Telemark Asset Management LLC purchased a new stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 60,000 shares of the information services provider's stock, valued at approximately $11,358,000.
Several other hedge funds and other institutional investors have also made changes to their positions in GOOGL. State Street Corp lifted its stake in Alphabet by 0.3% in the 3rd quarter. State Street Corp now owns 222,555,548 shares of the information services provider's stock valued at $36,910,838,000 after buying an additional 743,369 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Alphabet by 2.0% in the third quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider's stock worth $22,154,651,000 after acquiring an additional 2,626,431 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Alphabet by 7.7% in 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 acquiring an additional 4,567,275 shares in the last quarter. Fisher Asset Management LLC boosted its stake in shares of 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 acquiring an additional 757,138 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Alphabet by 3.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 38,451,718 shares of the information services provider's stock worth $7,278,910,000 after purchasing an additional 1,218,639 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts have issued reports on GOOGL shares. Piper Sandler decreased their price target on shares of Alphabet from $210.00 to $208.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 5th. Rosenblatt Securities restated a "neutral" rating and set a $205.00 target price on shares of Alphabet in a research report on Wednesday, March 19th. Citizens Jmp cut shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, January 2nd. Citigroup reduced their price target on Alphabet from $232.00 to $229.00 and set a "buy" rating on the stock in a research note on Wednesday, February 5th. Finally, Stifel Nicolaus lifted their price objective on Alphabet from $200.00 to $225.00 and gave the company a "buy" rating in a research report on Monday, January 13th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, Alphabet currently has a consensus rating of "Moderate Buy" and a consensus price target of $210.59.
Read Our Latest Stock Report on Alphabet
Insider Transactions at Alphabet
In other Alphabet news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total value of $33,106.00. Following the completion of the transaction, the director now owns 7,813 shares of the company's stock, valued at $1,293,285.89. The trade was a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider John Kent Walker sold 16,820 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the sale, the insider now directly owns 43,981 shares in the company, valued at $8,471,620.22. This trade represents a 27.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 93,048 shares of company stock worth $17,374,274. 11.55% of the stock is currently owned by corporate insiders.
Alphabet Stock Down 2.6 %
GOOGL traded down $4.42 during trading on Wednesday, hitting $166.14. The company had a trading volume of 13,643,897 shares, compared to its average volume of 30,132,676. The company has a market cap of $2.03 trillion, a PE ratio of 20.64, a P/E/G ratio of 1.34 and a beta of 1.02. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. Alphabet Inc. has a 1-year low of $147.21 and a 1-year high of $207.05. The business has a 50-day moving average of $181.72 and a 200-day moving average of $176.86.
Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. As a group, analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.
Alphabet Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. Alphabet's payout ratio is 9.94%.
Alphabet Company 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.
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