Seneschal Advisors LLC acquired a new stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,347 shares of the information services provider's stock, valued at approximately $634,000. Alphabet accounts for 0.5% of Seneschal Advisors LLC's investment portfolio, making the stock its 21st largest position.
Other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its stake in shares of Alphabet by 3.1% in the 3rd quarter. Principal Financial Group Inc. now owns 11,283,594 shares of the information services provider's stock valued at $1,871,384,000 after purchasing an additional 337,031 shares in the last quarter. Headinvest LLC lifted its position in Alphabet by 0.8% during the third quarter. Headinvest LLC now owns 47,634 shares of the information services provider's stock valued at $7,900,000 after buying an additional 363 shares in the last quarter. Legacy Investment Solutions LLC purchased a new stake in Alphabet during the third quarter worth approximately $154,000. Dean Investment Associates LLC increased its position in shares of Alphabet by 23.1% in the third quarter. Dean Investment Associates LLC now owns 2,025 shares of the information services provider's stock worth $336,000 after acquiring an additional 380 shares in the last quarter. Finally, Hodges Capital Management Inc. raised its stake in shares of Alphabet by 11.8% in the 3rd quarter. Hodges Capital Management Inc. now owns 17,009 shares of the information services provider's stock valued at $2,821,000 after acquiring an additional 1,795 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.
Alphabet Stock Performance
Alphabet stock traded down $2.25 during midday trading on Friday, reaching $151.08. 32,930,996 shares of the stock traded hands, compared to its average volume of 28,329,951. The firm has a fifty day moving average price of $165.14 and a two-hundred day moving average price of $175.77. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. The firm has a market cap of $1.84 trillion, a price-to-earnings ratio of 18.77, a PEG ratio of 1.34 and a beta of 1.03. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.
Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (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 earnings per share for the current year.
Alphabet Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet's dividend payout ratio (DPR) is 9.94%.
Insider Activity at Alphabet
In related news, Director John L. Hennessy sold 200 shares of the firm'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 in the company, valued at $1,293,285.89. This trade represents a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the sale, the chief executive officer now owns 2,717,696 shares of the company's stock, valued at $430,917,877.76. This trade represents a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 148,163 shares of company stock worth $25,361,647 over the last ninety days. 11.55% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on GOOGL. Morgan Stanley decreased their price target on shares of Alphabet from $210.00 to $185.00 and set an "overweight" rating for the company in a research report on Thursday. Truist Financial lowered their target price on Alphabet from $220.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday. UBS Group set a $190.00 price target on Alphabet in a research report on Thursday, March 27th. Bank of America reaffirmed a "buy" rating and issued a $210.00 price objective on shares of Alphabet in a research report on Monday, December 23rd. Finally, BMO Capital Markets reissued an "outperform" rating and set a $200.00 target price (down from $230.00) on shares of Alphabet in a research report on Thursday. Ten equities 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. According to data from MarketBeat.com, Alphabet presently has an average rating of "Moderate Buy" and an average target price of $200.74.
Get Our Latest Research Report 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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