Nemes Rush Group LLC Has $11.01 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Key Points

• Nemes Rush Group LLC increased its stake in Alphabet Inc. by 2.0%, holding 71,186 shares valued at approximately $11.01 million, making it the firm's 25th largest position.
• Several institutional investors, including FMR LLC and Norges Bank, have significantly increased their holdings in Alphabet during the fourth quarter.
• Alphabet recently announced a quarterly dividend of $0.21 per share, representing a 0.4% yield, with an 8.95% payout ratio.

Nemes Rush Group LLC increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 71,186 shares of the information services provider's stock after buying an additional 1,380 shares during the quarter. Alphabet accounts for about 1.4% of Nemes Rush Group LLC's investment portfolio, making the stock its 25th largest position. Nemes Rush Group LLC's holdings in Alphabet were worth $11,008,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also bought and sold shares of GOOGL. FMR LLC increased its holdings in Alphabet by 9.8% during the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock valued at $47,025,322,000 after purchasing an additional 22,100,902 shares in the last quarter. Norges Bank bought a new stake in shares of Alphabet during the fourth quarter worth $24,383,677,000. Price T Rowe Associates Inc. MD grew its holdings in shares of Alphabet by 8.3% during the fourth 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 purchasing an additional 7,574,417 shares during the last quarter. Capital Research Global Investors increased its stake in shares of Alphabet by 16.2% in the fourth 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 buying an additional 10,037,685 shares in the last quarter. Finally, Northern Trust Corp raised 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 buying an additional 10,135,430 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.

Insider Buying and Selling at Alphabet

In other news, Director Kavitark Ram Shriram sold 18,566 shares of the stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the completion of the transaction, the director directly owned 243,400 shares in the company, valued at $45,213,984. This represents a 7.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $178.52, for a total value of $5,801,900.00. Following the completion of the transaction, the chief executive officer owned 2,559,892 shares of the company's stock, valued at $456,991,919.84. The trade was a 1.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 249,399 shares of company stock valued at $43,525,794 in the last 90 days. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Trading Down 1.4%

NASDAQ:GOOGL opened at $189.13 on Monday. The company has a market cap of $2.29 trillion, a P/E ratio of 20.14, a price-to-earnings-growth ratio of 1.28 and a beta of 1.01. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The business has a 50 day moving average price of $178.32 and a two-hundred day moving average price of $172.82. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 0.07.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Monday, September 8th will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, September 8th. This represents a $0.84 annualized dividend and a yield of 0.4%. Alphabet's dividend payout ratio is presently 8.95%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on GOOGL shares. Rosenblatt Securities increased their price objective on shares of Alphabet from $189.00 to $191.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Barclays increased their price target on shares of Alphabet from $220.00 to $235.00 and gave the company an "overweight" rating in a research note on Thursday, July 24th. BMO Capital Markets boosted their price objective on shares of Alphabet from $208.00 to $225.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Morgan Stanley upped their price objective on Alphabet from $185.00 to $205.00 and gave the stock an "overweight" rating in a report on Monday, July 21st. Finally, DA Davidson lifted their target price on Alphabet from $160.00 to $180.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $211.39.

Alphabet Profile

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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