Cooper Financial Group grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 9.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 68,368 shares of the information services provider's stock after acquiring an additional 5,988 shares during the quarter. Alphabet comprises 1.6% of Cooper Financial Group's investment portfolio, making the stock its 16th largest position. Cooper Financial Group's holdings in Alphabet were worth $12,942,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Schear Investment Advisers LLC raised its stake in shares of Alphabet by 17.0% during the third quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider's stock worth $5,598,000 after acquiring an additional 4,905 shares in the last quarter. Trinity Financial Advisors LLC grew its holdings 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 valued at $771,000 after purchasing an additional 190 shares during the last quarter. Landscape Capital Management L.L.C. lifted its stake in Alphabet by 27.9% in the third quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider's stock worth $4,192,000 after purchasing an additional 5,516 shares during the last quarter. abrdn plc boosted its position in Alphabet by 10.7% during the third quarter. abrdn plc now owns 6,305,717 shares of the information services provider's stock valued at $1,037,196,000 after buying an additional 611,233 shares during the period. Finally, StoneCrest Wealth Management Inc. grew its stake in shares of Alphabet by 0.7% during the third quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider's stock valued at $3,567,000 after buying an additional 140 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.
Alphabet Stock Performance
Shares of GOOGL traded down $1.35 during mid-day trading on Tuesday, reaching $189.66. The company had a trading volume of 17,138,917 shares, compared to its average volume of 23,187,648. The stock has a market capitalization of $2.32 trillion, a P/E ratio of 25.15, a PEG ratio of 1.35 and a beta of 0.98. Alphabet Inc. has a 52-week low of $130.66 and a 52-week high of $201.42. The stock has a 50 day moving average of $183.45 and a two-hundred day moving average of $173.04. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.
Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period in the prior year, the firm posted $1.55 earnings per share. On average, analysts expect that Alphabet Inc. will post 8.01 earnings per share for the current year.
Alphabet Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet's dividend payout ratio is presently 10.61%.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on GOOGL. JPMorgan Chase & Co. upped their price objective on shares of Alphabet from $212.00 to $232.00 and gave the company an "overweight" rating in a research note on Wednesday, December 18th. Piper Sandler reaffirmed an "overweight" rating and set a $210.00 price target (up previously from $200.00) on shares of Alphabet in a research report on Wednesday, October 30th. Bank of America reiterated a "buy" rating and issued a $210.00 price objective on shares of Alphabet in a research report on Monday, December 23rd. Tigress Financial upped their target price on Alphabet from $210.00 to $220.00 and gave the company a "strong-buy" rating in a report on Thursday, September 26th. Finally, Stifel Nicolaus lifted their price target on shares of Alphabet from $200.00 to $225.00 and gave the company a "buy" rating in a report on Monday. Nine investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $208.15.
Read Our Latest Stock Analysis on GOOGL
Insider Buying and Selling at Alphabet
In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the business's stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the transaction, the chief executive officer now owns 2,106,806 shares of the company's stock, valued at approximately $350,361,837.80. The trade was a 1.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider John Kent Walker sold 16,820 shares of the firm's 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 $8,471,620.22. This trade represents a 27.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 153,053 shares of company stock valued at $27,559,701 over the last ninety days. Corporate insiders own 11.55% of the company's stock.
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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