Miller Financial Services LLC acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,609 shares of the information services provider's stock, valued at approximately $683,000.
Several other hedge funds have also recently bought and sold shares of GOOGL. Bennett Selby Investments LP raised its holdings in shares of Alphabet by 4.0% in the 4th quarter. Bennett Selby Investments LP now owns 1,354 shares of the information services provider's stock worth $256,000 after acquiring an additional 52 shares during the last quarter. Macroview Investment Management LLC raised its stake in shares of Alphabet by 4.2% in the fourth quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider's stock worth $245,000 after purchasing an additional 52 shares during the last quarter. Conrad Siegel Investment Advisors Inc. lifted its holdings in shares of Alphabet by 0.5% in the fourth quarter. Conrad Siegel Investment Advisors Inc. now owns 9,845 shares of the information services provider's stock valued at $1,864,000 after purchasing an additional 53 shares in the last quarter. Cornerstone Planning Group LLC boosted its position in shares of Alphabet by 2.3% during the fourth quarter. Cornerstone Planning Group LLC now owns 2,381 shares of the information services provider's stock valued at $457,000 after buying an additional 53 shares during the last quarter. Finally, Addison Advisors LLC boosted its position in shares of Alphabet by 0.7% during the fourth quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider's stock valued at $1,425,000 after buying an additional 53 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities analysts have weighed in on the company. Cantor Fitzgerald restated a "neutral" rating and set a $200.00 price objective on shares of Alphabet in a research note on Wednesday, March 19th. Wolfe Research raised their price target on shares of Alphabet from $220.00 to $230.00 and gave the company an "outperform" rating in a research report on Friday, January 3rd. Bank of America reaffirmed a "buy" rating and issued a $210.00 price objective on shares of Alphabet in a research report on Monday, December 23rd. Wells Fargo & Company boosted their target price on Alphabet from $187.00 to $190.00 and gave the stock an "equal weight" rating in a research note on Monday, January 13th. Finally, The Goldman Sachs Group restated a "buy" rating and issued a $210.00 price objective on shares of Alphabet in a research note on Thursday, December 12th. Ten investment 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. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $210.59.
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Alphabet Trading Down 1.7 %
GOOGL traded down $2.82 during midday trading on Thursday, reaching $162.24. 24,457,915 shares of the company's stock traded hands, compared to its average volume of 25,900,177. Alphabet Inc. has a 52 week low of $147.22 and a 52 week 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. The firm has a fifty day moving average of $181.11 and a two-hundred day moving average of $176.78. The stock has a market capitalization of $1.98 trillion, a price-to-earnings ratio of 20.15, a P/E/G ratio of 1.34 and a beta of 1.02.
Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (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, equities analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
Alphabet Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.49%. Alphabet's dividend payout ratio (DPR) is presently 9.94%.
Insiders Place Their Bets
In other Alphabet news, Director John L. Hennessy sold 200 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total value of $33,106.00. Following the completion of the transaction, the director now owns 7,813 shares in the company, valued at approximately $1,293,285.89. This represents a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O'toole sold 1,374 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $173.47, for a total value of $238,347.78. Following the transaction, the chief accounting officer now directly owns 15,024 shares of the company's stock, valued at $2,606,213.28. This represents a 8.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 93,048 shares of company stock worth $17,374,274 over the last three months. Company insiders own 11.55% of the company's stock.
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.
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