Picton Mahoney Asset Management grew its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 15.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 124,876 shares of the information services provider's stock after purchasing an additional 16,287 shares during the period. Alphabet comprises about 0.7% of Picton Mahoney Asset Management's portfolio, making the stock its 27th largest position. Picton Mahoney Asset Management's holdings in Alphabet were worth $23,641,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in GOOGL. United Capital Management of KS Inc. bought a new position in shares of Alphabet during the 4th quarter valued at about $7,708,000. Greatmark Investment Partners Inc. raised its holdings in Alphabet by 1.6% during the 4th quarter. Greatmark Investment Partners Inc. now owns 6,470 shares of the information services provider's stock worth $1,225,000 after buying an additional 105 shares during the period. HMV Wealth Advisors LLC bought a new position in Alphabet in the fourth quarter valued at approximately $1,300,000. First National Trust Co boosted its holdings in shares of Alphabet by 2.2% in the fourth quarter. First National Trust Co now owns 291,637 shares of the information services provider's stock valued at $55,207,000 after buying an additional 6,265 shares during the period. Finally, Brown Miller Wealth Management LLC increased its position in shares of Alphabet by 1.6% during the fourth quarter. Brown Miller Wealth Management LLC now owns 31,090 shares of the information services provider's stock worth $5,886,000 after acquiring an additional 477 shares in the last quarter. 40.03% of the stock is owned by institutional investors.
Insider Transactions at Alphabet
In related news, insider John Kent Walker sold 16,820 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were 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. This trade represents a 27.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 transaction of $33,106.00. Following the transaction, the director now owns 7,813 shares of the company's stock, 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 ninety days, insiders have sold 104,812 shares of company stock valued at $19,336,979. 11.55% of the stock is currently owned by company insiders.
Alphabet Stock Performance
GOOGL traded down $7.91 during trading on Friday, hitting $154.33. The stock had a trading volume of 48,610,349 shares, compared to its average volume of 27,276,841. 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 company has a 50 day moving average price of $179.66 and a 200-day moving average price of $177.10. Alphabet Inc. has a one year low of $147.22 and a one year high of $207.05. The firm has a market cap of $1.88 trillion, a price-to-earnings ratio of 19.17, a P/E/G ratio of 1.34 and a beta of 1.02.
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, 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%. As a group, research analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.
Alphabet Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a dividend of $0.20 per share. The ex-dividend date was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.52%. Alphabet's payout ratio is presently 9.94%.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on GOOGL shares. Wolfe Research upped their target price on shares of Alphabet from $220.00 to $230.00 and gave the stock an "outperform" rating in a research note on Friday, January 3rd. Stifel Nicolaus upped their price objective on Alphabet from $200.00 to $225.00 and gave the stock a "buy" rating in a research report on Monday, January 13th. The Goldman Sachs Group reissued a "buy" rating and issued a $210.00 target price on shares of Alphabet in a research report on Thursday, December 12th. Rosenblatt Securities restated a "neutral" rating and issued a $205.00 target price on shares of Alphabet in a research note on Wednesday, March 19th. Finally, DA Davidson raised their price target on shares of Alphabet from $190.00 to $200.00 and gave the stock a "neutral" rating in a research note on Friday, January 24th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, Alphabet presently has an average rating of "Moderate Buy" and an average price target of $210.59.
Read Our Latest Stock Analysis on Alphabet
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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