By otakuyassine3@gmail.com 
Truepoint Inc. raised its stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 1.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,730 shares of the information services provider’s stock after purchasing an additional 115 shares during the quarter. Truepoint Inc.’s holdings in Alphabet were worth $1,274,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in GOOGL. Pettinga Financial Advisors LLC increased its position in shares of Alphabet by 10.1% in the third quarter. Pettinga Financial Advisors LLC now owns 2,186 shares of the information services provider’s stock worth $363,000 after acquiring an additional 201 shares in the last quarter. Principal Financial Group Inc. boosted its position in Alphabet by 3.1% during the 3rd quarter. Principal Financial Group Inc. now owns 11,283,594 shares of the information services provider’s stock worth $1,871,384,000 after purchasing an additional 337,031 shares during the period. Cardano Risk Management B.V. raised its position in Alphabet by 1.1% in the third quarter. Cardano Risk Management B.V. now owns 1,511,083 shares of the information services provider’s stock valued at $250,613,000 after purchasing an additional 15,724 shares during the period. Claro Advisors LLC lifted its stake in shares of Alphabet by 16.5% during the third quarter. Claro Advisors LLC now owns 37,307 shares of the information services provider’s stock worth $6,187,000 after purchasing an additional 5,271 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its position in shares of Alphabet by 3.8% in the third quarter. Thrivent Financial for Lutherans now owns 776,885 shares of the information services provider’s stock worth $128,846,000 after buying an additional 28,612 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, CAO Amie Thuener O’toole sold 1,368 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total transaction of $262,040.40. Following the transaction, the chief accounting officer now owns 20,681 shares in the company, valued at $3,961,445.55. This trade 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 the SEC website. Also, Director Kavitark Ram Shriram sold 29,066 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $184.89, for a total value of $5,374,012.74. Following the completion of the sale, the director now owns 272,466 shares of the company’s stock, valued at $50,376,238.74. This trade represents a 9.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 87,992 shares of company stock valued at $16,093,773 over the last 90 days. 11.55% of the stock is currently owned by company insiders.
Alphabet Price Performance
NASDAQ GOOGL opened at $154.64 on Tuesday. The company has a 50-day moving average price of $178.83 and a two-hundred day moving average price of $177.10. Alphabet Inc. has a 52 week low of $147.22 and a 52 week high of $207.05. The stock has a market cap of $1.89 trillion, a price-to-earnings ratio of 19.21, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02. 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 (NASDAQ:GOOGL – Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (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%. Analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.
Alphabet Announces Dividend
The business also recently disclosed 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. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s dividend payout ratio is currently 9.94%.
Wall Street Analyst Weigh In
Several brokerages recently commented on GOOGL. Wells Fargo & Company dropped their target price on Alphabet from $184.00 to $167.00 and set an “equal weight” rating on the stock in a report on Monday. Rosenblatt Securities reissued a “neutral” rating and set a $205.00 target price on shares of Alphabet in a research report on Wednesday, March 19th. Citizens Jmp downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Wedbush upped their price objective on shares of Alphabet from $210.00 to $220.00 and gave the company an “outperform” rating in a research report on Monday, January 6th. Finally, DA Davidson lifted their target price on Alphabet from $190.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Ten 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. Based on data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $209.49.
Get Our Latest Report on Alphabet
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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