NorthCrest Asset Manangement LLC grew its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 2.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 327,368 shares of the information services provider's stock after buying an additional 6,597 shares during the period. Alphabet accounts for 2.3% of NorthCrest Asset Manangement LLC's investment portfolio, making the stock its 5th largest position. NorthCrest Asset Manangement LLC's holdings in Alphabet were worth $103,625,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in GOOGL. Delta Asset Management LLC TN lifted its holdings in Alphabet by 0.6% during the third quarter. Delta Asset Management LLC TN now owns 6,153 shares of the information services provider's stock valued at $1,496,000 after purchasing an additional 37 shares during the last quarter. Second Line Capital LLC increased its stake in shares of Alphabet by 0.8% in the third quarter. Second Line Capital LLC now owns 4,417 shares of the information services provider's stock worth $1,074,000 after purchasing an additional 37 shares in the last quarter. Matisse Capital raised its position in shares of Alphabet by 0.3% in the third quarter. Matisse Capital now owns 14,814 shares of the information services provider's stock valued at $3,601,000 after purchasing an additional 38 shares during the period. Rialto Wealth Management LLC raised its position in shares of Alphabet by 1.7% in the third quarter. Rialto Wealth Management LLC now owns 2,226 shares of the information services provider's stock valued at $541,000 after purchasing an additional 38 shares during the period. Finally, Hodges Capital Management Inc. lifted its stake in shares of Alphabet by 0.5% during the 3rd quarter. Hodges Capital Management Inc. now owns 6,963 shares of the information services provider's stock valued at $1,693,000 after buying an additional 38 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.
Alphabet Stock Up 0.2%
Shares of NASDAQ:GOOGL opened at $290.93 on Thursday. The firm has a fifty day moving average price of $315.22 and a two-hundred day moving average price of $294.43. The company has a market cap of $3.52 trillion, a price-to-earnings ratio of 26.91, a PEG ratio of 1.70 and a beta of 1.10. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.01 and a quick ratio of 2.01. Alphabet Inc. has a one year low of $140.53 and a one year high of $349.00.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Wednesday, February 4th. The information services provider reported $2.82 earnings per share for the quarter, topping the consensus estimate of $2.57 by $0.25. Alphabet had a net margin of 32.81% and a return on equity of 35.01%. The firm had revenue of $113.83 billion for the quarter, compared to analysts' expectations of $111.24 billion. Analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.
Alphabet Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 9th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 0.3%. The ex-dividend date was Monday, March 9th. Alphabet's payout ratio is presently 7.77%.
Insiders Place Their Bets
In other Alphabet news, insider John Kent Walker sold 47,574 shares of the company's stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $301.45, for a total value of $14,341,182.30. Following the transaction, the insider directly owned 13,227 shares in the company, valued at $3,987,279.15. This represents a 78.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $321.21, for a total value of $10,439,325.00. Following the completion of the sale, the chief executive officer directly owned 2,244,372 shares in the company, valued at approximately $720,914,730.12. The trade was a 1.43% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 2,110,165 shares of company stock valued at $118,134,117 over the last 90 days. 11.64% of the stock is owned by insiders.
Analyst Ratings Changes
Several research firms recently commented on GOOGL. President Capital raised their price objective on shares of Alphabet from $323.00 to $375.00 and gave the stock a "buy" rating in a report on Tuesday, February 10th. Tigress Financial set a $415.00 target price on Alphabet and gave the stock a "strong-buy" rating in a research report on Thursday, February 19th. Raymond James Financial raised Alphabet from a "moderate buy" rating to a "strong-buy" rating in a report on Thursday, January 22nd. DA Davidson lifted their price target on Alphabet from $300.00 to $310.00 and gave the company a "neutral" rating in a research report on Thursday, February 5th. Finally, Piper Sandler reiterated an "overweight" rating and set a $395.00 price objective (up from $365.00) on shares of Alphabet in a research note on Thursday, February 5th. Three investment analysts have rated the stock with a Strong Buy rating, forty-three have assigned a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $367.18.
Get Our Latest Analysis on Alphabet
Alphabet News Roundup
Here are the key news stories impacting Alphabet this week:
Alphabet Company Profile
(
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.
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