Simmons Bank raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 4.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 96,054 shares of the information services provider's stock after buying an additional 4,475 shares during the quarter. Alphabet comprises 1.1% of Simmons Bank's investment portfolio, making the stock its 17th largest holding. Simmons Bank's holdings in Alphabet were worth $13,418,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Centric Wealth Management lifted its position in Alphabet by 18.7% in the fourth quarter. Centric Wealth Management now owns 7,567 shares of the information services provider's stock worth $1,087,000 after purchasing an additional 1,190 shares during the period. Charles Schwab Investment Management Inc. raised its position in Alphabet by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 34,910,194 shares of the information services provider's stock worth $4,876,605,000 after purchasing an additional 874,919 shares in the last quarter. Family Asset Management LLC lifted its stake in Alphabet by 157.9% during the fourth quarter. Family Asset Management LLC now owns 748 shares of the information services provider's stock worth $104,000 after purchasing an additional 458 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in Alphabet by 2.2% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 100,932 shares of the information services provider's stock valued at $14,099,000 after purchasing an additional 2,198 shares in the last quarter. Finally, N.E.W. Advisory Services LLC lifted its position in shares of Alphabet by 19.1% during the 4th quarter. N.E.W. Advisory Services LLC now owns 3,783 shares of the information services provider's stock worth $528,000 after buying an additional 608 shares during the period. 40.03% of the stock is owned by institutional investors.
Alphabet Stock Performance
Shares of GOOGL traded up $1.20 during midday trading on Tuesday, reaching $170.34. The stock had a trading volume of 25,088,066 shares, compared to its average volume of 30,381,191. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. The firm has a 50 day simple moving average of $154.03 and a 200-day simple moving average of $143.91. The firm has a market cap of $2.11 trillion, a PE ratio of 26.06, a P/E/G ratio of 1.29 and a beta of 1.02. Alphabet Inc. has a one year low of $115.35 and a one year high of $174.71.
Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The company had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $66.04 billion. During the same period in the previous year, the company posted $1.17 EPS. As a group, sell-side analysts anticipate that Alphabet Inc. will post 7.57 EPS for the current year.
Alphabet Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, June 10th. Alphabet's payout ratio is 12.27%.
Insider Transactions at Alphabet
In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the completion of the sale, the chief executive officer now owns 2,332,691 shares of the company's stock, valued at $309,548,095.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total value of $2,985,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,332,691 shares of the company's stock, valued at approximately $309,548,095.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Ruth Porat sold 48,077 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following the sale, the chief financial officer now directly owns 1,777,106 shares in the company, valued at $243,854,485.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 254,011 shares of company stock worth $37,337,245. Company insiders own 0.88% of the company's stock.
Analyst Ratings Changes
Several analysts have recently weighed in on the stock. Evercore ISI raised their price objective on shares of Alphabet from $160.00 to $220.00 and gave the stock an "outperform" rating in a report on Friday, April 26th. Truist Financial lifted their price objective on Alphabet from $170.00 to $190.00 and gave the company a "buy" rating in a research report on Friday, April 26th. JMP Securities boosted their price objective on Alphabet from $160.00 to $200.00 and gave the stock a "market outperform" rating in a research note on Friday, April 26th. Citigroup raised their target price on Alphabet from $168.00 to $190.00 and gave the company a "buy" rating in a research note on Friday, April 26th. Finally, Sanford C. Bernstein upped their price target on shares of Alphabet from $165.00 to $180.00 and gave the stock a "market perform" rating in a research report on Friday, April 26th. Five equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Alphabet has an average rating of "Moderate Buy" and a consensus target price of $190.60.
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Alphabet 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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