Artemis Investment Management LLP reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 12.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 435,815 shares of the information services provider's stock after selling 59,347 shares during the quarter. Alphabet accounts for approximately 1.2% of Artemis Investment Management LLP's investment portfolio, making the stock its 22nd biggest holding. Artemis Investment Management LLP's holdings in Alphabet were worth $82,500,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of GOOGL. Schear Investment Advisers LLC raised its position in shares of Alphabet by 17.0% during the 3rd quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider's stock worth $5,598,000 after purchasing an additional 4,905 shares during the last quarter. Trinity Financial Advisors LLC raised its position in shares of Alphabet by 4.5% during the 3rd quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider's stock worth $771,000 after purchasing an additional 190 shares during the last quarter. Landscape Capital Management L.L.C. raised its holdings in Alphabet by 27.9% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider's stock valued at $4,192,000 after acquiring an additional 5,516 shares during the last quarter. abrdn plc raised its holdings in Alphabet by 10.7% in the 3rd quarter. abrdn plc now owns 6,305,717 shares of the information services provider's stock valued at $1,037,196,000 after acquiring an additional 611,233 shares during the last quarter. Finally, StoneCrest Wealth Management Inc. raised its holdings in Alphabet by 0.7% in the 3rd quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider's stock valued at $3,567,000 after acquiring an additional 140 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.
Alphabet Stock Up 0.6 %
Shares of GOOGL traded up $1.11 during midday trading on Thursday, reaching $199.48. The stock had a trading volume of 4,132,065 shares, compared to its average volume of 22,319,691. Alphabet Inc. has a 1-year low of $130.66 and a 1-year high of $202.29. The company's fifty day simple moving average is $185.46 and its two-hundred day simple moving average is $173.55. The company has a market cap of $2.44 trillion, a price-to-earnings ratio of 26.47, a PEG ratio of 1.27 and a beta of 0.98. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95.
Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts' consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same period last year, the business earned $1.55 EPS. Equities research analysts expect that Alphabet Inc. will post 8.03 earnings per share for the current year.
Alphabet Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.40%. Alphabet's dividend payout ratio is currently 10.61%.
Analysts Set New Price Targets
A number of research firms have commented on GOOGL. Phillip Securities upgraded shares of Alphabet to a "strong-buy" rating in a report on Friday, November 1st. Pivotal Research increased their price objective on shares of Alphabet from $215.00 to $225.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. KeyCorp increased their price objective on shares of Alphabet from $215.00 to $225.00 and gave the company an "overweight" rating in a report on Friday, January 10th. Morgan Stanley increased their price objective on shares of Alphabet from $205.00 to $215.00 and gave the company an "overweight" rating in a report on Monday, January 13th. Finally, Tigress Financial raised their price target on shares of Alphabet from $210.00 to $220.00 and gave the stock a "strong-buy" rating in a report on Thursday, September 26th. Nine research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $208.67.
View Our Latest Research Report on GOOGL
Insider Buying and Selling
In related news, CAO Amie Thuener O'toole sold 1,367 shares of Alphabet stock in a transaction on Friday, November 1st. The shares were sold at an average price of $171.42, for a total transaction of $234,331.14. Following the sale, the chief accounting officer now directly owns 26,349 shares in the company, valued at $4,516,745.58. This trade represents a 4.93 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frances Arnold sold 441 shares of Alphabet stock in a transaction on Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the completion of the transaction, the director now owns 16,490 shares in the company, valued at approximately $2,820,779.40. This represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 133,387 shares of company stock worth $24,368,654 in the last ninety days. 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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