Park Square Financial Group LLC bought a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 6,528 shares of the information services provider's stock, valued at approximately $1,236,000. Alphabet makes up 0.9% of Park Square Financial Group LLC's portfolio, making the stock its 25th largest position.
A number of other institutional investors also recently added to or reduced their stakes in GOOGL. FMR LLC grew its position 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 purchasing an additional 22,100,902 shares in the last quarter. Norges Bank acquired a new stake in Alphabet during the fourth quarter valued at $24,383,677,000. Price T Rowe Associates Inc. MD grew its stake in Alphabet by 8.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 98,638,127 shares of the information services provider's stock valued at $18,672,198,000 after purchasing an additional 7,574,417 shares in the last quarter. Capital Research Global Investors increased its position in 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 worth $13,635,878,000 after purchasing an additional 10,037,685 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of Alphabet by 17.0% during the 4th quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock worth $13,178,470,000 after purchasing an additional 10,135,430 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.
Alphabet Stock Performance
Shares of NASDAQ:GOOGL traded down $2.07 on Friday, reaching $169.79. 21,881,583 shares of the company's stock were exchanged, compared to its average volume of 29,833,023. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $2.06 trillion, a price-to-earnings ratio of 21.10, a PEG ratio of 1.34 and a beta of 1.01. The company has a fifty day moving average of $159.12 and a 200-day moving average of $174.68. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05.
Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly 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 business had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter in the previous year, the firm earned $1.89 earnings per share. On average, research analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.
Alphabet Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.49%. This is a positive change from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. Alphabet's dividend payout ratio is presently 9.36%.
Insider Transactions at Alphabet
In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, April 2nd. The stock was 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 in the company, valued at approximately $430,917,877.76. This trade represents a 1.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Amie Thuener O'toole sold 673 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total transaction of $104,537.09. Following the completion of the sale, the chief accounting officer now owns 15,303 shares in the company, valued at $2,377,014.99. This represents a 4.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 164,533 shares of company stock valued at $26,772,774 over the last ninety days. 11.55% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
GOOGL has been the topic of several recent research reports. Piper Sandler raised their target price on Alphabet from $185.00 to $195.00 and gave the company an "overweight" rating in a report on Friday, April 25th. DZ Bank lowered Alphabet from a "buy" rating to a "hold" rating and set a $198.00 target price for the company. in a report on Thursday, February 6th. Oppenheimer increased their price target on Alphabet from $185.00 to $200.00 and gave the company an "outperform" rating in a report on Friday, April 25th. Truist Financial decreased their price target on shares of Alphabet from $220.00 to $200.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Finally, Jefferies Financial Group decreased their target price on Alphabet from $235.00 to $200.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Ten analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat, Alphabet presently has a consensus rating of "Moderate Buy" and a consensus price target of $199.75.
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About Alphabet
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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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