Atalanta Sosnoff Capital LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 21.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,319,039 shares of the information services provider's stock after purchasing an additional 236,587 shares during the period. Alphabet comprises 8.0% of Atalanta Sosnoff Capital LLC's portfolio, making the stock its 2nd biggest position. Atalanta Sosnoff Capital LLC's holdings in Alphabet were worth $412,859,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank purchased a new stake in Alphabet during the 4th quarter valued at about $30,534,239,000. Berkshire Hathaway Inc acquired a new position in Alphabet in the 3rd quarter worth about $4,338,397,000. Vanguard Group Inc. raised its holdings in Alphabet by 2.4% in the 4th 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 during the period. Capital World Investors raised its holdings in shares of Alphabet by 28.0% during the third quarter. Capital World Investors now owns 53,107,572 shares of the information services provider's stock valued at $12,910,542,000 after acquiring an additional 11,605,785 shares during the last quarter. Finally, Capital Research Global Investors increased its holdings in shares of Alphabet by 15.7% in the third quarter. Capital Research Global Investors now owns 50,732,476 shares of the information services provider's stock valued at $12,333,076,000 after purchasing an additional 6,874,381 shares during the last quarter. 40.03% of the stock is owned by institutional investors.
Alphabet Stock Performance
NASDAQ GOOGL opened at $359.68 on Friday. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. Alphabet Inc. has a 52-week low of $162.00 and a 52-week high of $408.61. The business's 50-day moving average price is $360.45 and its 200 day moving average price is $330.26. The firm has a market cap of $4.36 trillion, a P/E ratio of 27.44, a P/E/G ratio of 1.53 and a beta of 1.23.
Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The information services provider reported $5.11 earnings per share for the quarter, beating analysts' consensus estimates of $2.64 by $2.47. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The company had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.98 billion. On average, equities research analysts expect that Alphabet Inc. will post 14.3 earnings per share for the current year.
Alphabet Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 8th will be paid a dividend of $0.22 per share. This is a positive change from Alphabet's previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Monday, June 8th. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. Alphabet's dividend payout ratio is presently 6.71%.
Insider Buying and Selling at Alphabet
In related news, Director John L. Hennessy sold 1,050 shares of Alphabet stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $393.26, for a total transaction of $412,923.00. Following the completion of the transaction, the director directly owned 2,531 shares in the company, valued at $995,341.06. The trade was a 29.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder 2019 Gp L.L.C. Gv sold 87,475 shares of Alphabet stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $23.75, for a total value of $2,077,531.25. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 193,016 shares of company stock worth $17,282,549. Corporate insiders own 11.61% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on the company. Citigroup reaffirmed an "outperform" rating on shares of Alphabet in a report on Monday, May 4th. Piper Sandler reiterated an "overweight" rating and issued a $445.00 price objective (up from $425.00) on shares of Alphabet in a research report on Monday, June 1st. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Alphabet in a research report on Tuesday, April 28th. Rosenblatt Securities reiterated a "neutral" rating and issued a $393.00 price objective on shares of Alphabet in a research report on Thursday, May 21st. Finally, Guggenheim reiterated a "buy" rating and issued a $450.00 price objective (up from $375.00) on shares of Alphabet in a research report on Thursday, April 30th. Two research 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. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $413.13.
Check Out Our Latest Research Report on GOOGL
Key Alphabet News
Here are the key news stories impacting Alphabet this week:
Alphabet Company Profile
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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.
Further Reading
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