Hickory Point Bank & Trust acquired a new position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 7,850 shares of the information services provider's stock, valued at approximately $1,486,000. Alphabet accounts for about 1.3% of Hickory Point Bank & Trust's portfolio, making the stock its 12th largest position.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOOGL. Pettinga Financial Advisors LLC raised its holdings in Alphabet by 10.1% during the 3rd quarter. Pettinga Financial Advisors LLC now owns 2,186 shares of the information services provider's stock valued at $363,000 after acquiring an additional 201 shares during the period. Princeton Global Asset Management LLC lifted its holdings in Alphabet by 5.0% during the 3rd quarter. Princeton Global Asset Management LLC now owns 62,452 shares of the information services provider's stock worth $10,358,000 after purchasing an additional 2,953 shares in the last quarter. Clear Creek Financial Management LLC boosted its stake in Alphabet by 1.5% in the 3rd quarter. Clear Creek Financial Management LLC now owns 18,062 shares of the information services provider's stock worth $2,996,000 after purchasing an additional 262 shares during the period. Conning Inc. grew its holdings in Alphabet by 5.3% during the 3rd quarter. Conning Inc. now owns 70,991 shares of the information services provider's stock valued at $11,774,000 after buying an additional 3,560 shares in the last quarter. Finally, Royal Harbor Partners LLC increased its position in shares of Alphabet by 1.6% during the third quarter. Royal Harbor Partners LLC now owns 18,881 shares of the information services provider's stock valued at $3,131,000 after buying an additional 303 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on GOOGL shares. Wedbush upped their target price on shares of Alphabet from $210.00 to $220.00 and gave the stock an "outperform" rating in a report on Monday, January 6th. Needham & Company LLC reissued a "buy" rating and set a $225.00 price objective on shares of Alphabet in a research note on Wednesday, February 5th. DA Davidson upped their target price on Alphabet from $190.00 to $200.00 and gave the stock a "neutral" rating in a research note on Friday, January 24th. Piper Sandler dropped their price target on Alphabet from $210.00 to $208.00 and set an "overweight" rating for the company in a research report on Wednesday, February 5th. Finally, Wolfe Research upped their price objective on shares of Alphabet from $220.00 to $230.00 and gave the stock an "outperform" rating in a research report on Friday, January 3rd. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $210.59.
Check Out Our Latest Stock Report on Alphabet
Alphabet Stock Up 3.1 %
GOOGL traded up $5.03 during trading on Wednesday, reaching $165.70. The stock had a trading volume of 19,334,186 shares, compared to its average volume of 25,764,349. Alphabet Inc. has a one year low of $146.08 and a one year high of $207.05. The company has a market capitalization of $2.02 trillion, a price-to-earnings ratio of 20.56, a P/E/G ratio of 1.34 and a beta of 1.02. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock's 50 day moving average is $184.35 and its two-hundred day moving average is $176.56.
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 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, analysts expect 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. Stockholders 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 annualized dividend and a dividend yield of 0.48%. Alphabet's dividend payout ratio is presently 9.94%.
Insider Activity
In other news, insider Ruth Porat sold 17,690 shares of the firm's stock in a transaction dated 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 sale, the insider now owns 1,449,286 shares of the company's stock, valued at $265,914,995.28. This trade represents a 1.21 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John L. Hennessy sold 200 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the transaction, the director now owns 7,813 shares in the company, valued at approximately $1,293,285.89. This trade represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 93,048 shares of company stock worth $17,374,274 over the last 90 days. 11.55% of the stock is currently owned by insiders.
About Alphabet
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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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