By otakuyassine3@gmail.com 
Holderness Investments Co. lifted its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 1.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 42,514 shares of the information services provider’s stock after acquiring an additional 803 shares during the period. Alphabet makes up approximately 1.8% of Holderness Investments Co.’s investment portfolio, making the stock its 9th largest position. Holderness Investments Co.’s holdings in Alphabet were worth $8,048,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. Compass Planning Associates Inc acquired a new position in shares of Alphabet in the fourth quarter worth $30,000. LMR Partners LLP purchased a new stake in Alphabet during the 3rd quarter worth about $32,000. E Fund Management Hong Kong Co. Ltd. raised its stake in Alphabet by 518.8% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock valued at $37,000 after purchasing an additional 166 shares during the last quarter. Fiduciary Advisors Inc. purchased a new position in Alphabet in the 4th quarter valued at about $39,000. Finally, PayPay Securities Corp boosted its stake in shares of Alphabet by 36.1% during the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after purchasing an additional 65 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
GOOGL has been the subject of a number of analyst reports. Bank of America reissued a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a research report on Monday, December 23rd. Needham & Company LLC reissued a “buy” rating and set a $225.00 price target on shares of Alphabet in a research note on Wednesday, February 5th. Citizens Jmp downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Roth Mkm reiterated a “buy” rating and set a $220.00 target price on shares of Alphabet in a research report on Wednesday, March 19th. Finally, Jefferies Financial Group lowered their price target on Alphabet from $235.00 to $200.00 and set a “buy” rating for the company in a report on Monday. Ten equities research 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $209.49.
Check Out Our Latest Analysis on GOOGL
Alphabet Stock Performance
Shares of GOOGL stock opened at $154.64 on Tuesday. The stock has a market capitalization of $1.89 trillion, a price-to-earnings ratio of 19.21, a PEG ratio of 1.34 and a beta of 1.02. Alphabet Inc. has a one year low of $147.22 and a one year high of $207.05. The company’s 50-day simple moving average is $178.83 and its 200-day simple moving average is $177.10. 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 released its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Equities analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
Alphabet Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.52%. Alphabet’s payout ratio is 9.94%.
Insiders Place Their Bets
In related news, CAO Amie Thuener O’toole sold 1,368 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total transaction of $262,040.40. Following the sale, the chief accounting officer now owns 20,681 shares in the company, valued at $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 Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kavitark Ram Shriram sold 29,066 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $184.89, for a total transaction of $5,374,012.74. Following the completion of the transaction, the director now directly owns 272,466 shares in the company, valued at $50,376,238.74. This represents a 9.64 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 87,992 shares of company stock valued at $16,093,773. Company insiders own 11.55% of the company’s stock.
Alphabet 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.
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