Ulland Investment Advisors LLC lessened its holdings in Alphabet Inc. (NASDAQ:GOOG - Free Report) by 24.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,650 shares of the information services provider's stock after selling 10,312 shares during the period. Alphabet comprises approximately 8.2% of Ulland Investment Advisors LLC's portfolio, making the stock its biggest position. Ulland Investment Advisors LLC's holdings in Alphabet were worth $10,246,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of the business. State Street Corp boosted its position in Alphabet by 1.3% during the 2nd quarter. State Street Corp now owns 188,914,125 shares of the information services provider's stock worth $33,511,477,000 after acquiring an additional 2,428,266 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Alphabet by 8.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 99,529,742 shares of the information services provider's stock valued at $24,240,469,000 after purchasing an additional 7,904,434 shares during the period. Alliancebernstein L.P. lifted its position in shares of Alphabet by 5.8% in the third quarter. Alliancebernstein L.P. now owns 40,032,291 shares of the information services provider's stock worth $9,749,864,000 after purchasing an additional 2,209,203 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of Alphabet by 0.7% during the third quarter. Legal & General Group Plc now owns 32,583,332 shares of the information services provider's stock worth $7,935,671,000 after purchasing an additional 223,743 shares during the period. Finally, Capital World Investors boosted its holdings in shares of Alphabet by 1.9% during the third quarter. Capital World Investors now owns 28,625,464 shares of the information services provider's stock worth $6,971,769,000 after purchasing an additional 539,679 shares during the period. 27.26% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other Alphabet news, CAO Amie Thuener O'toole sold 955 shares of Alphabet stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $298.00, for a total value of $284,590.00. Following the transaction, the chief accounting officer directly owned 9,918 shares of the company's stock, valued at $2,955,564. The trade was a 8.78% decrease in their position. The sale 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 company's stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $307.89, for a total value of $10,006,425.00. Following the transaction, the chief executive officer owned 1,642,060 shares of the company's stock, valued at approximately $505,573,853.40. This trade represents a 1.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 2,110,165 shares of company stock worth $118,134,117 over the last 90 days. Company insiders own 12.99% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $370.00 price objective on shares of Alphabet in a research report on Tuesday, January 20th. Scotiabank reissued an "outperform" rating and set a $400.00 target price (up from $375.00) on shares of Alphabet in a research note on Thursday, February 5th. Wells Fargo & Company upgraded shares of Alphabet from a "hold" rating to a "strong-buy" rating in a report on Monday, February 23rd. Oppenheimer reiterated an "outperform" rating and set a $360.00 price objective on shares of Alphabet in a report on Thursday, February 5th. Finally, Piper Sandler reissued an "overweight" rating and set a $395.00 price objective on shares of Alphabet in a research report on Thursday, February 5th. Nine research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Alphabet presently has an average rating of "Buy" and an average price target of $345.71.
Read Our Latest Analysis on GOOG
More Alphabet News
Here are the key news stories impacting Alphabet this week:
Alphabet Price Performance
NASDAQ GOOG opened at $289.20 on Wednesday. The company has a market cap of $3.50 trillion, a P/E ratio of 26.75, a P/E/G ratio of 1.75 and a beta of 1.10. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.11. Alphabet Inc. has a 1 year low of $142.66 and a 1 year high of $350.15. The company has a fifty day simple moving average of $316.04 and a 200 day simple moving average of $294.86.
Alphabet (NASDAQ:GOOG - Get Free Report) last released its quarterly earnings results on Thursday, February 5th. The information services provider reported $2.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.59 by $0.23. The company had revenue of $113.83 billion during the quarter, compared to analysts' expectations of $111.24 billion. Alphabet had a net margin of 32.81% and a return on equity of 35.01%. The business's quarterly revenue was up 18.0% compared to the same quarter last year. During the same period in the prior year, the company earned $2.15 earnings per share. On average, sell-side analysts predict that Alphabet Inc. will post 8.89 EPS for the current 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 paid a dividend of $0.21 per share. The ex-dividend date was Monday, March 9th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet's dividend payout ratio is presently 7.77%.
Alphabet Profile
(
Free Report)
Alphabet Inc NASDAQ: GOOG is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as "Other Bets." Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company's history.
Alphabet's core business centers on internet search and advertising, with Google Search and the company's ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.
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