50-day moving average price of $186.76 and a 200 day moving average price of $176.48. The company has a market capitalization of $2.04 trillion, a P/E ratio of 20.76, a PEG ratio of 1.34 and a beta of 1.02. Alphabet Inc. has a 1-year low of $138.99 and a 1-year high of $207.05.
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, 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, equities research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.
Alphabet Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be issued a $0.20 dividend. 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 payout ratio is currently 9.94%.
Insider Activity at Alphabet
In other Alphabet news, CAO Amie Thuener O'toole sold 1,340 shares of the business's stock in a transaction dated Monday, February 3rd. The shares were 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 directly owns 17,848 shares in the company, valued at approximately $3,606,723.84. The trade was a 6.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $5,374,012.74. Following the completion of the transaction, the director now owns 272,466 shares of the company's stock, valued at $50,376,238.74. This represents a 9.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 95,682 shares of company stock worth $17,901,024 over the last three months. 11.55% of the stock is owned by corporate insiders.
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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