Altarock Partners LP raised its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 4.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,480,801 shares of the information services provider's stock after buying an additional 146,896 shares during the period. Alphabet comprises 13.3% of Altarock Partners LP's investment portfolio, making the stock its 4th biggest position. Altarock Partners LP's holdings in Alphabet were worth $658,916,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. FMR LLC grew its stake in shares of Alphabet by 9.8% in the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock valued at $47,025,322,000 after buying an additional 22,100,902 shares during the period. Norges Bank acquired a new position in Alphabet in the fourth quarter valued at approximately $24,383,677,000. Price T Rowe Associates Inc. MD grew its position in Alphabet by 8.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 98,638,127 shares of the information services provider's stock worth $18,672,198,000 after acquiring an additional 7,574,417 shares during the period. Capital Research Global Investors increased its stake in Alphabet by 16.2% during the fourth quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock worth $13,635,878,000 after acquiring an additional 10,037,685 shares during the last quarter. Finally, Northern Trust Corp raised its position in Alphabet by 17.0% in the fourth quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock valued at $13,178,470,000 after purchasing an additional 10,135,430 shares during the period. Institutional investors and hedge funds own 40.03% of the company's stock.
Alphabet Trading Up 1.7 %
GOOGL traded up $2.73 on Friday, reaching $164.03. 25,689,744 shares of the company's stock were exchanged, compared to its average volume of 28,219,284. The company has a market cap of $2.00 trillion, a price-to-earnings ratio of 20.38, a PEG ratio of 1.34 and a beta of 1.03. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The company's 50 day moving average is $160.42 and its 200-day moving average is $175.35.
Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. The firm had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. During the same quarter in the previous year, the business posted $1.89 EPS. Equities analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.
Alphabet Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date is Monday, June 9th. This is an increase from Alphabet's previous quarterly dividend of $0.20. Alphabet's payout ratio is currently 9.36%.
Insiders Place Their Bets
In other news, CAO Amie Thuener O'toole sold 1,340 shares of Alphabet stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total transaction of $270,787.20. Following the transaction, the chief accounting officer now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the completion of the transaction, the chief executive officer now owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. This trade represents a 1.18 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 148,164 shares of company stock valued at $25,357,390. Company insiders own 11.55% of the company's stock.
Analyst Ratings Changes
A number of equities analysts have recently weighed in on the company. Rosenblatt Securities lowered their price target on Alphabet from $205.00 to $189.00 and set a "neutral" rating for the company in a report on Friday, April 25th. BMO Capital Markets reaffirmed an "outperform" rating and set a $200.00 target price (down previously from $230.00) on shares of Alphabet in a research note on Thursday, April 17th. Citigroup boosted their target price on Alphabet from $195.00 to $200.00 and gave the company a "buy" rating in a research report on Friday, April 25th. JMP Securities reissued a "market perform" rating on shares of Alphabet in a research report on Thursday, April 10th. Finally, DA Davidson dropped their price target on shares of Alphabet from $200.00 to $160.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Ten analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and five have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $199.46.
Read Our Latest Report on Alphabet
Alphabet Profile
(
Free Report)
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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