By otakuyassine3@gmail.com 
Optimum Investment Advisors grew its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 1.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,745 shares of the information services provider’s stock after acquiring an additional 100 shares during the quarter. Alphabet comprises 0.7% of Optimum Investment Advisors’ holdings, making the stock its 21st largest holding. Optimum Investment Advisors’ holdings in Alphabet were worth $1,655,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Absolute Capital Management LLC lifted its position in shares of Alphabet by 14.0% during the 4th quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider’s stock worth $401,000 after buying an additional 258 shares in the last quarter. Permanent Capital Management LP purchased a new position in shares of Alphabet during the 4th quarter valued at $273,000. Landscape Capital Management L.L.C. grew its stake in shares of Alphabet by 27.9% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider’s stock worth $4,192,000 after acquiring an additional 5,516 shares during the period. Glass Wealth Management Co LLC increased its holdings in Alphabet by 4.5% in the 4th quarter. Glass Wealth Management Co LLC now owns 37,054 shares of the information services provider’s stock worth $7,014,000 after acquiring an additional 1,580 shares during the last quarter. Finally, Olistico Wealth LLC increased its stake in shares of Alphabet by 9.1% in the fourth quarter. Olistico Wealth LLC now owns 8,981 shares of the information services provider’s stock worth $1,700,000 after purchasing an additional 746 shares in the last quarter. 40.03% of the stock is owned by institutional investors.
Insider Activity
In related news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the completion of the sale, the director now directly owns 7,813 shares in the company, valued at approximately $1,293,285.89. The trade was a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider John Kent Walker sold 17,690 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $185.51, for a total transaction of $3,281,671.90. Following the completion of the transaction, the insider now owns 43,111 shares in the company, valued at $7,997,521.61. The trade was a 29.09 % 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 over the last three months. Insiders own 11.55% of the company’s stock.
Alphabet Stock Performance
GOOGL stock opened at $157.04 on Thursday. The stock’s 50 day simple moving average is $177.19 and its 200 day simple moving average is $176.95. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 12-month low of $147.22 and a 12-month high of $207.05. The stock has a market capitalization of $1.91 trillion, a PE ratio of 19.51, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03.
Alphabet (NASDAQ:GOOGL – Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating 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, research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
Alphabet Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were paid a $0.20 dividend. The ex-dividend date was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.51%. Alphabet’s dividend payout ratio is presently 9.94%.
Analyst Ratings Changes
Several brokerages have commented on GOOGL. Citigroup cut their target price on Alphabet from $232.00 to $229.00 and set a “buy” rating for the company in a research note on Wednesday, February 5th. Rosenblatt Securities reiterated a “neutral” rating and issued a $205.00 target price on shares of Alphabet in a research report on Wednesday, March 19th. KeyCorp decreased their target price on shares of Alphabet from $220.00 to $202.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 18th. Wedbush raised their price target on Alphabet from $210.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, January 6th. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $205.00 price objective on shares of Alphabet in a research report on Tuesday, December 10th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and five have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $209.49.
Check Out Our Latest Research Report on Alphabet
Alphabet Company 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.
See Also
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