Ally Financial Inc. lifted its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 97.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 41,500 shares of the information services provider's stock after acquiring an additional 20,500 shares during the quarter. Alphabet makes up 1.6% of Ally Financial Inc.'s portfolio, making the stock its 11th biggest holding. Ally Financial Inc.'s holdings in Alphabet were worth $12,990,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Alphabet by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 528,969,322 shares of the information services provider's stock worth $165,567,398,000 after purchasing an additional 12,531,695 shares in the last quarter. State Street Corp boosted its holdings in Alphabet by 1.8% in the second quarter. State Street Corp now owns 229,954,269 shares of the information services provider's stock worth $40,524,841,000 after purchasing an additional 4,008,374 shares in the last quarter. Geode Capital Management LLC lifted its position in Alphabet by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 146,193,037 shares of the information services provider's stock worth $45,625,595,000 after acquiring an additional 2,666,676 shares during the last quarter. Norges Bank acquired a new position in Alphabet during the 4th quarter worth $30,534,239,000. Finally, Capital World Investors lifted its position in Alphabet by 1.5% during the 4th quarter. Capital World Investors now owns 53,881,908 shares of the information services provider's stock worth $16,865,158,000 after acquiring an additional 774,336 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.
Insider Transactions at Alphabet
In related news, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $23.75, for a total value of $2,077,531.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O'toole sold 617 shares of the stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $289.63, for a total transaction of $178,701.71. Following the completion of the transaction, the chief accounting officer directly owned 10,093 shares of the company's stock, valued at $2,923,235.59. This trade represents a 5.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 193,016 shares of company stock valued at $17,282,549. Corporate insiders own 11.61% of the company's stock.
Alphabet Stock Performance
NASDAQ:GOOGL opened at $359.68 on Friday. Alphabet Inc. has a 12-month low of $162.00 and a 12-month high of $408.61. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $4.36 trillion, a PE ratio of 27.44, a price-to-earnings-growth ratio of 1.54 and a beta of 1.23. The firm has a 50-day moving average price of $360.45 and a 200 day moving average price of $330.26.
Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The information services provider reported $5.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.64 by $2.47. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The firm had revenue of $109.90 billion during the quarter, compared to analyst estimates of $106.98 billion. Research analysts anticipate that Alphabet Inc. will post 14.3 earnings per share for the current fiscal year.
Alphabet Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 8th will be given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.2%. This is a boost from Alphabet's previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Monday, June 8th. Alphabet's dividend payout ratio (DPR) is currently 6.71%.
Wall Street Analysts Forecast Growth
GOOGL has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reissued a "buy" rating on shares of Alphabet in a research report on Monday, May 4th. HSBC reissued a "buy" rating and set a $420.00 target price (down from $435.00) on shares of Alphabet in a research report on Tuesday, June 2nd. Needham & Company LLC reissued a "buy" rating and set a $450.00 target price on shares of Alphabet in a research report on Wednesday, June 3rd. Canaccord Genuity Group boosted their target price on shares of Alphabet from $415.00 to $450.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Finally, Wall Street Zen raised shares of Alphabet from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. Two investment analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $413.13.
Get Our Latest Stock Analysis on Alphabet
Key Alphabet News
Here are the key news stories impacting Alphabet this week:
About Alphabet
(
Free Report)
Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google's core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.
Beyond Google's consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.
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