By otakuyassine3@gmail.com 
Umpqua Bank raised its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 7.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,944 shares of the information services provider’s stock after purchasing an additional 3,190 shares during the quarter. Alphabet accounts for about 3.1% of Umpqua Bank’s holdings, making the stock its 8th biggest holding. Umpqua Bank’s holdings in Alphabet were worth $8,903,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the company. Sfmg LLC grew its position in shares of Alphabet by 12.4% in the 4th quarter. Sfmg LLC now owns 21,601 shares of the information services provider’s stock valued at $4,089,000 after buying an additional 2,377 shares during the last quarter. Intellus Advisors LLC acquired a new position in shares of Alphabet in the fourth quarter worth approximately $16,146,000. Forefront Wealth Management Inc. bought a new stake in Alphabet in the fourth quarter valued at approximately $4,582,000. Sei Investments Co. increased its position in Alphabet by 5.0% during the 4th quarter. Sei Investments Co. now owns 4,958,164 shares of the information services provider’s stock valued at $938,584,000 after purchasing an additional 238,216 shares during the period. Finally, Truffle Hound Capital LLC bought a new position in Alphabet during the 4th quarter worth approximately $6,058,000. 40.03% of the stock is owned by institutional investors and hedge funds.
Alphabet Price Performance
Alphabet stock opened at $157.07 on Wednesday. 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 business’s 50 day simple moving average is $178.01 and its 200 day simple moving average is $177.09. Alphabet Inc. has a 12 month low of $147.22 and a 12 month high of $207.05. The company has a market cap of $1.91 trillion, a price-to-earnings ratio of 19.51, a PEG ratio of 1.34 and a beta of 1.02.
Alphabet (NASDAQ:GOOGL – Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Sell-side analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.
Alphabet Announces Dividend
The firm also recently declared 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 0.51%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s payout ratio is currently 9.94%.
Insider Buying and Selling
In other news, insider John Kent Walker sold 17,690 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 43,111 shares in the company, valued at $7,997,521.61. This represents a 29.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 673 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total transaction of $104,537.09. Following the completion of the transaction, the chief accounting officer now owns 15,303 shares of the company’s stock, valued at $2,377,014.99. This trade represents a 4.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 88,665 shares of company stock valued at $16,198,310. Company insiders own 11.55% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on the stock. Wedbush increased their price objective on shares of Alphabet from $210.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, January 6th. Piper Sandler dropped their price objective on Alphabet from $210.00 to $208.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $200.00 target price on shares of Alphabet in a research note on Wednesday, March 19th. Citizens Jmp lowered Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $225.00 price objective on shares of Alphabet in a research report on Wednesday, February 5th. Ten research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $209.49.
Check Out Our Latest Stock Report on Alphabet
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.
Further Reading
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