Impact Investors Inc acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,885 shares of the information services provider's stock, valued at approximately $735,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of GOOGL. State Street Corp increased its position in Alphabet by 0.3% during the 3rd quarter. State Street Corp now owns 222,555,548 shares of the information services provider's stock worth $36,910,838,000 after buying an additional 743,369 shares during the period. Geode Capital Management LLC boosted its position in Alphabet by 2.0% in the third 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 in the last quarter. JPMorgan Chase & Co. increased its holdings in Alphabet by 7.7% in the third quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider's stock valued at $10,559,240,000 after purchasing an additional 4,567,275 shares during the period. Fisher Asset Management LLC increased its stake in shares of Alphabet by 2.5% in the 3rd quarter. Fisher Asset Management LLC now owns 49,857,900 shares of the information services provider's stock valued at $8,268,933,000 after acquiring an additional 1,237,385 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Alphabet by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 37,233,079 shares of the information services provider's stock valued at $6,175,106,000 after acquiring an additional 523,416 shares during the period. Institutional investors own 40.03% of the company's stock.
Insiders Place Their Bets
In related news, CAO Amie Thuener O'toole sold 1,374 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $173.47, for a total transaction of $238,347.78. Following the transaction, the chief accounting officer now owns 15,024 shares of the company's stock, valued at approximately $2,606,213.28. This trade represents a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $3,245,761.20. Following the transaction, the insider now owns 1,449,286 shares in the company, valued at approximately $265,914,995.28. This trade represents a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 97,182 shares of company stock worth $18,192,354 in the last quarter. 11.55% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of research analysts have recently weighed in on GOOGL shares. Needham & Company LLC restated a "buy" rating and issued a $225.00 target price on shares of Alphabet in a report on Wednesday, February 5th. Wells Fargo & Company boosted their price target on shares of Alphabet from $187.00 to $190.00 and gave the company an "equal weight" rating in a research report on Monday, January 13th. Stifel Nicolaus increased their price target on shares of Alphabet from $200.00 to $225.00 and gave the stock a "buy" rating in a report on Monday, January 13th. Piper Sandler decreased their target price on Alphabet from $210.00 to $208.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 5th. Finally, Robert W. Baird reiterated an "outperform" rating and set a $205.00 price target on shares of Alphabet in a research report on Tuesday, December 10th. 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 MarketBeat.com, Alphabet has a consensus rating of "Moderate Buy" and a consensus target price of $210.62.
Read Our Latest Analysis on Alphabet
Alphabet Stock Down 1.1 %
GOOGL opened at $164.04 on Wednesday. The stock's 50 day moving average price is $187.20 and its 200 day moving average price is $176.55. The stock has a market cap of $2.00 trillion, a P/E ratio of 20.38, a P/E/G ratio of 1.34 and a beta of 1.02. Alphabet Inc. has a 12 month low of $137.03 and a 12 month high of $207.05. 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 quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. As a group, research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.
Alphabet Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.49%. Alphabet's dividend payout ratio is presently 9.94%.
Alphabet Profile
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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.
See Also
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