Fourth Dimension Wealth LLC bought a new position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 4,614 shares of the information services provider's stock, valued at approximately $883,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its position in shares of Alphabet by 7.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider's stock worth $10,559,240,000 after purchasing an additional 4,567,275 shares in the last quarter. Regent Peak Wealth Advisors LLC boosted its position in shares of Alphabet by 0.9% in the 4th quarter. Regent Peak Wealth Advisors LLC now owns 23,533 shares of the information services provider's stock worth $4,455,000 after purchasing an additional 207 shares in the last quarter. Wealth Group Ltd. boosted its position in shares of Alphabet by 5.2% in the 4th quarter. Wealth Group Ltd. now owns 1,582 shares of the information services provider's stock worth $299,000 after purchasing an additional 78 shares in the last quarter. Capital & Planning LLC boosted its position in shares of Alphabet by 34.3% in the 4th quarter. Capital & Planning LLC now owns 4,383 shares of the information services provider's stock worth $830,000 after purchasing an additional 1,119 shares in the last quarter. Finally, Joule Financial LLC boosted its position in shares of Alphabet by 22.5% in the 4th quarter. Joule Financial LLC now owns 13,028 shares of the information services provider's stock worth $2,466,000 after purchasing an additional 2,392 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.
Insiders Place Their Bets
In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $155.90, for a total value of $5,066,750.00. Following the completion of the sale, the chief executive officer now owns 2,652,696 shares in the company, valued at approximately $413,555,306.40. This represents a 1.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O'toole sold 1,374 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $173.47, for a total value of $238,347.78. Following the completion of the sale, the chief accounting officer now owns 15,024 shares of the company's stock, valued at $2,606,213.28. The trade was a 8.38% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 112,054 shares of company stock worth $17,722,605. Corporate insiders own 11.64% of the company's stock.
Wall Street Analyst Weigh In
GOOGL has been the topic of a number of analyst reports. BMO Capital Markets reissued an "outperform" rating and issued a $200.00 price target (down from $230.00) on shares of Alphabet in a research report on Thursday, April 17th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $200.00 price objective on shares of Alphabet in a research report on Wednesday, April 23rd. Rosenblatt Securities reiterated a "neutral" rating and set a $189.00 target price on shares of Alphabet in a research note on Wednesday. Piper Sandler increased their target price on Alphabet from $185.00 to $195.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Finally, KeyCorp increased their target price on Alphabet from $185.00 to $195.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Ten equities 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. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $199.75.
View Our Latest Research Report on GOOGL
Alphabet Trading Up 1.4%
NASDAQ:GOOGL opened at $170.87 on Friday. 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 has a market capitalization of $2.07 trillion, a price-to-earnings ratio of 21.23, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The business has a fifty day moving average price of $158.42 and a 200-day moving average price of $174.89.
Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.02 by $0.79. The firm 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 prior year, the business posted $1.89 EPS. Sell-side analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.
Alphabet Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend is Monday, June 9th. This is a positive change from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio is presently 9.36%.
Alphabet Profile
(
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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