Invesco Ltd. decreased its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.5% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 43,055,169 shares of the information services provider's stock after selling 653,444 shares during the period. Alphabet comprises approximately 1.5% of Invesco Ltd.'s portfolio, making the stock its 7th biggest holding. Invesco Ltd. owned 0.35% of Alphabet worth $8,150,344,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in GOOGL. Community Bank N.A. lifted its holdings in Alphabet by 6.4% in the 4th quarter. Community Bank N.A. now owns 46,173 shares of the information services provider's stock valued at $8,741,000 after purchasing an additional 2,790 shares in the last quarter. Premier Fund Managers Ltd raised its position in shares of Alphabet by 30.0% in the fourth quarter. Premier Fund Managers Ltd now owns 61,792 shares of the information services provider's stock valued at $11,816,000 after buying an additional 14,262 shares during the last quarter. Absolute Capital Management LLC lifted its stake in shares of Alphabet by 14.0% during the fourth quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider's stock valued at $401,000 after buying an additional 258 shares during the period. Permanent Capital Management LP acquired a new stake in Alphabet during the fourth quarter worth approximately $273,000. Finally, Glass Wealth Management Co LLC boosted its position in Alphabet by 4.5% during the fourth quarter. Glass Wealth Management Co LLC now owns 37,054 shares of the information services provider's stock worth $7,014,000 after acquiring an additional 1,580 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.
Alphabet Stock Down 2.8 %
Shares of GOOGL traded down $4.39 during trading on Wednesday, reaching $151.92. The company's stock had a trading volume of 16,656,176 shares, compared to its average volume of 28,184,389. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a market cap of $1.85 trillion, a price-to-earnings ratio of 18.87, a P/E/G ratio of 1.34 and a beta of 1.03. The company has a fifty day moving average of $167.17 and a two-hundred day moving average of $176.14.
Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data 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 net margin of 28.60% and a return on equity of 32.49%. On average, sell-side analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.
Alphabet Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date was Monday, March 10th. Alphabet's dividend payout ratio is presently 9.94%.
Insider Activity
In other Alphabet news, CAO Amie Thuener O'toole sold 1,340 shares of Alphabet stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the completion of the transaction, the chief accounting officer now directly owns 17,848 shares in the company, valued at $3,606,723.84. The trade was a 6.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00. Following the transaction, the chief executive officer now directly owns 2,717,696 shares of the company's stock, valued at $430,917,877.76. This trade represents a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 115,663 shares of company stock worth $20,286,447. 11.55% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on GOOGL. KeyCorp decreased their price objective on Alphabet from $220.00 to $202.00 and set an "overweight" rating on the stock in a report on Tuesday, March 18th. Wells Fargo & Company decreased their price target on Alphabet from $184.00 to $167.00 and set an "equal weight" rating on the stock in a research note on Monday, March 31st. Jefferies Financial Group dropped their price objective on shares of Alphabet from $235.00 to $200.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Roth Mkm reiterated a "buy" rating and set a $220.00 price objective on shares of Alphabet in a report on Wednesday, March 19th. Finally, Mizuho lowered their target price on shares of Alphabet from $230.00 to $205.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Ten research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $202.46.
Check Out Our Latest Stock 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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