Renaissance Technologies LLC Has $593,000 Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Renaissance Technologies LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 99.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,050 shares of the information services provider's stock after selling 740,564 shares during the period. Renaissance Technologies LLC's holdings in Alphabet were worth $593,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Compass Planning Associates Inc acquired a new stake in Alphabet in the 4th quarter valued at $30,000. E Fund Management Hong Kong Co. Ltd. lifted its stake in shares of Alphabet by 518.8% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider's stock valued at $37,000 after buying an additional 166 shares in the last quarter. Fiduciary Advisors Inc. acquired a new position in shares of Alphabet during the fourth quarter valued at about $39,000. PayPay Securities Corp increased its position in shares of Alphabet by 36.1% during the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider's stock worth $46,000 after acquiring an additional 65 shares in the last quarter. Finally, Prudent Man Investment Management Inc. acquired a new stake in shares of Alphabet in the 4th quarter worth about $53,000. 40.03% of the stock is owned by institutional investors.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O'toole sold 1,340 shares of the business's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $202.08, for a total value of $270,787.20. Following the transaction, the chief accounting officer now owns 17,848 shares in the company, valued at approximately $3,606,723.84. The trade was a 6.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Kent Walker sold 17,690 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $185.51, for a total value of $3,281,671.90. Following the completion of the sale, the insider now owns 43,111 shares of the company's stock, valued at approximately $7,997,521.61. This trade represents a 29.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 148,164 shares of company stock worth $25,357,390 over the last ninety days. Insiders own 11.55% of the company's stock.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of a number of recent research reports. DZ Bank lowered Alphabet from a "buy" rating to a "hold" rating and set a $198.00 price objective for the company. in a report on Thursday, February 6th. UBS Group set a $195.00 price objective on shares of Alphabet in a report on Friday, April 25th. Morgan Stanley lowered their target price on shares of Alphabet from $210.00 to $185.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Truist Financial cut their price target on shares of Alphabet from $220.00 to $200.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Alphabet from $220.00 to $180.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Ten investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and five have assigned a strong buy rating to the company's stock. According to MarketBeat, Alphabet has an average rating of "Moderate Buy" and a consensus price target of $199.46.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $164.03 on Friday. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The firm has a market capitalization of $2.00 trillion, a price-to-earnings ratio of 20.38, a PEG ratio of 1.34 and a beta of 1.03. The company's fifty day moving average price is $160.19 and its 200-day moving average price is $175.34.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.79. The firm had revenue of $76.49 billion during the quarter, compared to analyst estimates 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 previous year, the company posted $1.89 earnings per share. On average, equities research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.51%. This is a positive change from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio is currently 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.

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