iA Global Asset Management Inc. decreased its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 0.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 782,715 shares of the information services provider's stock after selling 2,368 shares during the period. Alphabet makes up about 2.6% of iA Global Asset Management Inc.'s portfolio, making the stock its 8th biggest holding. iA Global Asset Management Inc.'s holdings in Alphabet were worth $148,168,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of Alphabet by 0.3% during the third quarter. State Street Corp now owns 222,555,548 shares of the information services provider's stock worth $36,910,838,000 after purchasing an additional 743,369 shares during the last quarter. Geode Capital Management LLC raised 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 buying an additional 2,626,431 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Alphabet by 7.7% in the 3rd 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. Fisher Asset Management LLC boosted its stake in shares of Alphabet by 1.5% in the fourth quarter. Fisher Asset Management LLC now owns 50,615,038 shares of the information services provider's stock worth $9,581,427,000 after buying an additional 757,138 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Alphabet by 3.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 38,451,718 shares of the information services provider's stock worth $7,278,910,000 after acquiring an additional 1,218,639 shares during the period. Institutional investors and hedge funds own 40.03% of the company's stock.
Wall Street Analyst Weigh In
GOOGL has been the subject of a number of analyst reports. Wedbush boosted their price target on Alphabet from $210.00 to $220.00 and gave the company an "outperform" rating in a report on Monday, January 6th. Roth Mkm reissued a "buy" rating and set a $220.00 price target on shares of Alphabet in a report on Wednesday, March 19th. KeyCorp dropped their price target on shares of Alphabet from $220.00 to $202.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 18th. JMP Securities reiterated a "market perform" rating on shares of Alphabet in a research report on Wednesday, February 5th. Finally, Piper Sandler dropped their target price on Alphabet from $210.00 to $208.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 5th. Ten research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $209.49.
Read Our Latest Stock Report on GOOGL
Alphabet Trading Up 1.6 %
Shares of GOOGL stock traded up $2.43 during trading on Tuesday, hitting $157.07. 30,638,515 shares of the stock traded hands, compared to its average volume of 27,380,987. Alphabet Inc. has a 52-week low of $147.22 and a 52-week high of $207.05. The firm has a market capitalization of $1.91 trillion, a P/E ratio of 19.51, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02. The firm's fifty day moving average price is $178.83 and its 200-day moving average price is $177.10. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84.
Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its earnings results on Tuesday, February 4th. The information services provider reported $2.15 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, research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
Alphabet Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a $0.20 dividend. The ex-dividend date was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.51%. Alphabet's payout ratio is currently 9.94%.
Insiders Place Their Bets
In related news, CAO Amie Thuener O'toole sold 673 shares of the business's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total value of $104,537.09. Following the sale, the chief accounting officer now owns 15,303 shares in the company, valued at approximately $2,377,014.99. The trade was a 4.21 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 29,066 shares of the firm's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $184.89, for a total value of $5,374,012.74. Following the transaction, the director now owns 272,466 shares of the company's stock, valued at $50,376,238.74. This trade represents a 9.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 88,665 shares of company stock valued at $16,198,310 over the last 90 days. 11.55% of the stock is owned by company insiders.
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.
See Also
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
