Prudential PLC decreased its position in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 3.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 586,700 shares of the information services provider's stock after selling 21,896 shares during the period. Alphabet makes up 0.6% of Prudential PLC's portfolio, making the stock its 15th largest position. Prudential PLC's holdings in Alphabet were worth $111,731,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in the company. Weiss Asset Management LP bought a new stake in shares of Alphabet during the third quarter worth $25,000. Fiduciary Advisors Inc. bought a new position in Alphabet during the 4th quarter worth about $27,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of Alphabet in the 3rd quarter valued at about $33,000. WealthTrak Capital Management LLC bought a new stake in shares of Alphabet in the fourth quarter valued at about $38,000. Finally, Mountain Hill Investment Partners Corp. acquired a new position in shares of Alphabet during the fourth quarter worth about $39,000. Institutional investors own 27.26% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on GOOG shares. Benchmark reaffirmed a "negative" rating on shares of Alphabet in a research report on Wednesday, February 5th. Wedbush restated an "outperform" rating and set a $220.00 target price on shares of Alphabet in a report on Thursday, January 30th. Oppenheimer lifted their price target on shares of Alphabet from $215.00 to $225.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. The Goldman Sachs Group restated a "buy" rating on shares of Alphabet in a research note on Wednesday, February 5th. Finally, Westpark Capital assumed coverage on Alphabet in a research report on Tuesday. They issued a "buy" rating and a $210.00 target price on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Alphabet currently has an average rating of "Moderate Buy" and a consensus price target of $208.65.
Check Out Our Latest Analysis on GOOG
Alphabet Stock Performance
Shares of GOOG traded down $4.89 during trading hours on Friday, hitting $147.74. The company had a trading volume of 39,777,547 shares, compared to its average volume of 19,017,938. The business has a fifty day moving average of $177.04 and a 200-day moving average of $178.30. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm has a market cap of $1.80 trillion, a price-to-earnings ratio of 18.35, a PEG ratio of 1.34 and a beta of 1.04. Alphabet Inc. has a 12 month low of $146.24 and a 12 month high of $208.70.
Alphabet (NASDAQ:GOOG - 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 the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Equities analysts anticipate 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 was paid on Monday, March 17th. Investors of record on Monday, March 10th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.54%. Alphabet's payout ratio is currently 9.94%.
Insider Activity at Alphabet
In other Alphabet news, insider Ruth Porat sold 17,690 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the transaction, the insider now owns 1,449,286 shares in the company, valued at $265,914,995.28. This represents a 1.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $189.80, for a total transaction of $284,700.00. Following the completion of the sale, the director now owns 21,824 shares of the company's stock, valued at approximately $4,142,195.20. The trade was a 6.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 87,297 shares of company stock worth $15,936,270 in the last ninety days. 12.99% of the stock is owned by company insiders.
About Alphabet
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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.
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