North Forty Two & Co. Invests $504,000 in Alphabet Inc. (NASDAQ:GOOGL)

North Forty Two & Co. bought a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 2,665 shares of the information services provider's stock, valued at approximately $504,000.

Several other institutional investors also recently modified their holdings of GOOGL. Pettinga Financial Advisors LLC boosted its position in Alphabet by 10.1% in the third quarter. Pettinga Financial Advisors LLC now owns 2,186 shares of the information services provider's stock worth $363,000 after purchasing an additional 201 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Alphabet by 3.1% during the 3rd quarter. Principal Financial Group Inc. now owns 11,283,594 shares of the information services provider's stock valued at $1,871,384,000 after acquiring an additional 337,031 shares during the period. Comgest Global Investors S.A.S. raised its holdings in Alphabet by 6.8% in the 3rd quarter. Comgest Global Investors S.A.S. now owns 1,568,198 shares of the information services provider's stock worth $260,086,000 after purchasing an additional 99,968 shares during the period. Cutler Investment Counsel LLC lifted its position in Alphabet by 1.7% during the third quarter. Cutler Investment Counsel LLC now owns 3,663 shares of the information services provider's stock valued at $607,000 after purchasing an additional 61 shares in the last quarter. Finally, River Street Advisors LLC grew its holdings in Alphabet by 1.6% during the third quarter. River Street Advisors LLC now owns 15,243 shares of the information services provider's stock valued at $2,528,000 after purchasing an additional 244 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Stifel Nicolaus lifted their price target on shares of Alphabet from $200.00 to $225.00 and gave the company a "buy" rating in a report on Monday, January 13th. Piper Sandler cut their target price on shares of Alphabet from $210.00 to $208.00 and set an "overweight" rating for the company in a research note on Wednesday, February 5th. Wedbush raised their price objective on Alphabet from $210.00 to $220.00 and gave the company an "outperform" rating in a research report on Monday, January 6th. 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. Finally, Rosenblatt Securities reaffirmed a "neutral" rating and issued a $205.00 price target on shares of Alphabet in a report on Wednesday, March 19th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $209.49.

Insider Activity

In related news, Director Kavitark Ram Shriram sold 29,066 shares of Alphabet stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $184.89, for a total transaction of $5,374,012.74. Following the completion of the transaction, the director now directly owns 272,466 shares in the company, valued at approximately $50,376,238.74. This trade represents a 9.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the transaction, the director now directly owns 7,813 shares of the company's stock, valued at approximately $1,293,285.89. This trade represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 87,992 shares of company stock valued at $16,093,773 over the last ninety days. 11.55% of the stock is currently owned by insiders.

Alphabet Stock Up 1.6 %

NASDAQ GOOGL traded up $2.43 during midday trading on Tuesday, hitting $157.07. 30,630,658 shares of the company traded hands, compared to its average volume of 27,398,097. Alphabet Inc. has a 52 week low of $147.22 and a 52 week high of $207.05. The company's 50-day simple moving average is $178.83 and its 200-day simple moving average is $177.10. The company has a market cap of $1.91 trillion, a PE ratio of 19.51, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02. 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 released its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share 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%. As a group, equities research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently declared 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 was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.51%. Alphabet's dividend payout ratio is currently 9.94%.

About Alphabet

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.