OneDigital Investment Advisors LLC trimmed its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 5.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 238,283 shares of the information services provider's stock after selling 12,510 shares during the quarter. OneDigital Investment Advisors LLC's holdings in Alphabet were worth $36,848,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Alphabet during the 4th quarter worth about $24,383,677,000. FMR LLC grew its stake in shares of Alphabet by 9.8% in 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 buying an additional 22,100,902 shares during the period. GAMMA Investing LLC boosted its position in shares of Alphabet by 16,993.2% during the 1st quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider's stock worth $2,483,898,000 after purchasing an additional 15,968,487 shares during the period. Northern Trust Corp boosted its position in Alphabet by 17.0% in the 4th 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 period. Finally, Capital Research Global Investors raised its holdings in shares of Alphabet by 16.2% in 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 purchasing an additional 10,037,685 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on the stock. Mizuho cut their price target on shares of Alphabet from $230.00 to $205.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Piper Sandler lifted their target price on shares of Alphabet from $185.00 to $195.00 and gave the company an "overweight" rating in a report on Friday, April 25th. Roth Mkm reissued a "buy" rating and set a $220.00 price objective on shares of Alphabet in a report on Wednesday, March 19th. Westpark Capital reissued a "buy" rating and issued a $210.00 price objective on shares of Alphabet in a research report on Thursday, May 8th. Finally, Bank of America upped their price target on shares of Alphabet from $185.00 to $200.00 and gave the stock a "buy" rating in a research report on Friday, April 25th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $199.61.
Check Out Our Latest Stock Report on GOOGL
Insider Buying and Selling at Alphabet
In related news, Director Kavitark Ram Shriram sold 9,000 shares of the firm's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,575,000.00. Following the transaction, the director directly owned 255,400 shares of the company's stock, valued at approximately $44,695,000. This trade represents a 3.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $178.52, for a total value of $5,801,900.00. Following the completion of the sale, the chief executive officer owned 2,559,892 shares in the company, valued at approximately $456,991,919.84. This represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 215,643 shares of company stock valued at $36,330,928 in the last 90 days. Corporate insiders own 11.64% of the company's stock.
Alphabet Price Performance
Shares of NASDAQ:GOOGL opened at $177.62 on Friday. The stock's 50 day moving average is $169.99 and its 200-day moving average is $173.57. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The firm has a market capitalization of $2.16 trillion, a price-to-earnings ratio of 19.80, a PEG ratio of 1.24 and a beta of 1.00. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.03.
Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. The firm had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 34.54% and a net margin of 30.86%. During the same quarter in the prior year, the company earned $1.89 EPS. Sell-side analysts forecast that Alphabet Inc. will post 8.9 EPS for the current fiscal year.
Alphabet Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were paid a $0.21 dividend. The ex-dividend date was Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.47%. This is an increase from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio (DPR) is currently 9.36%.
About Alphabet
(
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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