MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 4.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,058,725 shares of the information services provider's stock after purchasing an additional 135,282 shares during the quarter. Alphabet makes up approximately 1.2% of MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings, making the stock its 10th biggest holding. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Alphabet were worth $579,709,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in GOOGL. MJP Associates Inc. ADV boosted its stake in shares of Alphabet by 20.3% in the 4th quarter. MJP Associates Inc. ADV now owns 29,591 shares of the information services provider's stock valued at $5,602,000 after purchasing an additional 4,987 shares during the last quarter. Leigh Baldwin & CO. LLC bought a new position in Alphabet during the 4th quarter worth approximately $166,633,000. Letko Brosseau & Associates Inc. bought a new position in Alphabet during the 4th quarter worth approximately $207,000. Light Street Capital Management LLC bought a new position in Alphabet during the 4th quarter worth approximately $11,414,000. Finally, Lagoda Investment Management L.P. boosted its stake in Alphabet by 12.5% during the 4th quarter. Lagoda Investment Management L.P. now owns 1,480 shares of the information services provider's stock worth $280,000 after acquiring an additional 165 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.
Analyst Ratings Changes
Several research analysts recently weighed in on GOOGL shares. Westpark Capital reissued a "buy" rating and set a $210.00 price objective on shares of Alphabet in a research note on Thursday. Oppenheimer lifted their price objective on shares of Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a research note on Friday, April 25th. Citigroup raised their target price on shares of Alphabet from $195.00 to $200.00 and gave the stock a "buy" rating in a report on Friday, April 25th. Tigress Financial lifted their price objective on shares of Alphabet from $220.00 to $240.00 and gave the company a "strong-buy" rating in a report on Wednesday, April 30th. Finally, Piper Sandler lifted their price objective on shares of Alphabet from $185.00 to $195.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Ten analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $199.75.
Check Out Our Latest Report on GOOGL
Insider Buying and Selling
In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the sale, the chief executive officer now directly owns 2,717,696 shares of the company's stock, valued at approximately $430,917,877.76. This represents a 1.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O'toole sold 673 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total value of $104,537.09. Following the completion of the sale, the chief accounting officer now directly owns 15,303 shares of the company's stock, valued at $2,377,014.99. The trade was a 4.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 179,324 shares of company stock worth $30,153,353 in the last ninety days. Corporate insiders own 11.64% of the company's stock.
Alphabet Price Performance
Alphabet stock opened at $152.75 on Monday. The stock has a market capitalization of $1.85 trillion, a price-to-earnings ratio of 18.98, a PEG ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. The stock's 50 day moving average price is $158.93 and its two-hundred day moving average price is $175.27. 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 (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (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 analysts' expectations of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. During the same period in the prior year, the business earned $1.89 EPS. On average, equities analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.
Alphabet Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be issued a $0.21 dividend. This is a boost from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend is Monday, June 9th. Alphabet's dividend payout ratio (DPR) is currently 9.36%.
Alphabet Company Profile
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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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