Cvfg LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 8,023 shares of the information services provider's stock, valued at approximately $1,519,000. Alphabet accounts for 1.4% of Cvfg LLC's investment portfolio, making the stock its 21st largest holding.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp raised its stake in shares of Alphabet by 0.3% during the 3rd quarter. State Street Corp now owns 222,555,548 shares of the information services provider's stock worth $36,910,838,000 after buying an additional 743,369 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Alphabet by 2.0% in 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 buying an additional 2,626,431 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Alphabet by 7.7% during the third 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. Fisher Asset Management LLC lifted its position 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 worth $8,268,933,000 after buying an additional 1,237,385 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Alphabet by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 37,233,079 shares of the information services provider's stock worth $6,175,106,000 after buying an additional 523,416 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.
Analyst Ratings Changes
Several research analysts recently weighed in on the company. China Renaissance raised Alphabet from a "hold" rating to a "buy" rating in a research report on Thursday, October 31st. Piper Sandler reaffirmed an "overweight" rating and issued a $210.00 price objective (up from $200.00) on shares of Alphabet in a research note on Wednesday, October 30th. Wolfe Research increased their target price on shares of Alphabet from $220.00 to $230.00 and gave the stock an "outperform" rating in a research report on Friday, January 3rd. Sanford C. Bernstein raised their price target on shares of Alphabet from $180.00 to $185.00 and gave the company a "market perform" rating in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group reiterated a "buy" rating and set a $210.00 price objective on shares of Alphabet in a research note on Thursday, December 12th. Nine equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, Alphabet presently has a consensus rating of "Moderate Buy" and a consensus target price of $208.15.
Check Out Our Latest Stock Report on Alphabet
Insiders Place Their Bets
In related news, CAO Amie Thuener O'toole sold 1,367 shares of the company's stock in a transaction on Friday, November 1st. The shares were sold at an average price of $171.42, for a total transaction of $234,331.14. Following the completion of the sale, the chief accounting officer now directly owns 26,349 shares of the company's stock, valued at approximately $4,516,745.58. This represents a 4.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 37,134 shares of Alphabet stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the completion of the transaction, the director now owns 282,832 shares in the company, valued at $52,329,576.64. This trade represents a 11.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 133,387 shares of company stock valued at $24,368,654 over the last quarter. Insiders own 11.55% of the company's stock.
Alphabet Trading Up 1.6 %
GOOGL traded up $3.09 during trading on Monday, reaching $196.00. The company had a trading volume of 27,621,897 shares, compared to its average volume of 23,105,888. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. Alphabet Inc. has a 12-month low of $130.66 and a 12-month high of $201.42. The company has a market cap of $2.40 trillion, a price-to-earnings ratio of 25.99, a PEG ratio of 1.22 and a beta of 0.98. The firm's 50-day simple moving average is $184.43 and its 200 day simple moving average is $173.25.
Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same period in the prior year, the firm posted $1.55 EPS. Equities research analysts anticipate that Alphabet Inc. will post 8.03 earnings per share for the current year.
Alphabet Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.41%. Alphabet's dividend payout ratio (DPR) is currently 10.61%.
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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