Sierra Summit Advisors LLC raised its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 15.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 101,923 shares of the information services provider's stock after purchasing an additional 13,331 shares during the quarter. Alphabet comprises 3.9% of Sierra Summit Advisors LLC's investment portfolio, making the stock its 3rd biggest position. Sierra Summit Advisors LLC's holdings in Alphabet were worth $19,294,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Community Bank N.A. raised its stake in shares of Alphabet by 6.4% in the 4th quarter. Community Bank N.A. now owns 46,173 shares of the information services provider's stock valued at $8,741,000 after acquiring an additional 2,790 shares during the period. Premier Fund Managers Ltd raised its position in Alphabet by 30.0% in the fourth quarter. Premier Fund Managers Ltd now owns 61,792 shares of the information services provider's stock valued at $11,816,000 after purchasing an additional 14,262 shares during the period. Absolute Capital Management LLC lifted its stake in Alphabet by 14.0% during the fourth quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider's stock worth $401,000 after purchasing an additional 258 shares in the last quarter. Permanent Capital Management LP purchased a new position in shares of Alphabet during the fourth quarter worth $273,000. Finally, Glass Wealth Management Co LLC grew its stake in shares of Alphabet by 4.5% in the fourth quarter. Glass Wealth Management Co LLC now owns 37,054 shares of the information services provider's stock valued at $7,014,000 after buying an additional 1,580 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.
Alphabet Stock Performance
NASDAQ:GOOGL traded down $4.39 during mid-day trading on Wednesday, reaching $151.92. The stock had a trading volume of 16,656,176 shares, compared to its average volume of 28,183,593. 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 business has a 50 day simple moving average of $167.17 and a 200 day simple moving average of $176.14. The firm has a market capitalization of $1.85 trillion, a price-to-earnings ratio of 18.87, a PEG ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05.
Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS 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%. On average, analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
Alphabet Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors 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 annualized dividend and a dividend yield of 0.53%. Alphabet's dividend payout ratio is currently 9.94%.
Insider Activity at Alphabet
In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, April 2nd. The shares were 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 directly owns 2,717,696 shares of the company's stock, valued at approximately $430,917,877.76. The trade was a 1.18 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 200 shares of the firm's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $161.90, for a total value of $32,380.00. Following the sale, the director now owns 7,613 shares in the company, valued at $1,232,544.70. This trade represents a 2.56 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 115,663 shares of company stock valued at $20,286,447. 11.55% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on GOOGL shares. KeyCorp lowered their target price on Alphabet from $220.00 to $202.00 and set an "overweight" rating for the company in a report on Tuesday, March 18th. JPMorgan Chase & Co. lowered their price objective on shares of Alphabet from $220.00 to $180.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. DA Davidson cut their target price on shares of Alphabet from $200.00 to $160.00 and set a "neutral" rating on the stock in a research note on Monday. Jefferies Financial Group decreased their price target on shares of Alphabet from $235.00 to $200.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Finally, Cantor Fitzgerald cut their price objective on Alphabet from $200.00 to $159.00 and set a "neutral" rating on the stock in a research report on Wednesday. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and five have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Alphabet has an average rating of "Moderate Buy" and a consensus price target of $202.46.
View Our Latest Stock Analysis on Alphabet
Alphabet Profile
(
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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