Alphabet Inc. (NASDAQ:GOOGL) is Arnhold LLC's 3rd Largest Position

Arnhold LLC cut its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 8.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 216,586 shares of the information services provider's stock after selling 20,936 shares during the period. Alphabet accounts for about 4.0% of Arnhold LLC's investment portfolio, making the stock its 3rd biggest position. Arnhold LLC's holdings in Alphabet were worth $41,000,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. FMR LLC lifted its holdings in Alphabet by 9.8% during the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock worth $47,025,322,000 after buying an additional 22,100,902 shares in the last quarter. Norges Bank acquired a new position in shares of Alphabet during the fourth quarter valued at $24,383,677,000. Price T Rowe Associates Inc. MD boosted its holdings in Alphabet by 8.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 98,638,127 shares of the information services provider's stock valued at $18,672,198,000 after acquiring an additional 7,574,417 shares during the last quarter. Capital Research Global Investors increased its position in Alphabet by 16.2% in 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 purchasing an additional 10,037,685 shares during the period. Finally, Wellington Management Group LLP raised its holdings in Alphabet by 15.9% during the 4th quarter. Wellington Management Group LLP now owns 66,050,135 shares of the information services provider's stock worth $12,503,291,000 after purchasing an additional 9,042,271 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on GOOGL. BMO Capital Markets reaffirmed an "outperform" rating and issued a $200.00 target price (down previously from $230.00) on shares of Alphabet in a research note on Thursday, April 17th. Westpark Capital raised shares of Alphabet to a "strong-buy" rating in a report on Tuesday, April 1st. KeyCorp increased their price target on Alphabet from $185.00 to $195.00 and gave the company an "overweight" rating in a research note on Friday. Susquehanna reduced their price objective on shares of Alphabet from $225.00 to $220.00 and set a "positive" rating on the stock in a research note on Friday. Finally, Piper Sandler upped their target price on shares of Alphabet from $185.00 to $195.00 and gave the company an "overweight" rating in a research note on Friday. Ten investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and five have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $199.03.

Alphabet Stock Up 1.7 %

Shares of GOOGL traded up $2.68 during trading hours on Friday, reaching $161.96. The stock had a trading volume of 55,957,898 shares, compared to its average volume of 28,290,487. The company has a market capitalization of $1.97 trillion, a price-to-earnings ratio of 20.12, a P/E/G ratio of 1.34 and a beta of 1.03. The firm has a 50-day simple moving average of $162.18 and a 200 day simple moving average of $175.52. 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 Inc. has a 12 month low of $140.53 and a 12 month high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. The firm had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. During the same period last year, the firm earned $1.89 earnings per share. Equities research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 0.52%. This is an increase from Alphabet's previous quarterly dividend of $0.20. Alphabet's payout ratio is 9.94%.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O'toole sold 1,340 shares of the company'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 sale, the chief accounting officer now directly owns 17,848 shares of the company's stock, valued at approximately $3,606,723.84. This represents a 6.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction that occurred 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 transaction, the director now directly owns 7,813 shares in the company, valued at approximately $1,293,285.89. This represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 148,163 shares of company stock valued at $25,361,647 over the last ninety days. 11.55% of the stock is currently owned by insiders.

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.