Vivaldi Capital Management LP raised its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 23.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 15,493 shares of the information services provider's stock after buying an additional 2,985 shares during the quarter. Vivaldi Capital Management LP's holdings in Alphabet were worth $2,972,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in GOOGL. Rockbridge Capital Management LLC purchased a new position in shares of Alphabet in the fourth quarter worth about $3,119,000. Optivise Advisory Services LLC increased its holdings in Alphabet by 8.0% in the 4th quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider's stock worth $1,035,000 after buying an additional 403 shares during the period. Community Bank N.A. raised its position in Alphabet by 6.4% during the 4th quarter. Community Bank N.A. now owns 46,173 shares of the information services provider's stock worth $8,741,000 after buying an additional 2,790 shares during the last quarter. Premier Fund Managers Ltd lifted its stake in Alphabet by 30.0% during the 4th quarter. Premier Fund Managers Ltd now owns 61,792 shares of the information services provider's stock valued at $11,816,000 after acquiring an additional 14,262 shares during the period. Finally, Absolute Capital Management LLC boosted its holdings in shares of Alphabet by 14.0% in the 4th quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider's stock valued at $401,000 after acquiring an additional 258 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.
Insiders Place Their Bets
In other Alphabet news, insider Ruth Porat sold 17,690 shares of the firm's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the completion of the sale, the insider now owns 1,449,286 shares of the company's stock, valued at $265,914,995.28. This trade represents a 1.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders sold 129,744 shares of company stock valued at $20,968,366 in the last three months. 11.64% of the stock is currently owned by insiders.
Alphabet Price Performance
Shares of Alphabet stock traded down $2.56 during trading hours on Tuesday, reaching $163.98. 46,504,097 shares of the company's stock were exchanged, compared to its average volume of 29,183,600. The business has a fifty day moving average of $158.23 and a two-hundred day moving average of $174.93. The company has a market capitalization of $1.99 trillion, a P/E ratio of 20.37, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05.
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 the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The company had revenue of $76.49 billion during the quarter, compared to analysts' expectations of $89.30 billion. During the same quarter in the prior year, the company earned $1.89 EPS. As a group, research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
Alphabet Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be issued a $0.21 dividend. This is a boost from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.51%. The ex-dividend date is Monday, June 9th. Alphabet's dividend payout ratio is presently 9.36%.
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on the stock. Mizuho reduced their target price on shares of Alphabet from $230.00 to $205.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. JPMorgan Chase & Co. reduced their price objective on Alphabet from $220.00 to $180.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Stifel Nicolaus decreased their price objective on Alphabet from $225.00 to $192.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Sanford C. Bernstein raised their target price on Alphabet from $165.00 to $185.00 and gave the stock a "market perform" rating in a report on Friday, April 25th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $178.00 price target on shares of Alphabet in a report on Friday, April 25th. Ten equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $199.75.
View Our Latest Analysis on GOOGL
Alphabet Company Profile
(
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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