Garland Capital Management Inc. acquired a new stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,500 shares of the information services provider's stock, valued at approximately $663,000. Alphabet comprises about 0.5% of Garland Capital Management Inc.'s portfolio, making the stock its 29th biggest position.
A number of other institutional investors have also recently bought and sold shares of GOOGL. Principal Financial Group Inc. raised its holdings in shares of Alphabet by 3.1% in the 3rd quarter. Principal Financial Group Inc. now owns 11,283,594 shares of the information services provider's stock valued at $1,871,384,000 after purchasing an additional 337,031 shares during the period. Capital City Trust Co. FL raised its stake in Alphabet by 1.0% in the third quarter. Capital City Trust Co. FL now owns 65,586 shares of the information services provider's stock valued at $10,877,000 after buying an additional 640 shares during the period. Drive Wealth Management LLC lifted its position in shares of Alphabet by 4.9% in the third quarter. Drive Wealth Management LLC now owns 23,968 shares of the information services provider's stock valued at $3,975,000 after buying an additional 1,118 shares during the last quarter. Cassaday & Co Wealth Management LLC boosted its stake in shares of Alphabet by 3.1% during the 3rd quarter. Cassaday & Co Wealth Management LLC now owns 22,305 shares of the information services provider's stock worth $3,699,000 after acquiring an additional 672 shares during the period. Finally, Tidemark LLC increased its holdings in shares of Alphabet by 2.5% during the 3rd quarter. Tidemark LLC now owns 3,143 shares of the information services provider's stock worth $521,000 after acquiring an additional 77 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.
Alphabet Price Performance
Alphabet stock traded down $5.12 during midday trading on Friday, hitting $145.60. 62,123,086 shares of the company's stock were exchanged, compared to its average volume of 27,597,046. The stock has a 50-day moving average price of $175.15 and a two-hundred day moving average price of $176.81. Alphabet Inc. has a 52-week low of $145.38 and a 52-week high of $207.05. The company has a market cap of $1.77 trillion, a P/E ratio of 18.09, a PEG ratio of 1.34 and a beta of 1.03. 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 posted its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.
Alphabet Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.55%. The ex-dividend date was Monday, March 10th. Alphabet's dividend payout ratio is currently 9.94%.
Wall Street Analysts Forecast Growth
GOOGL has been the topic of a number of research reports. Piper Sandler decreased their price objective on Alphabet from $210.00 to $208.00 and set an "overweight" rating on the stock in a report on Wednesday, February 5th. Citizens Jmp lowered shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, January 2nd. DZ Bank downgraded shares of Alphabet from a "buy" rating to a "hold" rating and set a $198.00 price objective for the company. in a report on Thursday, February 6th. Stifel Nicolaus raised their target price on shares of Alphabet from $200.00 to $225.00 and gave the stock a "buy" rating in a report on Monday, January 13th. Finally, KeyCorp cut their price target on Alphabet from $220.00 to $202.00 and set an "overweight" rating for the company in a research note on Tuesday, March 18th. Ten analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat.com, Alphabet currently has a consensus rating of "Moderate Buy" and a consensus target price of $209.13.
Check Out Our Latest Research Report on Alphabet
Insider Buying and Selling at Alphabet
In other news, CAO Amie Thuener O'toole sold 1,340 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total value of $270,787.20. Following the transaction, the chief accounting officer now owns 17,848 shares in the company, valued at approximately $3,606,723.84. This trade represents a 6.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of the company's stock in a transaction on Monday, January 13th. The shares were sold at an average price of $189.80, for a total transaction of $284,700.00. Following the sale, the director now owns 21,824 shares of the company's stock, valued at $4,142,195.20. This represents a 6.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 119,797 shares of company stock worth $21,089,470 over the last ninety days. Insiders own 11.55% of the company's stock.
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.
Featured Stories
Before you consider Alphabet, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Alphabet wasn't on the list.
While Alphabet currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
