Edgemoor Investment Advisors Inc. decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 156,252 shares of the information services provider's stock after selling 4,463 shares during the period. Alphabet comprises about 2.6% of Edgemoor Investment Advisors Inc.'s investment portfolio, making the stock its 10th biggest holding. Edgemoor Investment Advisors Inc.'s holdings in Alphabet were worth $29,579,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of the business. Proficio Capital Partners LLC boosted its stake in shares of Alphabet by 20,990.0% in 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 buying an additional 6,157,413 shares during the last quarter. Amundi boosted its position in Alphabet by 18.7% in the fourth quarter. Amundi now owns 29,866,698 shares of the information services provider's stock worth $5,792,317,000 after purchasing an additional 4,694,621 shares during the last quarter. JPMorgan Chase & Co. grew 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 valued at $10,559,240,000 after purchasing an additional 4,567,275 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Alphabet during the 3rd quarter valued at about $513,024,000. Finally, Geode Capital Management LLC lifted its stake in shares of Alphabet by 2.0% in 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 period. Hedge funds and other institutional investors own 40.03% of the company's stock.
Alphabet Trading Down 0.3 %
GOOGL stock traded down $0.54 during midday trading on Monday, reaching $153.80. The company's stock had a trading volume of 25,594,222 shares, compared to its average volume of 27,274,985. Alphabet Inc. has a 1 year low of $147.22 and a 1 year high of $207.05. The firm has a market capitalization of $1.87 trillion, a price-to-earnings ratio of 19.12, a PEG ratio of 1.34 and a beta of 1.02. The stock has a fifty day simple moving average of $179.66 and a two-hundred day simple moving average of $177.10. 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:GOOGL - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (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%. On average, equities research analysts predict 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 dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date was Monday, March 10th. Alphabet's dividend payout ratio (DPR) is presently 9.94%.
Insiders Place Their Bets
In related news, CAO Amie Thuener O'toole sold 1,368 shares of the firm's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $191.55, for a total transaction of $262,040.40. Following the sale, the chief accounting officer now owns 20,681 shares of the company's stock, valued at $3,961,445.55. This trade represents a 6.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John L. Hennessy sold 200 shares of the business's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $165.53, for a total transaction of $33,106.00. Following the completion of the transaction, the director now owns 7,813 shares of the company's stock, valued at $1,293,285.89. This represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 87,992 shares of company stock worth $16,097,111. 11.55% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
Several research analysts have weighed in on GOOGL shares. Robert W. Baird reiterated an "outperform" rating and issued a $205.00 price target on shares of Alphabet in a research report on Tuesday, December 10th. Citigroup decreased their price objective on Alphabet from $232.00 to $229.00 and set a "buy" rating on the stock in a research note on Wednesday, February 5th. Roth Mkm reiterated a "buy" rating and set a $220.00 price objective on shares of Alphabet in a research note on Wednesday, March 19th. Piper Sandler lowered their price target on shares of Alphabet from $210.00 to $208.00 and set an "overweight" rating on the stock in a report on Wednesday, February 5th. Finally, Rosenblatt Securities reissued a "neutral" rating and issued a $205.00 price objective on shares of Alphabet in a research note on Wednesday, March 19th. Ten research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $209.49.
Read 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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