AlTi Global Inc. Raises Holdings in Alphabet Inc. (NASDAQ:GOOGL)

AlTi Global Inc. raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 267,246 shares of the information services provider's stock after purchasing an additional 8,996 shares during the quarter. Alphabet comprises 1.2% of AlTi Global Inc.'s portfolio, making the stock its 16th largest holding. AlTi Global Inc.'s holdings in Alphabet were worth $50,814,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Compass Planning Associates Inc acquired a new stake in Alphabet in the 4th quarter worth approximately $30,000. E Fund Management Hong Kong Co. Ltd. boosted its stake in Alphabet by 518.8% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider's stock valued at $37,000 after purchasing an additional 166 shares during the period. Fiduciary Advisors Inc. bought a new position in Alphabet in the 4th quarter worth approximately $39,000. PayPay Securities Corp boosted its position in shares of Alphabet by 36.1% in the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider's stock valued at $46,000 after acquiring an additional 65 shares during the period. Finally, Navigoe LLC acquired a new stake in shares of Alphabet in the fourth quarter worth $51,000. 40.03% of the stock is owned by institutional investors.

Alphabet Stock Performance

NASDAQ GOOGL traded up $0.18 during trading hours on Monday, reaching $164.21. The stock had a trading volume of 21,320,782 shares, compared to its average volume of 28,166,316. 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 52-week low of $140.53 and a 52-week high of $207.05. The stock has a fifty day moving average of $160.19 and a 200 day moving average of $175.50. The stock has a market cap of $1.99 trillion, a P/E ratio of 20.40, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results 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 the consensus estimate of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. During the same quarter in the prior year, the business earned $1.89 earnings per share. Sell-side analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Increases Dividend

The company 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. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.51%. This is a positive change from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio (DPR) is presently 9.36%.

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of recent research reports. Piper Sandler upped their target price on Alphabet from $185.00 to $195.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Wells Fargo & Company raised their price target on Alphabet from $167.00 to $175.00 and gave the company an "equal weight" rating in a report on Friday, April 25th. Wedbush set a $190.00 price target on Alphabet and gave the company an "outperform" rating in a report on Tuesday, April 15th. JMP Securities reissued a "market perform" rating on shares of Alphabet in a report on Thursday, April 10th. Finally, Cantor Fitzgerald reduced their price objective on Alphabet from $200.00 to $159.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. Ten equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and five have given a strong buy rating to the stock. According to MarketBeat.com, Alphabet has a consensus rating of "Moderate Buy" and an average target price of $199.46.

Insider Transactions at Alphabet

In other Alphabet news, Director John L. Hennessy sold 200 shares of the 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 sale, the director now directly owns 7,813 shares in the company, valued at $1,293,285.89. This represents a 2.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O'toole sold 673 shares of the 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 sale, the chief accounting officer now directly owns 15,303 shares in the company, valued at approximately $2,377,014.99. This represents 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 146,824 shares of company stock worth $25,086,603 in the last ninety days. Insiders own 11.55% of the company's stock.

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.