By otakuyassine3@gmail.com 
Lowe Brockenbrough & Co. Inc. trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 1.4% in the fourth quarter, Holdings Channel reports. The firm owned 81,127 shares of the information services provider’s stock after selling 1,153 shares during the period. Alphabet makes up 1.0% of Lowe Brockenbrough & Co. Inc.’s portfolio, making the stock its 25th biggest position. Lowe Brockenbrough & Co. Inc.’s holdings in Alphabet were worth $15,357,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in the stock. Proficio Capital Partners LLC boosted its position in Alphabet by 20,990.0% in the 4th quarter. Proficio Capital Partners LLC now owns 6,186,748 shares of the information services provider’s stock valued at $1,171,151,000 after buying an additional 6,157,413 shares during the last quarter. Amundi lifted its stake in shares of Alphabet by 18.7% in the fourth 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 in the last quarter. JPMorgan Chase & Co. boosted its holdings in 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 purchasing an additional 4,567,275 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Alphabet during the 3rd quarter valued at approximately $513,024,000. Finally, Geode Capital Management LLC increased its holdings 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 purchasing an additional 2,626,431 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities analysts have recently commented on GOOGL shares. DZ Bank cut Alphabet from a “buy” rating to a “hold” rating and set a $198.00 target price for the company. in a research note on Thursday, February 6th. Wells Fargo & Company decreased their price objective on shares of Alphabet from $184.00 to $167.00 and set an “equal weight” rating for the company in a report on Monday. Jefferies Financial Group dropped their target price on shares of Alphabet from $235.00 to $200.00 and set a “buy” rating for the company in a research report on Monday. Morgan Stanley reduced their price target on shares of Alphabet from $215.00 to $210.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Finally, DA Davidson boosted their price objective on Alphabet from $190.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $209.49.
Read Our Latest Stock Report on GOOGL
Alphabet Trading Up 0.2 %
Shares of NASDAQ:GOOGL opened at $154.64 on Tuesday. The company has a 50 day moving average of $178.83 and a 200-day moving average of $177.10. 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 has a market cap of $1.89 trillion, a P/E ratio of 19.21, a P/E/G ratio of 1.34 and a beta of 1.02. Alphabet Inc. has a twelve month low of $147.22 and a twelve month high of $207.05.
Alphabet (NASDAQ:GOOGL – Get Free Report) last released its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share 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%. As a group, analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
Alphabet Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors 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 dividend payout ratio is currently 9.94%.
Insider Buying and Selling
In other news, CAO Amie Thuener O’toole sold 1,340 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $202.08, for a total transaction of $270,787.20. Following the completion of the transaction, the chief accounting officer now owns 17,848 shares in the company, valued at approximately $3,606,723.84. This trade represents a 6.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider John Kent Walker sold 11,764 shares of the business’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the completion of the sale, the insider now owns 49,037 shares in the company, valued at $8,181,333.08. The trade was a 19.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 87,992 shares of company stock valued at $16,093,773 over the last three months. Company insiders own 11.55% of the company’s stock.
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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