Essential Planning LLC. lifted its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 4,112.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 152,362 shares of the information services provider's stock after purchasing an additional 148,745 shares during the period. Essential Planning LLC.'s holdings in Alphabet were worth $26,656,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. State Street Corp grew its stake in Alphabet by 0.3% in the third quarter. State Street Corp now owns 222,555,548 shares of the information services provider's stock worth $36,910,838,000 after purchasing an additional 743,369 shares during the period. Geode Capital Management LLC grew its position 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 buying an additional 2,626,431 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Alphabet by 7.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider's stock worth $10,559,240,000 after acquiring an additional 4,567,275 shares in the last quarter. Fisher Asset Management LLC increased its stake in shares of Alphabet by 1.5% in the 4th quarter. Fisher Asset Management LLC now owns 50,615,038 shares of the information services provider's stock worth $9,581,427,000 after acquiring an additional 757,138 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Alphabet by 3.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 38,451,718 shares of the information services provider's stock worth $7,278,910,000 after acquiring an additional 1,218,639 shares in the last quarter. Institutional investors own 40.03% of the company's stock.
Insider Buying and Selling at Alphabet
In related news, insider Ruth Porat sold 17,690 shares of the company's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the completion of the transaction, the insider now owns 1,449,286 shares in the company, valued at approximately $265,914,995.28. This represents a 1.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O'toole sold 1,340 shares of the firm's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total transaction of $270,787.20. Following the transaction, the chief accounting officer now directly owns 17,848 shares of the company's stock, valued at $3,606,723.84. The trade was a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 93,048 shares of company stock valued at $17,374,274 over the last ninety days. 11.55% of the stock is currently owned by company insiders.
Analyst Ratings Changes
A number of brokerages have weighed in on GOOGL. Wolfe Research raised their target price on shares of Alphabet from $220.00 to $230.00 and gave the company an "outperform" rating in a research note on Friday, January 3rd. 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. Piper Sandler cut their target price on Alphabet from $210.00 to $208.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 5th. Needham & Company LLC reaffirmed a "buy" rating and issued a $225.00 price target on shares of Alphabet in a research report on Wednesday, February 5th. Finally, Wedbush upped their price target on shares of Alphabet from $210.00 to $220.00 and gave the stock an "outperform" rating in a research note on Monday, January 6th. Ten analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat, Alphabet has a consensus rating of "Moderate Buy" and a consensus price target of $210.59.
Get Our Latest Analysis on GOOGL
Alphabet Stock Performance
Shares of GOOGL stock traded down $4.42 during trading hours on Wednesday, reaching $166.14. 13,291,069 shares of the company traded hands, compared to its average volume of 25,831,595. The firm has a 50-day moving average price of $181.72 and a 200 day moving average price of $176.86. The company has a market cap of $2.03 trillion, a P/E ratio of 20.62, a P/E/G ratio of 1.34 and a beta of 1.02. Alphabet Inc. has a 12-month low of $147.22 and a 12-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.
Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share 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%. As a group, sell-side analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
Alphabet Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were paid 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 0.48%. Alphabet's payout ratio is presently 9.94%.
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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