Umpqua Bank raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 7.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 46,944 shares of the information services provider's stock after buying an additional 3,190 shares during the quarter. Alphabet comprises 3.1% of Umpqua Bank's portfolio, making the stock its 8th largest holding. Umpqua Bank's holdings in Alphabet were worth $8,903,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of GOOGL. Proficio Capital Partners LLC raised its position in shares of Alphabet by 20,990.0% in the fourth quarter. Proficio Capital Partners LLC now owns 6,186,748 shares of the information services provider's stock worth $1,171,151,000 after buying an additional 6,157,413 shares in the last quarter. Amundi increased its stake in Alphabet by 18.7% in the 4th quarter. Amundi now owns 29,866,698 shares of the information services provider's stock worth $5,792,317,000 after acquiring an additional 4,694,621 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Alphabet by 7.7% in the 3rd 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. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Alphabet during the 3rd quarter valued at about $513,024,000. Finally, Geode Capital Management LLC grew its holdings in shares of 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 worth $22,154,651,000 after purchasing an additional 2,626,431 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.
Insider Activity at Alphabet
In other news, CAO Amie Thuener O'toole sold 1,368 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $191.55, for a total value of $262,040.40. Following the sale, the chief accounting officer now directly owns 20,681 shares of the company's stock, valued at approximately $3,961,445.55. This represents a 6.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John Kent Walker sold 11,764 shares of Alphabet stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $166.84, for a total value of $1,962,705.76. Following the completion of the transaction, the insider now directly owns 49,037 shares of the company's stock, valued at approximately $8,181,333.08. This represents a 19.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 88,665 shares of company stock valued at $16,198,310 in the last three months. Company insiders own 11.55% of the company's stock.
Alphabet Stock Down 0.0 %
Shares of NASDAQ:GOOGL traded down $0.03 during trading on Wednesday, hitting $157.04. The stock had a trading volume of 24,682,619 shares, compared to its average volume of 27,385,075. The company has a market capitalization of $1.91 trillion, a PE ratio of 19.51, a PEG ratio of 1.34 and a beta of 1.03. 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's fifty day moving average is $178.01 and its 200 day moving average is $177.09. Alphabet Inc. has a 12 month low of $147.22 and a 12 month high of $207.05.
Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share 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%. Analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.
Alphabet Dividend Announcement
The firm also recently declared 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 dividend on an annualized basis and a yield of 0.51%. Alphabet's dividend payout ratio (DPR) is currently 9.94%.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on the stock. Jefferies Financial Group lowered their target price on shares of Alphabet from $235.00 to $200.00 and set a "buy" rating on the stock in a research note on Monday. JMP Securities reaffirmed a "market perform" rating on shares of Alphabet in a report on Wednesday, February 5th. DA Davidson increased their target price on Alphabet from $190.00 to $200.00 and gave the company a "neutral" rating in a research note on Friday, January 24th. Needham & Company LLC restated a "buy" rating and set a $225.00 price target on shares of Alphabet in a research report on Wednesday, February 5th. Finally, Robert W. Baird reiterated an "outperform" rating and issued a $205.00 price objective on shares of Alphabet in a report on Tuesday, December 10th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and five have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $209.49.
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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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