Fullerton Fund Management Co Ltd. lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 33.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 195,154 shares of the information services provider's stock after selling 98,417 shares during the quarter. Alphabet makes up approximately 1.3% of Fullerton Fund Management Co Ltd.'s portfolio, making the stock its 20th largest holding. Fullerton Fund Management Co Ltd.'s holdings in Alphabet were worth $37,165,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in GOOG. Norges Bank purchased a new stake in shares of Alphabet in the fourth quarter worth about $5,166,070,000. Raymond James Financial Inc. purchased a new stake in Alphabet in the fourth quarter valued at approximately $1,551,533,000. Northern Trust Corp raised its stake in Alphabet by 16.1% in the fourth quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock valued at $10,873,751,000 after purchasing an additional 7,917,625 shares in the last quarter. GQG Partners LLC raised its stake in Alphabet by 181,679.1% in the fourth quarter. GQG Partners LLC now owns 7,225,721 shares of the information services provider's stock valued at $1,376,066,000 after purchasing an additional 7,221,746 shares in the last quarter. Finally, Capital International Investors raised its stake in Alphabet by 6.7% in the fourth quarter. Capital International Investors now owns 91,236,069 shares of the information services provider's stock valued at $17,376,706,000 after purchasing an additional 5,758,244 shares in the last quarter. 27.26% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In other news, Director Kavitark Ram Shriram sold 29,066 shares of Alphabet stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $184.89, for a total value of $5,374,012.74. Following the completion of the transaction, the director now owns 272,466 shares of the company's stock, valued at $50,376,238.74. The trade was a 9.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $155.90, for a total value of $5,066,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,652,696 shares of the company's stock, valued at approximately $413,555,306.40. This represents a 1.21% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 179,324 shares of company stock worth $30,153,353. Corporate insiders own 12.99% of the company's stock.
Alphabet Stock Up 0.8%
Shares of GOOG stock traded up $1.31 during mid-day trading on Tuesday, reaching $160.89. 24,740,473 shares of the company's stock traded hands, compared to its average volume of 19,585,103. Alphabet Inc. has a 12 month low of $142.66 and a 12 month high of $208.70. The company has a market cap of $1.95 trillion, a P/E ratio of 19.99, a P/E/G 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. The company's 50-day moving average price is $160.65 and its 200-day moving average price is $176.97.
Alphabet (NASDAQ:GOOG - Get Free Report) last announced its 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 net margin of 28.60% and a return on equity of 32.49%. The firm had revenue of $90.23 billion for the quarter, compared to analysts' expectations of $89.30 billion. During the same quarter in the previous year, the business posted $1.89 EPS. The company's quarterly revenue was up 12.0% on a year-over-year basis. On average, equities analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.
Alphabet Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date of this dividend is Monday, June 9th. This is a boost from Alphabet's previous quarterly dividend of $0.20. Alphabet's payout ratio is 9.36%.
Analyst Ratings Changes
GOOG has been the topic of a number of recent analyst reports. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Alphabet in a research note on Wednesday, February 5th. Needham & Company LLC downgraded shares of Alphabet from a "buy" rating to a "cautious" rating in a research note on Friday, May 2nd. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $171.00 target price on shares of Alphabet in a research note on Friday, April 25th. Tigress Financial reiterated a "strong-buy" rating on shares of Alphabet in a research report on Friday, May 2nd. Finally, Benchmark reiterated a "negative" rating on shares of Alphabet in a research report on Wednesday, February 5th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have issued a buy rating and five have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $203.94.
Read Our Latest Stock Analysis on GOOG
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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