Temasek Holdings Private Ltd cut its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 20.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,763,550 shares of the information services provider's stock after selling 951,834 shares during the period. Alphabet comprises about 2.8% of Temasek Holdings Private Ltd's holdings, making the stock its 12th largest position. Temasek Holdings Private Ltd's holdings in Alphabet were worth $712,440,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Texas Bank & Trust Co purchased a new stake in shares of Alphabet during the 4th quarter worth approximately $6,692,000. Trace Wealth Advisors LLC acquired a new stake in Alphabet during the 4th quarter worth $1,654,000. Triavera Capital LLC purchased a new stake in Alphabet in the fourth quarter valued at $12,871,000. State of Wyoming boosted its stake in Alphabet by 89.4% in the fourth quarter. State of Wyoming now owns 34,589 shares of the information services provider's stock valued at $6,548,000 after acquiring an additional 16,323 shares in the last quarter. Finally, Stonebrook Private Inc. boosted its stake in Alphabet by 3.6% in the fourth quarter. Stonebrook Private Inc. now owns 18,329 shares of the information services provider's stock valued at $3,470,000 after acquiring an additional 634 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Alphabet news, CAO Amie Thuener O'toole sold 2,824 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $187.43, for a total value of $529,302.32. Following the sale, the chief accounting officer now owns 15,024 shares of the company's stock, valued at $2,815,948.32. This represents a 15.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $155.90, for a total transaction of $5,066,750.00. Following the transaction, the chief executive officer now directly owns 2,652,696 shares of the company's stock, valued at approximately $413,555,306.40. This trade represents a 1.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 179,324 shares of company stock worth $30,153,353. 11.64% of the stock is owned by corporate insiders.
Alphabet Stock Performance
Shares of GOOGL opened at $166.19 on Friday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. The company has a 50-day simple moving average of $158.21 and a 200-day simple moving average of $175.01. The company has a market capitalization of $2.02 trillion, a PE ratio of 20.64, a P/E/G 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. The company had revenue of $76.49 billion during the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. During the same period last year, the company posted $1.89 earnings per share. Equities research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
Alphabet Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, June 9th. This is a boost from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.51%. Alphabet's payout ratio is currently 9.36%.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on GOOGL. DA Davidson reduced their target price on Alphabet from $200.00 to $160.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Jefferies Financial Group reduced their price objective on Alphabet from $235.00 to $200.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Wells Fargo & Company increased their price objective on Alphabet from $167.00 to $175.00 and gave the company an "equal weight" rating in a report on Friday, April 25th. Morgan Stanley cut their target price on shares of Alphabet from $210.00 to $185.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Finally, Sanford C. Bernstein increased their price target on shares of Alphabet from $165.00 to $185.00 and gave the stock a "market perform" rating in a research note on Friday, April 25th. Ten research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Alphabet presently has an average rating of "Moderate Buy" and an average target price of $199.75.
Check Out Our Latest Analysis on GOOGL
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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