Sherman Asset Management Inc. Acquires Shares of 19,140 Alphabet Inc. (NASDAQ:GOOGL)

Sherman Asset Management Inc. bought a new position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 19,140 shares of the information services provider's stock, valued at approximately $3,623,000. Alphabet comprises 3.3% of Sherman Asset Management Inc.'s investment portfolio, making the stock its 7th largest position.

Several other institutional investors and hedge funds have also recently made changes to their positions in GOOGL. State Street Corp lifted its stake in Alphabet by 0.3% in the third quarter. State Street Corp now owns 222,555,548 shares of the information services provider's stock worth $36,910,838,000 after acquiring an additional 743,369 shares during the period. Geode Capital Management LLC lifted its position in 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 buying an additional 2,626,431 shares during the period. JPMorgan Chase & Co. lifted its position in Alphabet by 7.7% during 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 buying an additional 4,567,275 shares during the period. Fisher Asset Management LLC lifted its position in Alphabet by 1.5% during the fourth quarter. Fisher Asset Management LLC now owns 50,615,038 shares of the information services provider's stock valued at $9,581,427,000 after buying an additional 757,138 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Alphabet by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 37,233,079 shares of the information services provider's stock valued at $6,175,106,000 after buying an additional 523,416 shares during the period. Institutional investors own 40.03% of the company's stock.

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Analyst Ratings Changes

Several brokerages have commented on GOOGL. Robert W. Baird reissued an "outperform" rating and set a $205.00 price objective on shares of Alphabet in a research report on Tuesday, December 10th. Citizens Jmp lowered Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, January 2nd. Piper Sandler lowered their price target on Alphabet from $210.00 to $208.00 and set an "overweight" rating for the company in a research report on Wednesday, February 5th. Needham & Company LLC reaffirmed a "buy" rating and issued a $225.00 price target on shares of Alphabet in a research report on Wednesday, February 5th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and issued a $210.00 price target on shares of Alphabet in a research report on Thursday, December 12th. Ten investment 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. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $210.03.

Alphabet Price Performance

Shares of GOOGL traded down $3.62 during mid-day trading on Tuesday, hitting $160.67. 41,994,003 shares of the stock were exchanged, compared to its average volume of 25,981,079. The company has a market cap of $1.96 trillion, a PE ratio of 19.96, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02. Alphabet Inc. has a 52-week low of $146.08 and a 52-week high of $207.05. The firm has a 50-day moving average of $185.05 and a two-hundred day moving average of $176.58. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84.

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 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%. On average, equities analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently disclosed 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. The ex-dividend date was Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.50%. Alphabet's dividend payout ratio (DPR) is 9.94%.

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 200 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The stock was 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. The trade was a 2.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O'toole sold 1,368 shares of the business's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total value of $262,040.40. Following the transaction, the chief accounting officer now directly owns 20,681 shares in the company, valued at approximately $3,961,445.55. This represents a 6.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 93,048 shares of company stock valued at $17,374,274 in the last ninety days. Corporate insiders own 11.55% of the company's stock.

Alphabet Company Profile

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.