Inspire Trust Co. N.A. decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 58.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,411 shares of the information services provider's stock after selling 1,976 shares during the quarter. Inspire Trust Co. N.A.'s holdings in Alphabet were worth $267,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of the company. Legacy Financial Group Inc. raised its stake in Alphabet by 6.6% during the 4th quarter. Legacy Financial Group Inc. now owns 5,609 shares of the information services provider's stock valued at $1,062,000 after purchasing an additional 349 shares during the period. Mosaic Family Wealth Partners LLC raised its position in shares of Alphabet by 16.6% during the fourth quarter. Mosaic Family Wealth Partners LLC now owns 5,154 shares of the information services provider's stock valued at $976,000 after buying an additional 734 shares during the last quarter. RB Capital Management LLC lifted its holdings in shares of Alphabet by 1.3% in the fourth quarter. RB Capital Management LLC now owns 32,964 shares of the information services provider's stock worth $6,240,000 after buying an additional 425 shares in the last quarter. Patrick Mauro Investment Advisor INC. lifted its holdings in shares of Alphabet by 9.7% in the fourth quarter. Patrick Mauro Investment Advisor INC. now owns 29,553 shares of the information services provider's stock worth $5,594,000 after buying an additional 2,601 shares in the last quarter. Finally, DCM Advisors LLC boosted its position in shares of Alphabet by 47.5% during the fourth quarter. DCM Advisors LLC now owns 48,756 shares of the information services provider's stock worth $9,119,000 after acquiring an additional 15,699 shares during the last quarter. Institutional investors own 40.03% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on GOOGL. JMP Securities reiterated a "market perform" rating on shares of Alphabet in a report on Wednesday. Bank of America lifted their target price on Alphabet from $185.00 to $200.00 and gave the stock a "buy" rating in a report on Friday, April 25th. Royal Bank of Canada reiterated an "outperform" rating and issued a $200.00 target price on shares of Alphabet in a research report on Wednesday, April 23rd. Cantor Fitzgerald dropped their price target on Alphabet from $200.00 to $159.00 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. Finally, Piper Sandler lifted their price objective on Alphabet from $185.00 to $195.00 and gave the stock an "overweight" 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 assigned a strong buy rating to the company's stock. According to MarketBeat.com, Alphabet has an average rating of "Moderate Buy" and a consensus target price of $199.75.
Check Out Our Latest Stock Analysis on Alphabet
Alphabet Stock Performance
Shares of NASDAQ:GOOGL opened at $168.56 on Thursday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05. The company has a market capitalization of $2.05 trillion, a price-to-earnings ratio of 20.94, a PEG ratio of 1.34 and a beta of 1.01. The firm's 50-day moving average is $158.29 and its 200 day moving average is $174.88.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The firm had revenue of $76.49 billion for the quarter, compared to analysts' expectations of $89.30 billion. During the same quarter in the prior year, the firm posted $1.89 earnings per share. Research analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.
Alphabet Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend is Monday, June 9th. This is an increase from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio is 9.36%.
Insiders Place Their Bets
In other Alphabet news, insider Ruth Porat sold 17,690 shares of the firm's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the transaction, the insider now directly owns 1,449,286 shares in the company, valued at $265,914,995.28. This trade represents a 1.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $155.90, for a total value of $5,066,750.00. Following the sale, 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. Insiders have sold a total of 129,744 shares of company stock worth $20,968,366 over the last quarter. Company insiders own 11.64% of the company's stock.
Alphabet Profile
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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.
Further Reading
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