Bolthouse Investments LLC Makes New $2.04 Million Investment in Alphabet Inc. (NASDAQ:GOOGL)

Bolthouse Investments LLC bought a new stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 10,748 shares of the information services provider's stock, valued at approximately $2,035,000. Alphabet comprises 1.9% of Bolthouse Investments LLC's holdings, making the stock its 11th biggest holding.

Several other hedge funds and other institutional investors also recently modified their holdings of GOOGL. FMR LLC grew its position in 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 in the last quarter. Norges Bank acquired a new position in shares of Alphabet during the fourth quarter valued at approximately $24,383,677,000. Price T Rowe Associates Inc. MD lifted 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 purchasing an additional 7,574,417 shares during the period. Capital Research Global Investors boosted its stake in Alphabet by 16.2% during the 4th quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock valued at $13,635,878,000 after purchasing an additional 10,037,685 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Alphabet by 15.9% during the 4th quarter. Wellington Management Group LLP now owns 66,050,135 shares of the information services provider's stock valued at $12,503,291,000 after purchasing an additional 9,042,271 shares during the period. Institutional investors and hedge funds own 40.03% of the company's stock.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of several research reports. Cantor Fitzgerald decreased their target price on Alphabet from $200.00 to $159.00 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. Roth Mkm reaffirmed a "buy" rating and issued a $220.00 price objective on shares of Alphabet in a research note on Wednesday, March 19th. Oppenheimer increased their target price on shares of Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a research note on Friday, April 25th. Needham & Company LLC restated a "buy" rating and issued a $178.00 price target on shares of Alphabet in a research report on Friday, April 25th. Finally, KeyCorp raised their price objective on Alphabet from $185.00 to $195.00 and gave the stock an "overweight" rating in a research note on Friday, April 25th. Ten analysts have rated the stock with a hold rating, twenty-five have given a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $198.89.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O'toole sold 1,340 shares of Alphabet stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 17,848 shares of the company's stock, valued at approximately $3,606,723.84. The trade was a 6.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Kent Walker sold 17,690 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $185.51, for a total value of $3,281,671.90. Following the completion of the transaction, the insider now directly owns 43,111 shares of the company's stock, valued at approximately $7,997,521.61. The trade was a 29.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 148,163 shares of company stock worth $25,361,647 over the last three months. Company insiders own 11.55% of the company's stock.

Alphabet Stock Performance

NASDAQ:GOOGL traded down $3.14 during midday trading on Wednesday, reaching $157.02. The stock had a trading volume of 13,184,106 shares, compared to its average volume of 28,163,836. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The firm's fifty day simple moving average is $161.20 and its 200-day simple moving average is $175.49. The stock has a market capitalization of $1.91 trillion, a P/E ratio of 19.51, a PEG ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly 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 company had revenue of $76.49 billion during the quarter, compared to analyst estimates 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 previous year, the company earned $1.89 earnings per share. On average, equities research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend is Monday, June 9th. This is a boost from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio (DPR) is presently 9.36%.

Alphabet Company 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.