Frederick Financial Consultants LLC Acquires New Shares in Alphabet Inc. (NASDAQ:GOOGL)

Frederick Financial Consultants LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 3,774 shares of the information services provider's stock, valued at approximately $714,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Alphabet in the fourth quarter worth $24,383,677,000. FMR LLC grew its stake in shares of Alphabet by 9.8% in the fourth quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock worth $47,025,322,000 after purchasing an additional 22,100,902 shares during the last quarter. Wellington Management Group LLP boosted its position in Alphabet by 15.9% during the 4th quarter. Wellington Management Group LLP now owns 66,050,135 shares of the information services provider's stock valued at $12,503,291,000 after acquiring an additional 9,042,271 shares in the last quarter. Proficio Capital Partners LLC increased its holdings in shares of Alphabet by 20,990.0% during the fourth quarter. Proficio Capital Partners LLC now owns 6,186,748 shares of the information services provider's stock valued at $1,171,151,000 after acquiring an additional 6,157,413 shares in the last quarter. Finally, Amundi boosted its position in shares of Alphabet by 18.7% during the fourth quarter. Amundi now owns 29,866,698 shares of the information services provider's stock valued at $5,792,317,000 after buying an additional 4,694,621 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the transaction, the chief executive officer now owns 2,717,696 shares of the company's stock, valued at approximately $430,917,877.76. The trade was a 1.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O'toole sold 1,340 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $202.08, for a total value of $270,787.20. Following the completion of the sale, the chief accounting officer now owns 17,848 shares of the company's stock, valued at $3,606,723.84. This represents a 6.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 148,163 shares of company stock valued at $25,361,647 over the last ninety days. Corporate insiders own 11.55% of the company's stock.

Wall Street Analyst Weigh In

GOOGL has been the topic of several research reports. Royal Bank of Canada reissued an "outperform" rating and issued a $200.00 target price on shares of Alphabet in a research report on Wednesday. Piper Sandler reduced their price target on shares of Alphabet from $208.00 to $185.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Jefferies Financial Group lowered their price target on shares of Alphabet from $235.00 to $200.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Wells Fargo & Company lowered their target price on shares of Alphabet from $184.00 to $167.00 and set an "equal weight" rating for the company in a research note on Monday, March 31st. Finally, Cantor Fitzgerald decreased their price objective on shares of Alphabet from $200.00 to $159.00 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. Ten research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and five have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $199.64.

Alphabet Price Performance

NASDAQ:GOOGL traded up $3.30 during trading hours on Thursday, hitting $158.65. 12,694,269 shares of the stock were exchanged, compared to its average volume of 28,289,101. The company has a market cap of $1.93 trillion, a P/E ratio of 19.70, a P/E/G ratio of 1.34 and a beta of 1.03. The firm's fifty day moving average price is $163.13 and its 200 day moving average price is $175.47. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. As a group, equities research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were issued a $0.20 dividend. The ex-dividend date was Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.50%. Alphabet's dividend payout ratio is presently 9.94%.

Alphabet Profile

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.