McCarthy Asset Management Inc. trimmed its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 82.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,629 shares of the information services provider's stock after selling 12,560 shares during the quarter. Alphabet makes up approximately 0.4% of McCarthy Asset Management Inc.'s holdings, making the stock its 20th biggest position. McCarthy Asset Management Inc.'s holdings in Alphabet were worth $498,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. FMR LLC boosted its stake in Alphabet by 9.8% during 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 buying an additional 22,100,902 shares during the last quarter. Norges Bank purchased a new stake in shares of Alphabet during the 4th quarter worth approximately $24,383,677,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Alphabet by 8.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 98,638,127 shares of the information services provider's stock worth $18,672,198,000 after acquiring an additional 7,574,417 shares in the last quarter. Capital Research Global Investors boosted its position in shares of Alphabet by 16.2% during the 4th quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock valued at $13,635,878,000 after acquiring an additional 10,037,685 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Alphabet by 17.0% in the fourth quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock valued at $13,178,470,000 after purchasing an additional 10,135,430 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
GOOGL has been the topic of a number of recent research reports. Stifel Nicolaus decreased their price target on shares of Alphabet from $225.00 to $192.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. BMO Capital Markets restated an "outperform" rating and issued a $200.00 target price (down from $230.00) on shares of Alphabet in a report on Thursday, April 17th. Bank of America increased their price target on shares of Alphabet from $185.00 to $200.00 and gave the company a "buy" rating in a report on Friday, April 25th. Wells Fargo & Company lifted their price target on Alphabet from $167.00 to $175.00 and gave the stock an "equal weight" rating in a research report on Friday, April 25th. Finally, DZ Bank cut Alphabet from a "buy" rating to a "hold" rating and set a $198.00 price objective on the stock. in a research note on Thursday, February 6th. Ten 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. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $199.75.
Check Out Our Latest Research Report on GOOGL
Insider Activity
In other Alphabet news, insider Ruth Porat sold 17,690 shares of the business's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $183.48, for a total value of $3,245,761.20. Following the completion of the transaction, the insider now directly owns 1,449,286 shares in the company, valued at approximately $265,914,995.28. The trade was a 1.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the sale, the chief executive officer now directly owns 2,717,696 shares of the company's stock, valued at approximately $430,917,877.76. The trade was a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 129,744 shares of company stock worth $20,968,366. Corporate insiders own 11.64% of the company's stock.
Alphabet Price Performance
GOOGL opened at $163.98 on Wednesday. The company has a market capitalization of $1.99 trillion, a price-to-earnings ratio of 20.37, a PEG ratio of 1.34 and a beta of 1.01. 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 business's fifty day simple moving average is $158.23 and its 200-day simple moving average is $174.93.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping analysts' consensus estimates of $2.02 by $0.79. The company had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. During the same period in the prior year, the firm earned $1.89 earnings per share. On average, equities research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
Alphabet Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend is Monday, June 9th. This is a boost from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio is presently 9.36%.
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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