Connor Clark & Lunn Investment Management Ltd. grew its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 15.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 617,726 shares of the information services provider's stock after purchasing an additional 81,063 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in Alphabet were worth $117,640,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Sterling Financial Planning Inc. lifted its holdings in shares of Alphabet by 2.6% during the fourth quarter. Sterling Financial Planning Inc. now owns 1,941 shares of the information services provider's stock valued at $370,000 after acquiring an additional 50 shares during the period. Arlington Trust Co LLC increased its position in shares of Alphabet by 0.4% during the 4th quarter. Arlington Trust Co LLC now owns 14,423 shares of the information services provider's stock worth $2,747,000 after purchasing an additional 52 shares in the last quarter. Harrell Investment Partners LLC lifted its holdings in Alphabet by 0.9% during the 4th quarter. Harrell Investment Partners LLC now owns 5,659 shares of the information services provider's stock valued at $1,078,000 after purchasing an additional 53 shares during the last quarter. Ethos Financial Group LLC boosted its position in Alphabet by 0.7% in the fourth quarter. Ethos Financial Group LLC now owns 7,300 shares of the information services provider's stock valued at $1,395,000 after buying an additional 53 shares in the last quarter. Finally, Redhawk Wealth Advisors Inc. grew its stake in Alphabet by 1.1% during the fourth quarter. Redhawk Wealth Advisors Inc. now owns 5,073 shares of the information services provider's stock worth $966,000 after buying an additional 54 shares during the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.
Alphabet Trading Down 2.5 %
GOOG traded down $4.27 during midday trading on Thursday, reaching $164.73. 15,180,371 shares of the company were exchanged, compared to its average volume of 19,103,002. The stock has a market capitalization of $2.01 trillion, a P/E ratio of 20.46, a PEG ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a one year low of $141.13 and a one year high of $208.70. The stock's 50-day simple moving average is $187.92 and its 200 day simple moving average is $177.92. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84.
Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping 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%. As a group, analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.
Alphabet Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be issued a $0.20 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. Alphabet's dividend payout ratio (DPR) is 9.94%.
Insider Transactions at Alphabet
In other Alphabet news, insider John Kent Walker sold 16,820 shares of the company's stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the completion of the transaction, the insider now owns 43,981 shares of the company's stock, valued at $8,471,620.22. This represents a 27.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the completion of the sale, the director now owns 7,813 shares in the company, valued at $1,293,285.89. This trade represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 95,882 shares of company stock valued at $17,934,130 over the last three months. Company insiders own 12.99% of the company's stock.
Analyst Upgrades and Downgrades
Several research analysts have recently commented on the company. Needham & Company LLC reissued a "buy" rating on shares of Alphabet in a report on Wednesday, February 5th. The Goldman Sachs Group restated a "buy" rating on shares of Alphabet in a report on Wednesday, February 5th. Benchmark reaffirmed a "negative" rating on shares of Alphabet in a report on Wednesday, February 5th. Oppenheimer upped their price target on shares of Alphabet from $215.00 to $225.00 and gave the stock an "outperform" rating in a research report on Thursday, January 30th. Finally, Morgan Stanley restated an "overweight" rating on shares of Alphabet in a research report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $209.13.
Check Out Our Latest Research Report on Alphabet
Alphabet Profile
(
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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