Alphabet Inc. (NASDAQ:GOOGL) is Cambiar Investors LLC's 2nd Largest Position

Cambiar Investors LLC lessened its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 342,414 shares of the information services provider's stock after selling 10,350 shares during the quarter. Alphabet makes up about 2.6% of Cambiar Investors LLC's investment portfolio, making the stock its 2nd largest position. Cambiar Investors LLC's holdings in Alphabet were worth $64,819,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. State Street Corp raised its stake in Alphabet by 0.3% during 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 purchasing an additional 743,369 shares in the last quarter. Geode Capital Management LLC raised its stake in Alphabet by 2.0% during 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 purchasing an additional 2,626,431 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Alphabet by 7.7% during 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 purchasing an additional 4,567,275 shares in the last quarter. Fisher Asset Management LLC raised its stake in Alphabet by 2.5% during 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 purchasing an additional 1,237,385 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Alphabet by 1.4% during 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 purchasing an additional 523,416 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Pivotal Research upped their price target on shares of Alphabet from $215.00 to $225.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. DZ Bank cut shares of Alphabet from a "buy" rating to a "hold" rating and set a $198.00 price objective on the stock. in a research report on Thursday, February 6th. China Renaissance upgraded shares of Alphabet from a "hold" rating to a "buy" rating in a research report on Thursday, October 31st. Citizens Jmp cut shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, January 2nd. Finally, BMO Capital Markets reiterated an "outperform" rating and set a $217.00 price objective (up previously from $215.00) on shares of Alphabet in a research report on Wednesday, October 30th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $210.62.

Alphabet Stock Down 2.7 %

Shares of GOOGL stock traded down $4.90 during mid-day trading on Friday, hitting $179.66. 35,094,289 shares of the stock traded hands, compared to its average volume of 28,166,218. The stock has a market cap of $2.19 trillion, a P/E ratio of 22.32, a P/E/G ratio of 1.34 and a beta of 0.99. The stock's fifty day moving average is $192.46 and its two-hundred day moving average is $175.69. Alphabet Inc. has a 52-week low of $130.66 and a 52-week high of $207.05. 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 (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating 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%. Equities analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet's payout ratio is 9.94%.

Insider Activity at Alphabet

In related news, Director Kavitark Ram Shriram sold 37,134 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total value of $6,870,532.68. Following the completion of the transaction, the director now directly owns 282,832 shares of the company's stock, valued at $52,329,576.64. This trade represents a 11.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O'toole sold 1,367 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $170.41, for a total transaction of $232,950.47. Following the completion of the transaction, the chief accounting officer now directly owns 23,515 shares of the company's stock, valued at $4,007,191.15. The trade was a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 134,299 shares of company stock valued at $25,055,751 in the last three months. 11.55% of the stock is 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.