Private Wealth Partners LLC lowered its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 4.3% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 339,175 shares of the information services provider's stock after selling 15,126 shares during the quarter. Alphabet comprises 4.3% of Private Wealth Partners LLC's investment portfolio, making the stock its 6th biggest holding. Private Wealth Partners LLC's holdings in Alphabet were worth $52,450,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in GOOGL. Norges Bank purchased a new position in shares of Alphabet in the 4th quarter valued at $24,383,677,000. FMR LLC boosted its stake in Alphabet by 9.8% in the fourth quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock valued at $47,025,322,000 after acquiring an additional 22,100,902 shares in the last quarter. GAMMA Investing LLC boosted its stake in Alphabet by 16,993.2% in the first quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider's stock valued at $2,483,898,000 after acquiring an additional 15,968,487 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Alphabet by 17.0% during the fourth quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock worth $13,178,470,000 after purchasing an additional 10,135,430 shares during the last quarter. Finally, Capital Research Global Investors increased its position in shares of 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 purchasing an additional 10,037,685 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on the company. Roth Mkm reissued a "buy" rating and issued a $220.00 target price on shares of Alphabet in a report on Wednesday, March 19th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $171.00 price objective on shares of Alphabet in a research note on Wednesday. Rosenblatt Securities reissued a "neutral" rating and issued a $189.00 price objective on shares of Alphabet in a report on Wednesday, May 21st. Tigress Financial raised their target price on shares of Alphabet from $220.00 to $240.00 and gave the stock a "strong-buy" rating in a research report on Wednesday, April 30th. Finally, Wedbush set a $190.00 price target on shares of Alphabet and gave the company an "outperform" rating in a research report on Tuesday, April 15th. Ten research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $200.17.
View Our Latest Stock Report on GOOGL
Insider Transactions at Alphabet
In related news, CAO Amie Thuener O'toole sold 673 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total value of $104,537.09. Following the sale, the chief accounting officer now directly owns 15,303 shares of the company's stock, valued at approximately $2,377,014.99. This represents a 4.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Kent Walker sold 11,764 shares of the firm's stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the transaction, the insider now owns 49,037 shares of the company's stock, valued at $8,181,333.08. This trade represents a 19.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 228,070 shares of company stock valued at $37,745,632 in the last quarter. 11.64% of the stock is currently owned by corporate insiders.
Alphabet Price Performance
Shares of NASDAQ GOOGL traded up $3.91 during trading on Wednesday, hitting $170.68. 35,420,806 shares of the company were exchanged, compared to its average volume of 30,833,475. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05. The company has a market cap of $2.07 trillion, a price-to-earnings ratio of 19.03, a PEG ratio of 1.06 and a beta of 1.01. The firm's fifty day moving average price is $165.45 and its 200 day moving average price is $174.58.
Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. The firm had revenue of $76.49 billion during the quarter, compared to analysts' expectations of $89.30 billion. During the same quarter last year, the business earned $1.89 earnings per share. On average, sell-side analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
Alphabet Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 9th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.49%. This is an increase from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date was Monday, June 9th. Alphabet's dividend payout ratio (DPR) is presently 9.36%.
About Alphabet
(
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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