United Services Automobile Association cut its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 131,554 shares of the information services provider's stock after selling 1,628 shares during the period. United Services Automobile Association's holdings in Alphabet were worth $24,903,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Community Bank N.A. grew its stake in shares of Alphabet by 6.4% in the fourth quarter. Community Bank N.A. now owns 46,173 shares of the information services provider's stock worth $8,741,000 after acquiring an additional 2,790 shares during the period. Absolute Capital Management LLC increased its position 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 valued at $401,000 after acquiring an additional 258 shares during the last quarter. Permanent Capital Management LP bought a new position in Alphabet in the fourth quarter valued at about $273,000. Landscape Capital Management L.L.C. boosted its position in Alphabet by 27.9% in the third quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider's stock worth $4,192,000 after purchasing an additional 5,516 shares during the last quarter. Finally, Glass Wealth Management Co LLC increased its position in shares of Alphabet by 4.5% during the 4th quarter. Glass Wealth Management Co LLC now owns 37,054 shares of the information services provider's stock valued at $7,014,000 after purchasing an additional 1,580 shares during the last quarter. Institutional investors own 40.03% of the company's stock.
Insiders Place Their Bets
In related news, CAO Amie Thuener O'toole sold 2,834 shares of Alphabet stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $194.32, for a total transaction of $550,702.88. Following the completion of the sale, the chief accounting officer now owns 17,847 shares of the company's stock, valued at $3,468,029.04. The trade was a 13.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of the stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $189.80, for a total transaction of $284,700.00. Following the completion of the transaction, the director now owns 21,824 shares in the company, valued at approximately $4,142,195.20. This trade represents a 6.43 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 87,297 shares of company stock valued at $15,936,270. 11.55% of the stock is owned by company insiders.
Alphabet Stock Down 4.0 %
Shares of NASDAQ:GOOGL traded down $6.32 during trading on Thursday, reaching $150.72. The stock had a trading volume of 46,763,615 shares, compared to its average volume of 27,471,312. The company has a market capitalization of $1.84 trillion, a P/E ratio of 18.72, a PEG ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a one year low of $147.22 and a one year high of $207.05. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm's 50-day simple moving average is $177.19 and its 200 day simple moving average is $176.95.
Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating 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%. As a group, research analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.
Alphabet Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.53%. The ex-dividend date was Monday, March 10th. Alphabet's payout ratio is 9.94%.
Analysts Set New Price Targets
A number of equities analysts recently issued reports on the stock. Needham & Company LLC reissued a "buy" rating and issued a $225.00 price objective on shares of Alphabet in a report on Wednesday, February 5th. Piper Sandler cut their price objective on Alphabet from $210.00 to $208.00 and set an "overweight" rating for the company in a research note on Wednesday, February 5th. Wells Fargo & Company dropped their price target on shares of Alphabet from $184.00 to $167.00 and set an "equal weight" rating for the company in a research report on Monday. Stifel Nicolaus increased their price objective on shares of Alphabet from $200.00 to $225.00 and gave the company a "buy" rating in a report on Monday, January 13th. Finally, Citigroup decreased their target price on Alphabet from $232.00 to $229.00 and set a "buy" rating on the stock in a research report on Wednesday, February 5th. Ten investment 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, the company presently has an average rating of "Moderate Buy" and an average price target of $209.13.
Read Our Latest Stock Report on GOOGL
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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