Pathstone Holdings LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 0.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 886,361 shares of the information services provider's stock after selling 8,300 shares during the period. Alphabet accounts for 0.7% of Pathstone Holdings LLC's investment portfolio, making the stock its 22nd biggest holding. Pathstone Holdings LLC's holdings in Alphabet were worth $167,826,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its position in Alphabet by 7.7% during the third quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider's stock valued at $10,559,240,000 after purchasing an additional 4,567,275 shares in the last quarter. Regent Peak Wealth Advisors LLC grew its position in Alphabet by 0.9% during the fourth quarter. Regent Peak Wealth Advisors LLC now owns 23,533 shares of the information services provider's stock valued at $4,455,000 after purchasing an additional 207 shares in the last quarter. Wealth Group Ltd. grew its position in Alphabet by 5.2% during the fourth quarter. Wealth Group Ltd. now owns 1,582 shares of the information services provider's stock valued at $299,000 after purchasing an additional 78 shares in the last quarter. Cooper Financial Group grew its position in Alphabet by 9.6% during the fourth quarter. Cooper Financial Group now owns 68,368 shares of the information services provider's stock valued at $12,942,000 after purchasing an additional 5,988 shares in the last quarter. Finally, Accelerate Investment Advisors LLC grew its position in Alphabet by 3.3% during the fourth quarter. Accelerate Investment Advisors LLC now owns 2,736 shares of the information services provider's stock valued at $518,000 after purchasing an additional 87 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Alphabet
In other news, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $155.90, for a total value of $5,066,750.00. Following the sale, the chief executive officer now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John L. Hennessy sold 200 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $165.53, for a total transaction of $33,106.00. Following the sale, the director now directly owns 7,813 shares in the company, valued at approximately $1,293,285.89. This represents a 2.50% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 179,324 shares of company stock valued at $30,153,353. 11.64% of the stock is owned by insiders.
Alphabet Price Performance
Shares of GOOGL stock traded up $2.23 during mid-day trading on Friday, reaching $166.19. The company's stock had a trading volume of 42,579,974 shares, compared to its average volume of 29,063,648. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05. The company has a market cap of $2.02 trillion, a P/E ratio of 20.64, a PEG ratio of 1.34 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The firm's 50-day moving average is $158.17 and its two-hundred day moving average is $175.03.
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 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 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 posted $1.89 EPS. On average, research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.
Alphabet Increases Dividend
The company 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 $0.21 dividend. This is a positive change from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.51%. Alphabet's dividend payout ratio is presently 9.36%.
Analysts Set New Price Targets
A number of brokerages recently commented on GOOGL. Mizuho lowered their price objective on shares of Alphabet from $230.00 to $205.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. UBS Group set a $195.00 price objective on shares of Alphabet in a research report on Friday, April 25th. Cantor Fitzgerald decreased their target price on shares of Alphabet from $200.00 to $159.00 and set a "neutral" rating for the company in a research report on Wednesday, April 16th. Wells Fargo & Company boosted their target price on shares of Alphabet from $167.00 to $175.00 and gave the stock an "equal weight" rating in a research report on Friday, April 25th. Finally, Sanford C. Bernstein boosted their target price on shares of Alphabet from $165.00 to $185.00 and gave the stock a "market perform" rating in a research report on Friday, April 25th. Ten analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat.com, Alphabet has a consensus rating of "Moderate Buy" and a consensus price target of $199.75.
Check Out Our Latest Stock Analysis on GOOGL
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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