Capital World Investors lowered its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 4.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,075,741 shares of the information services provider's stock after selling 1,963,135 shares during the quarter. Alphabet makes up approximately 1.1% of Capital World Investors' portfolio, making the stock its 16th biggest position. Capital World Investors owned approximately 0.31% of Alphabet worth $7,207,986,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of the business. Principal Financial Group Inc. boosted its position in shares of Alphabet by 3.1% during the 3rd quarter. Principal Financial Group Inc. now owns 11,283,594 shares of the information services provider's stock worth $1,871,384,000 after purchasing an additional 337,031 shares in the last quarter. Passumpsic Savings Bank grew its position in Alphabet by 38.0% during the third quarter. Passumpsic Savings Bank now owns 4,700 shares of the information services provider's stock worth $779,000 after buying an additional 1,294 shares during the period. SOA Wealth Advisors LLC. increased its holdings in Alphabet by 0.5% in the third quarter. SOA Wealth Advisors LLC. now owns 37,379 shares of the information services provider's stock valued at $6,199,000 after buying an additional 202 shares in the last quarter. SkyView Investment Advisors LLC boosted its stake in shares of Alphabet by 6.0% during the 3rd quarter. SkyView Investment Advisors LLC now owns 2,306 shares of the information services provider's stock worth $382,000 after acquiring an additional 130 shares in the last quarter. Finally, Te Ahumairangi Investment Management Ltd increased its stake in Alphabet by 19.2% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 137,669 shares of the information services provider's stock valued at $22,703,000 after purchasing an additional 22,169 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
GOOGL has been the subject of several research reports. Mizuho cut their price target on Alphabet from $230.00 to $205.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Cantor Fitzgerald lowered their target price on Alphabet from $200.00 to $159.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. Roth Mkm reissued a "buy" rating and issued a $220.00 price target on shares of Alphabet in a report on Wednesday, March 19th. Morgan Stanley dropped their price objective on Alphabet from $210.00 to $185.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Finally, Piper Sandler reduced their target price on shares of Alphabet from $208.00 to $185.00 and set an "overweight" rating on the stock in a report on Thursday, April 10th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $199.64.
Check Out Our Latest Research Report on GOOGL
Alphabet Stock Performance
Shares of NASDAQ GOOGL traded up $4.18 during midday trading on Wednesday, hitting $155.65. 24,488,910 shares of the company's stock were exchanged, compared to its average volume of 28,314,365. Alphabet Inc. has a twelve month low of $140.53 and a twelve month 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. The firm has a market cap of $1.90 trillion, a P/E ratio of 19.33, a PEG ratio of 1.34 and a beta of 1.03. The stock's 50 day moving average price is $163.72 and its 200-day moving average price is $175.61.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its 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 research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.
Alphabet Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a $0.20 dividend. The ex-dividend date was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.51%. Alphabet's dividend payout ratio (DPR) is 9.94%.
Insider Buying and Selling at Alphabet
In other news, CAO Amie Thuener O'toole sold 1,340 shares of the firm's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $202.08, for a total transaction of $270,787.20. Following the completion of the transaction, the chief accounting officer now owns 17,848 shares in the company, valued at approximately $3,606,723.84. This trade represents a 6.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $156.16, for a total transaction of $5,075,200.00. Following the sale, the chief executive officer now directly owns 2,685,196 shares of the company's stock, valued at approximately $419,320,207.36. This represents a 1.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 148,163 shares of company stock valued at $25,361,647. 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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