PGGM Investments lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 793,264 shares of the information services provider's stock after selling 15,669 shares during the period. Alphabet comprises about 2.0% of PGGM Investments' investment portfolio, making the stock its 10th biggest position. PGGM Investments' holdings in Alphabet were worth $150,165,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in the business. Proficio Capital Partners LLC grew its holdings in shares of Alphabet by 20,990.0% in the fourth quarter. Proficio Capital Partners LLC now owns 6,186,748 shares of the information services provider's stock worth $1,171,151,000 after purchasing an additional 6,157,413 shares during the last quarter. Amundi grew its holdings in Alphabet by 18.7% in the 4th quarter. Amundi now owns 29,866,698 shares of the information services provider's stock worth $5,792,317,000 after acquiring an additional 4,694,621 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Alphabet by 7.7% in 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 acquiring an additional 4,567,275 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Alphabet in the third quarter valued at about $513,024,000. Finally, 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 acquiring an additional 2,626,431 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.
Insider Transactions at Alphabet
In related news, Director Kavitark Ram Shriram sold 29,066 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $184.89, for a total value of $5,374,012.74. Following the completion of the sale, the director now directly owns 272,466 shares of the company's stock, valued at approximately $50,376,238.74. This represents a 9.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John Kent Walker sold 16,820 shares of the firm's stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the sale, the insider now owns 43,981 shares in the company, valued at approximately $8,471,620.22. The trade was a 27.66 % 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 in the last three months. Corporate insiders own 11.55% of the company's stock.
Analyst Ratings Changes
GOOGL has been the topic of several recent analyst reports. DZ Bank cut Alphabet from a "buy" rating to a "hold" rating and set a $198.00 target price on the stock. in a research note on Thursday, February 6th. Wolfe Research lifted their price objective on Alphabet from $220.00 to $230.00 and gave the stock an "outperform" rating in a research report on Friday, January 3rd. Cantor Fitzgerald restated a "neutral" rating and set a $200.00 target price on shares of Alphabet in a report on Wednesday, March 19th. Citigroup cut their price target on shares of Alphabet from $232.00 to $229.00 and set a "buy" rating on the stock in a report on Wednesday, February 5th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Alphabet from $232.00 to $220.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 5th. Ten research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $210.59.
Check Out Our Latest Stock Analysis on Alphabet
Alphabet Stock Performance
NASDAQ:GOOGL traded down $4.42 during mid-day trading on Wednesday, reaching $166.14. The company's stock had a trading volume of 13,643,897 shares, compared to its average volume of 30,132,676. The firm's fifty day moving average price is $181.72 and its two-hundred day moving average price is $176.86. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock has a market cap of $2.03 trillion, a P/E ratio of 20.64, a PEG ratio of 1.34 and a beta of 1.02. Alphabet Inc. has a 12-month low of $147.21 and a 12-month high of $207.05.
Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its 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 return on equity of 32.49% and a net margin of 28.60%. On average, equities analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.
Alphabet Announces Dividend
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 dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet's payout ratio is 9.94%.
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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