Sierra Summit Advisors LLC grew its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 15.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 101,923 shares of the information services provider's stock after acquiring an additional 13,331 shares during the quarter. Alphabet comprises 3.9% of Sierra Summit Advisors LLC's holdings, making the stock its 3rd largest position. Sierra Summit Advisors LLC's holdings in Alphabet were worth $19,294,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in GOOGL. Community Bank N.A. increased its holdings in shares of Alphabet by 6.4% in the fourth quarter. Community Bank N.A. now owns 46,173 shares of the information services provider's stock valued at $8,741,000 after purchasing an additional 2,790 shares during the last quarter. Premier Fund Managers Ltd increased its stake in shares of Alphabet by 30.0% in the 4th quarter. Premier Fund Managers Ltd now owns 61,792 shares of the information services provider's stock worth $11,816,000 after acquiring an additional 14,262 shares during the last quarter. Absolute Capital Management LLC raised its holdings in shares of Alphabet by 14.0% during the 4th quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider's stock worth $401,000 after acquiring an additional 258 shares during the period. Permanent Capital Management LP acquired a new position in shares of Alphabet during the 4th quarter valued at about $273,000. Finally, Glass Wealth Management Co LLC raised its stake in Alphabet by 4.5% during the fourth quarter. Glass Wealth Management Co LLC now owns 37,054 shares of the information services provider's stock worth $7,014,000 after purchasing an additional 1,580 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.
Alphabet Stock Performance
NASDAQ GOOGL traded down $2.35 during trading hours on Thursday, hitting $150.98. The company had a trading volume of 14,857,231 shares, compared to its average volume of 28,203,915. The business has a 50 day moving average of $166.53 and a 200-day moving average of $175.98. The company has a market cap of $1.84 trillion, a PE ratio of 18.81, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. As a group, equities research analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.
Alphabet Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were issued a $0.20 dividend. The ex-dividend date was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.53%. Alphabet's payout ratio is 9.94%.
Analysts Set New Price Targets
Several analysts have recently weighed in on GOOGL shares. Jefferies Financial Group dropped their price target on shares of Alphabet from $235.00 to $200.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Truist Financial lowered their price objective on Alphabet from $220.00 to $200.00 and set a "buy" rating for the company in a research report on Thursday. Needham & Company LLC restated a "buy" rating and issued a $178.00 target price on shares of Alphabet in a research report on Wednesday. DZ Bank lowered Alphabet from a "buy" rating to a "hold" rating and set a $198.00 price target on the stock. in a research note on Thursday, February 6th. Finally, JPMorgan Chase & Co. cut their price objective on Alphabet from $220.00 to $180.00 and set an "overweight" rating for the company in a research report on Tuesday, April 8th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $201.38.
Check Out Our Latest Analysis on Alphabet
Insider Buying and Selling
In other Alphabet news, insider John Kent Walker sold 17,690 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $185.51, for a total value of $3,281,671.90. Following the transaction, the insider now directly owns 43,111 shares of the company's stock, valued at approximately $7,997,521.61. The trade was a 29.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O'toole sold 1,340 shares of the firm's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total transaction of $270,787.20. Following the completion of the sale, the chief accounting officer now owns 17,848 shares of the company's stock, valued at $3,606,723.84. This trade represents a 6.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 115,663 shares of company stock worth $20,286,447 in the last 90 days. Company insiders own 11.55% of the company's stock.
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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