Patrick Mauro Investment Advisor INC. boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 9.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 29,553 shares of the information services provider's stock after purchasing an additional 2,601 shares during the period. Alphabet comprises 3.2% of Patrick Mauro Investment Advisor INC.'s portfolio, making the stock its 12th largest position. Patrick Mauro Investment Advisor INC.'s holdings in Alphabet were worth $5,594,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of GOOGL. Norges Bank bought a new position in Alphabet during the 4th quarter worth approximately $24,383,677,000. FMR LLC lifted 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 worth $47,025,322,000 after buying an additional 22,100,902 shares during the last quarter. Northern Trust Corp lifted its holdings in 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 buying an additional 10,135,430 shares during the last quarter. Capital Research Global Investors lifted its holdings in 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 worth $13,635,878,000 after buying an additional 10,037,685 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of Alphabet by 15.9% in the 4th quarter. Wellington Management Group LLP now owns 66,050,135 shares of the information services provider's stock worth $12,503,291,000 after purchasing an additional 9,042,271 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.
Wall Street Analyst Weigh In
Several analysts recently issued reports on the company. DZ Bank downgraded Alphabet from a "buy" rating to a "hold" rating and set a $198.00 price target on the stock. in a report on Thursday, February 6th. JMP Securities reissued a "market perform" rating on shares of Alphabet in a report on Wednesday. JPMorgan Chase & Co. cut their price target on Alphabet from $220.00 to $180.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Truist Financial cut their price target on Alphabet from $220.00 to $200.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Finally, Westpark Capital restated a "buy" rating and issued a $210.00 target price on shares of Alphabet in a research report on Thursday, May 8th. Ten analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $199.75.
View Our Latest Analysis on GOOGL
Insider Transactions at Alphabet
In other news, Director John L. Hennessy sold 200 shares of the firm's stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total value of $33,106.00. Following the completion of the sale, the director now owns 7,813 shares of the company's stock, valued at $1,293,285.89. This trade represents a 2.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of 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. This trade represents a 1.18% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 164,654 shares of company stock valued at $26,793,380 in the last three months. 11.64% of the stock is currently owned by corporate insiders.
Alphabet Price Performance
Shares of GOOGL traded down $2.40 during trading hours on Friday, hitting $168.47. 35,166,008 shares of the company were exchanged, compared to its average volume of 29,695,079. The company has a market capitalization of $2.04 trillion, a PE ratio of 20.93, a PEG ratio of 1.34 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The firm has a fifty day simple moving average of $158.57 and a 200-day simple moving average of $174.88. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05.
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 the consensus estimate of $2.02 by $0.79. The business had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. During the same period last year, the company posted $1.89 EPS. As a group, sell-side analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.
Alphabet Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, June 9th. This is a positive change from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.50%. 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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