Ferguson Wellman Capital Management Inc. cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,424,062 shares of the information services provider's stock after selling 19,521 shares during the period. Alphabet makes up about 5.1% of Ferguson Wellman Capital Management Inc.'s holdings, making the stock its 3rd biggest position. Ferguson Wellman Capital Management Inc.'s holdings in Alphabet were worth $269,575,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC raised its position in Alphabet by 43,005.6% during the third quarter. International Assets Investment Management LLC now owns 18,743,594 shares of the information services provider's stock valued at $31,086,250,000 after buying an additional 18,700,111 shares during the period. Assenagon Asset Management S.A. raised its position in Alphabet by 116.4% during the third quarter. Assenagon Asset Management S.A. now owns 8,670,225 shares of the information services provider's stock valued at $1,437,957,000 after buying an additional 4,662,809 shares during the period. JPMorgan Chase & Co. raised its position in Alphabet by 7.7% during the third quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider's stock valued at $10,559,240,000 after buying an additional 4,567,275 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Alphabet during the third quarter valued at $513,024,000. Finally, Geode Capital Management LLC raised its position in Alphabet by 2.0% during 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 period. 40.03% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on GOOGL. Robert W. Baird reissued an "outperform" rating and set a $205.00 price target on shares of Alphabet in a research report on Tuesday, December 10th. The Goldman Sachs Group reissued a "buy" rating and set a $210.00 price target on shares of Alphabet in a research report on Thursday, December 12th. Wolfe Research upped their price target on Alphabet from $220.00 to $230.00 and gave the company an "outperform" rating in a research report on Friday, January 3rd. JMP Securities restated a "market perform" rating on shares of Alphabet in a research note on Wednesday, February 5th. Finally, Roth Mkm boosted their target price on Alphabet from $206.00 to $212.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $210.62.
Check Out Our Latest Analysis on Alphabet
Insider Buying and Selling at Alphabet
In other news, insider Ruth Porat sold 17,690 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $183.48, for a total value of $3,245,761.20. Following the completion of the transaction, the insider now directly owns 1,449,286 shares of the company's stock, valued at approximately $265,914,995.28. This represents a 1.21 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O'toole sold 1,367 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total value of $232,950.47. Following the completion of the transaction, the chief accounting officer now directly owns 23,515 shares of the company's stock, valued at approximately $4,007,191.15. The trade was a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 134,299 shares of company stock valued at $25,055,751 in the last quarter. Corporate insiders own 11.55% of the company's stock.
Alphabet Stock Performance
Alphabet stock traded down $4.90 during trading hours on Friday, hitting $179.66. The stock had a trading volume of 35,094,289 shares, compared to its average volume of 28,166,218. The company has a 50-day moving average of $192.46 and a two-hundred day moving average of $175.69. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a market cap of $2.19 trillion, a PE ratio of 22.32, a price-to-earnings-growth ratio of 1.34 and a beta of 0.99. Alphabet Inc. has a fifty-two week low of $130.66 and a fifty-two week high of $207.05.
Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. On average, equities research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.
Alphabet Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders 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 annualized dividend and a yield of 0.45%. Alphabet's dividend payout ratio (DPR) is 9.94%.
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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