By otakuyassine3@gmail.com 
Templeton & Phillips Capital Management LLC decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 1.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,763 shares of the information services provider’s stock after selling 172 shares during the period. Alphabet comprises about 1.6% of Templeton & Phillips Capital Management LLC’s investment portfolio, making the stock its 13th biggest holding. Templeton & Phillips Capital Management LLC’s holdings in Alphabet were worth $2,037,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the company. State Street Corp raised its holdings in shares of Alphabet by 0.3% during the third quarter. State Street Corp now owns 222,555,548 shares of the information services provider’s stock worth $36,910,838,000 after purchasing an additional 743,369 shares during the period. Geode Capital Management LLC grew its stake in Alphabet by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock worth $22,154,651,000 after buying an additional 2,626,431 shares during the last quarter. JPMorgan Chase & Co. increased 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 worth $10,559,240,000 after acquiring an additional 4,567,275 shares during the period. Fisher Asset Management LLC lifted its position in Alphabet by 1.5% in the 4th 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 purchasing an additional 757,138 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Alphabet by 3.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 38,451,718 shares of the information services provider’s stock valued at $7,278,910,000 after purchasing an additional 1,218,639 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Alphabet
In other news, Director Kavitark Ram Shriram sold 29,066 shares of the 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 transaction, the director now owns 272,466 shares of the company’s stock, valued at approximately $50,376,238.74. This represents a 9.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ruth Porat sold 17,690 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $183.48, for a total value of $3,245,761.20. Following the completion of the transaction, the insider now directly owns 1,449,286 shares in the company, valued at $265,914,995.28. The trade was a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 87,297 shares of company stock valued at $15,936,270 in the last three months. Corporate insiders own 11.55% of the company’s stock.
Wall Street Analyst Weigh In
GOOGL has been the topic of a number of recent analyst reports. Morgan Stanley cut their price target on Alphabet from $215.00 to $210.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $225.00 target price on shares of Alphabet in a research note on Wednesday, February 5th. Piper Sandler decreased their price target on Alphabet from $210.00 to $208.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Bank of America restated a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research note on Monday, December 23rd. Finally, Westpark Capital upgraded shares of Alphabet to a “strong-buy” rating in a research report on Tuesday. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $209.13.
Check Out Our Latest Analysis on GOOGL
Alphabet Price Performance
Shares of GOOGL opened at $150.72 on Friday. The business’s 50-day moving average is $176.24 and its 200-day moving average is $176.77. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The company has a market capitalization of $1.84 trillion, a price-to-earnings ratio of 18.72, a P/E/G ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a fifty-two week low of $147.22 and a fifty-two week high of $207.05.
Alphabet (NASDAQ:GOOGL – Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share 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%. Equities 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. Shareholders of record on Monday, March 10th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s payout ratio is currently 9.94%.
About Alphabet
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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