Capital Wealth Planning LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 40.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,229 shares of the information services provider's stock after selling 4,841 shares during the quarter. Capital Wealth Planning LLC's holdings in Alphabet were worth $1,368,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in GOOGL. Proficio Capital Partners LLC lifted its stake in shares of Alphabet by 20,990.0% during the 4th quarter. Proficio Capital Partners LLC now owns 6,186,748 shares of the information services provider's stock worth $1,171,151,000 after purchasing an additional 6,157,413 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Alphabet by 7.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider's stock worth $10,559,240,000 after purchasing an additional 4,567,275 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Alphabet during the 3rd quarter worth $513,024,000. Geode Capital Management LLC lifted its stake in shares of Alphabet by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider's stock worth $22,154,651,000 after purchasing an additional 2,626,431 shares during the last quarter. Finally, National Bank of Canada FI raised its stake in Alphabet by 26.9% in the third quarter. National Bank of Canada FI now owns 10,064,598 shares of the information services provider's stock valued at $1,669,300,000 after buying an additional 2,136,128 shares during the last quarter. Institutional investors own 40.03% of the company's stock.
Insider Buying and Selling
In other news, insider John Kent Walker sold 16,820 shares of Alphabet stock in a transaction on Monday, December 30th. The stock was sold at an average price of $192.62, for a total value of $3,239,868.40. Following the completion of the sale, the insider now directly owns 43,981 shares of the company's stock, valued at approximately $8,471,620.22. The trade was a 27.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O'toole sold 1,368 shares of Alphabet stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total value of $262,040.40. Following the completion of the sale, the chief accounting officer now directly owns 20,681 shares of the company's stock, valued at $3,961,445.55. The trade was a 6.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 93,048 shares of company stock worth $17,374,274. 11.55% of the stock is owned by corporate insiders.
Analyst Ratings Changes
A number of research firms have commented on GOOGL. Robert W. Baird reiterated an "outperform" rating and issued a $205.00 price target on shares of Alphabet in a research note on Tuesday, December 10th. DZ Bank cut Alphabet from a "buy" rating to a "hold" rating and set a $198.00 price target for the company. in a research note on Thursday, February 6th. Piper Sandler decreased their price target on Alphabet from $210.00 to $208.00 and set an "overweight" rating for the company in a research note on Wednesday, February 5th. JPMorgan Chase & Co. decreased their price target on Alphabet from $232.00 to $220.00 and set an "overweight" rating for the company in a research note on Wednesday, February 5th. Finally, DA Davidson increased their price target on Alphabet from $190.00 to $200.00 and gave the company 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 MarketBeat.com, Alphabet currently has an average rating of "Moderate Buy" and a consensus target price of $210.03.
Check Out Our Latest Research Report on GOOGL
Alphabet Price Performance
Shares of NASDAQ GOOGL traded down $3.62 during midday trading on Tuesday, hitting $160.67. The stock had a trading volume of 41,994,003 shares, compared to its average volume of 25,981,079. The company has a market capitalization of $1.96 trillion, a PE ratio of 19.96, a P/E/G ratio of 1.34 and a beta of 1.02. The stock has a 50 day simple moving average of $185.05 and a 200-day simple moving average of $176.58. Alphabet Inc. has a 1 year low of $146.08 and a 1 year high of $207.05. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results 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%. On average, sell-side analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.
Alphabet Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were given 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 yield of 0.50%. Alphabet's payout ratio is 9.94%.
Alphabet Company Profile
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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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