OVERSEA CHINESE BANKING Corp Ltd decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 8.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 730,268 shares of the information services provider's stock after selling 71,085 shares during the quarter. Alphabet accounts for approximately 3.9% of OVERSEA CHINESE BANKING Corp Ltd's holdings, making the stock its 5th largest position. OVERSEA CHINESE BANKING Corp Ltd's holdings in Alphabet were worth $138,442,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the business. State Street Corp lifted its position in Alphabet by 0.3% in the third quarter. State Street Corp now owns 222,555,548 shares of the information services provider's stock worth $36,910,838,000 after purchasing an additional 743,369 shares during the period. Geode Capital Management LLC lifted its holdings in shares of 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 during the period. JPMorgan Chase & Co. boosted its stake in 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 buying an additional 4,567,275 shares in the last quarter. Fisher Asset Management LLC grew its holdings in Alphabet by 1.5% during the fourth quarter. Fisher Asset Management LLC now owns 50,615,038 shares of the information services provider's stock worth $9,581,427,000 after acquiring an additional 757,138 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Alphabet by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 38,451,718 shares of the information services provider's stock worth $7,278,910,000 after acquiring an additional 1,218,639 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
GOOGL has been the topic of several recent research reports. Piper Sandler lowered their price objective on shares of Alphabet from $210.00 to $208.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 5th. Jefferies Financial Group decreased their price target on shares of Alphabet from $235.00 to $200.00 and set a "buy" rating on the stock in a research report on Monday. Wolfe Research increased their price objective on Alphabet from $220.00 to $230.00 and gave the company an "outperform" rating in a research report on Friday, January 3rd. Citizens Jmp cut Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 2nd. Finally, DA Davidson boosted their target price on Alphabet from $190.00 to $200.00 and gave the stock a "neutral" rating in a research report on Friday, January 24th. Ten research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and five have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $209.49.
Get Our Latest Research Report on Alphabet
Insider Transactions at Alphabet
In other Alphabet news, CAO Amie Thuener O'toole sold 2,834 shares of the firm's stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $194.32, for a total value of $550,702.88. Following the completion of the sale, the chief accounting officer now owns 17,847 shares in the company, valued at approximately $3,468,029.04. This trade represents a 13.70 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 200 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total value of $33,106.00. Following the sale, 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 88,665 shares of company stock worth $16,198,310. Insiders own 11.55% of the company's stock.
Alphabet Stock Performance
NASDAQ:GOOGL traded down $0.03 during midday trading on Wednesday, reaching $157.04. The stock had a trading volume of 24,682,619 shares, compared to its average volume of 27,382,781. The stock has a market capitalization of $1.91 trillion, a P/E ratio of 19.51, a PEG ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a 1-year low of $147.22 and a 1-year 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's fifty day simple moving average is $177.19 and its 200-day simple moving average is $176.95.
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, topping analysts' consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. On average, equities research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.
Alphabet Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.51%. Alphabet's dividend payout ratio is 9.94%.
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.
See Also
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
Need to stretch out your 401K or Roth IRA plan? Use these time-tested investing strategies to grow the monthly retirement income that your stock portfolio generates.
Get This Free Report
