Postrock Partners LLC purchased a new position in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 27,740 shares of the information services provider's stock, valued at approximately $5,283,000. Alphabet accounts for approximately 2.6% of Postrock Partners LLC's holdings, making the stock its 10th biggest position.
Other institutional investors and hedge funds have also modified their holdings of the company. FMR LLC raised its position in shares of Alphabet by 5.2% during the 3rd quarter. FMR LLC now owns 114,802,133 shares of the information services provider's stock valued at $19,193,768,000 after acquiring an additional 5,655,022 shares during the last quarter. Geode Capital Management LLC increased its holdings in Alphabet by 0.3% in the third quarter. Geode Capital Management LLC now owns 103,557,486 shares of the information services provider's stock valued at $17,247,208,000 after purchasing an additional 259,213 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Alphabet by 10.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,334,082 shares of the information services provider's stock valued at $5,573,125,000 after buying an additional 3,113,395 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Alphabet by 2.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 30,824,307 shares of the information services provider's stock valued at $5,870,181,000 after buying an additional 875,480 shares during the period. Finally, Jennison Associates LLC boosted its holdings in Alphabet by 9.1% during the third quarter. Jennison Associates LLC now owns 15,424,324 shares of the information services provider's stock worth $2,578,793,000 after buying an additional 1,291,274 shares during the last quarter. 27.26% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
GOOG has been the subject of a number of recent analyst reports. Oppenheimer upped their price target on Alphabet from $215.00 to $225.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. Benchmark reaffirmed a "negative" rating on shares of Alphabet in a research note on Wednesday, February 5th. Needham & Company LLC reissued a "buy" rating on shares of Alphabet in a research report on Wednesday, February 5th. Morgan Stanley reissued an "overweight" rating on shares of Alphabet in a report on Wednesday, February 5th. Finally, Citizens Jmp downgraded Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, Alphabet currently has an average rating of "Moderate Buy" and a consensus target price of $209.13.
Read Our Latest Research Report on GOOG
Alphabet Price Performance
NASDAQ:GOOG opened at $164.73 on Friday. Alphabet Inc. has a 52-week low of $141.13 and a 52-week high of $208.70. The company has a market cap of $2.01 trillion, a P/E ratio of 20.46, a P/E/G ratio of 1.34 and a beta of 1.03. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The stock's 50-day simple moving average is $187.92 and its 200 day simple moving average is $177.92.
Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping the consensus estimate 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, sell-side analysts forecast that Alphabet Inc. will post 8.89 EPS for the current fiscal year.
Alphabet Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date is Monday, March 10th. Alphabet's dividend payout ratio is currently 9.94%.
Insider Activity
In other news, CAO Amie Thuener O'toole sold 2,834 shares of the firm's stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $197.55, for a total value of $559,856.70. Following the completion of the sale, the chief accounting officer now directly owns 20,681 shares of the company's stock, valued at $4,085,531.55. This trade represents a 12.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction that occurred 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 transaction, the director now owns 7,813 shares of the company's stock, valued at $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. Insiders sold a total of 95,882 shares of company stock valued at $17,934,130 in the last quarter. Company insiders own 12.99% of the company's stock.
Alphabet Profile
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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
Want to see what other hedge funds are holding GOOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOG - Free Report).
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