Global Wealth Management Investment Advisory Inc. grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 8.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,655 shares of the information services provider's stock after acquiring an additional 2,392 shares during the quarter. Alphabet comprises about 1.2% of Global Wealth Management Investment Advisory Inc.'s holdings, making the stock its 19th largest position. Global Wealth Management Investment Advisory Inc.'s holdings in Alphabet were worth $5,803,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. State Street Corp increased its stake in shares of Alphabet by 0.3% during the 3rd quarter. State Street Corp now owns 222,555,548 shares of the information services provider's stock valued at $36,910,838,000 after acquiring an additional 743,369 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Alphabet by 2.0% during the 3rd 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 acquiring an additional 2,626,431 shares during the last quarter. JPMorgan Chase & Co. increased its position in Alphabet by 7.7% during 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 purchasing an additional 4,567,275 shares in the last quarter. Fisher Asset Management LLC increased its position in Alphabet by 2.5% during the 3rd quarter. Fisher Asset Management LLC now owns 49,857,900 shares of the information services provider's stock worth $8,268,933,000 after purchasing an additional 1,237,385 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Alphabet by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 37,233,079 shares of the information services provider's stock worth $6,175,106,000 after purchasing an additional 523,416 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.
Insiders Place Their Bets
In other Alphabet news, CAO Amie Thuener O'toole sold 1,340 shares of the firm's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $202.08, for a total transaction of $270,787.20. Following the completion of the sale, the chief accounting officer now directly owns 17,848 shares in the company, valued at approximately $3,606,723.84. This trade represents a 6.98 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of the firm's stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $194.22, for a total value of $291,330.00. Following the sale, the director now owns 23,324 shares of the company's stock, valued at $4,529,987.28. The trade was a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 134,299 shares of company stock worth $25,055,751. 11.55% of the stock is currently owned by company insiders.
Alphabet Trading Down 2.7 %
Shares of NASDAQ:GOOGL traded down $4.90 during midday trading on Friday, reaching $179.66. The company had a trading volume of 35,094,289 shares, compared to its average volume of 28,166,218. 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 Inc. has a 1-year low of $130.66 and a 1-year high of $207.05. The firm has a market cap of $2.19 trillion, a price-to-earnings ratio of 22.32, a price-to-earnings-growth ratio of 1.34 and a beta of 0.99. The company has a fifty day simple moving average of $192.46 and a two-hundred day simple moving average of $175.69.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share 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%. Research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.
Alphabet Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be given a $0.20 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.45%. Alphabet's dividend payout ratio (DPR) is 9.94%.
Wall Street Analyst Weigh In
GOOGL has been the subject of a number of research analyst reports. Royal Bank of Canada increased their target price on shares of Alphabet from $204.00 to $210.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 30th. Stifel Nicolaus increased their target price on shares of Alphabet from $200.00 to $225.00 and gave the stock a "buy" rating in a research report on Monday, January 13th. Truist Financial increased their target price on shares of Alphabet from $220.00 to $225.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. KeyCorp increased their target price on shares of Alphabet from $215.00 to $225.00 and gave the stock an "overweight" rating in a research report on Friday, January 10th. Finally, Phillip Securities raised shares of Alphabet to a "strong-buy" rating in a research report on Friday, November 1st. Ten analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $210.62.
Check Out Our Latest Research Report on GOOGL
About Alphabet
(
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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