Quantinno Capital Management LP Boosts Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Quantinno Capital Management LP grew its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 33.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 851,433 shares of the information services provider's stock after acquiring an additional 212,356 shares during the quarter. Alphabet makes up approximately 1.6% of Quantinno Capital Management LP's holdings, making the stock its 6th largest position. Quantinno Capital Management LP's holdings in Alphabet were worth $161,176,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in GOOGL. Norges Bank acquired a new position in Alphabet during the 4th quarter valued at approximately $24,383,677,000. FMR LLC boosted its position in Alphabet by 9.8% during the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock worth $47,025,322,000 after acquiring an additional 22,100,902 shares during the period. Northern Trust Corp boosted its position in Alphabet by 17.0% during the 4th quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock worth $13,178,470,000 after acquiring an additional 10,135,430 shares during the period. Capital Research Global Investors boosted its position in Alphabet by 16.2% during the 4th quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider's stock worth $13,635,878,000 after acquiring an additional 10,037,685 shares during the period. Finally, Wellington Management Group LLP boosted its position in Alphabet by 15.9% during the 4th quarter. Wellington Management Group LLP now owns 66,050,135 shares of the information services provider's stock worth $12,503,291,000 after acquiring an additional 9,042,271 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Rosenblatt Securities reduced their price target on Alphabet from $205.00 to $189.00 and set a "neutral" rating for the company in a research report on Friday, April 25th. Truist Financial cut their price objective on Alphabet from $220.00 to $200.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Tigress Financial upped their price objective on Alphabet from $220.00 to $240.00 and gave the company a "strong-buy" rating in a report on Wednesday, April 30th. Wedbush set a $190.00 target price on Alphabet and gave the stock an "outperform" rating in a research report on Tuesday, April 15th. Finally, UBS Group set a $195.00 target price on Alphabet in a research report on Friday, April 25th. Ten investment 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.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O'toole sold 673 shares of the firm's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total transaction of $104,537.09. Following the completion of the sale, the chief accounting officer now directly owns 15,303 shares of the company's stock, valued at $2,377,014.99. This trade represents a 4.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction on 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 directly owns 2,652,696 shares of the company's stock, valued at $413,555,306.40. This represents a 1.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 179,324 shares of company stock valued at $30,153,353 in the last quarter. Corporate insiders own 11.64% of the company's stock.

Alphabet Stock Performance

NASDAQ:GOOGL traded up $2.23 during mid-day trading on Friday, hitting $166.19. 42,579,974 shares of the company's stock traded hands, compared to its average volume of 29,063,648. The firm has a 50 day moving average of $158.17 and a two-hundred day moving average of $175.03. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05. The firm has a market capitalization of $2.02 trillion, a price-to-earnings ratio of 20.64, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.79. The firm had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. During the same quarter in the prior year, the company earned $1.89 EPS. On average, equities analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently declared 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. The ex-dividend date is Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.51%. Alphabet's dividend payout ratio is 9.36%.

Alphabet Company Profile

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.