Kera Capital Partners Inc. bought a new stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 3,804 shares of the information services provider's stock, valued at approximately $720,000.
Other hedge funds also recently added to or reduced their stakes in the company. State Street Corp raised its stake 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 valued at $36,910,838,000 after purchasing an additional 743,369 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Alphabet by 2.0% during 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 purchasing an additional 2,626,431 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Alphabet by 7.7% during 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 in the last quarter. Fisher Asset Management LLC raised its stake in shares of Alphabet by 2.5% during the third 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 purchasing an additional 1,237,385 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Alphabet by 1.4% during 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 purchasing an additional 523,416 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.
Alphabet Stock Performance
Shares of GOOGL stock traded up $1.02 during trading hours on Wednesday, reaching $199.07. 9,974,715 shares of the company's stock were exchanged, compared to its average volume of 22,481,398. Alphabet Inc. has a fifty-two week low of $130.66 and a fifty-two week high of $202.29. The stock has a market capitalization of $2.44 trillion, a P/E ratio of 26.43, a P/E/G ratio of 1.26 and a beta of 0.98. The business has a fifty day moving average price of $185.07 and a 200-day moving average price of $173.38. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.
Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping analysts' consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. During the same period in the previous year, the company earned $1.55 earnings per share. Analysts predict that Alphabet Inc. will post 8.03 EPS for the current fiscal year.
Alphabet Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet's dividend payout ratio is presently 10.61%.
Analyst Upgrades and Downgrades
GOOGL has been the topic of a number of recent analyst reports. Wolfe Research lifted their price objective on shares of Alphabet from $220.00 to $230.00 and gave the company an "outperform" rating in a research note on Friday, January 3rd. Needham & Company LLC reiterated a "buy" rating and issued a $210.00 price target on shares of Alphabet in a research report on Wednesday, October 30th. Pivotal Research boosted their price target on shares of Alphabet from $215.00 to $225.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. Scotiabank upgraded shares of Alphabet to a "strong-buy" rating in a research report on Friday, October 11th. Finally, Truist Financial boosted their price target 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. Nine investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat.com, Alphabet has an average rating of "Moderate Buy" and an average price target of $208.67.
Get Our Latest Analysis on GOOGL
Insider Activity
In other Alphabet news, Director Kavitark Ram Shriram sold 37,134 shares of the company's stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total value of $6,870,532.68. Following the sale, the director now directly owns 282,832 shares in the company, valued at $52,329,576.64. This represents a 11.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $177.36, for a total value of $3,990,600.00. Following the sale, the chief executive officer now owns 2,084,306 shares in the company, valued at $369,672,512.16. The trade was a 1.07 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 133,387 shares of company stock worth $24,368,654. Company insiders own 11.55% of the company's stock.
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.
Further Reading
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
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know?
Get This Free Report
