Snowden Capital Advisors LLC Has $20.36 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Snowden Capital Advisors LLC decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 10.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 107,575 shares of the information services provider's stock after selling 12,033 shares during the period. Alphabet makes up about 0.6% of Snowden Capital Advisors LLC's portfolio, making the stock its 23rd biggest position. Snowden Capital Advisors LLC's holdings in Alphabet were worth $20,364,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Norges Bank bought a new position in Alphabet in the fourth quarter valued at about $24,383,677,000. FMR LLC raised its holdings in Alphabet by 9.8% in the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider's stock valued at $47,025,322,000 after buying an additional 22,100,902 shares during the last quarter. Northern Trust Corp raised its holdings in Alphabet by 17.0% in the 4th quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider's stock valued at $13,178,470,000 after buying an additional 10,135,430 shares during the last quarter. 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 buying an additional 10,037,685 shares during the period. Finally, Wellington Management Group LLP grew its holdings 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 last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on GOOGL shares. Rosenblatt Securities dropped their price target on shares of Alphabet from $205.00 to $189.00 and set a "neutral" rating for the company in a research note on Friday, April 25th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $200.00 target price on shares of Alphabet in a research report on Wednesday, April 23rd. Needham & Company LLC reiterated a "buy" rating and issued a $178.00 price target on shares of Alphabet in a research report on Friday, April 25th. Piper Sandler increased their price target on Alphabet from $185.00 to $195.00 and gave the company an "overweight" rating in a research note on Friday, April 25th. Finally, Sanford C. Bernstein lifted their price objective on Alphabet from $165.00 to $185.00 and gave the stock a "market perform" rating in a research note on Friday, April 25th. Ten investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $199.75.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $155.90, for a total value of $5,066,750.00. Following the completion of 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 trade represents a 1.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 200 shares of the company's stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $161.90, for a total transaction of $32,380.00. Following the sale, the director now directly owns 7,613 shares in the company, valued at approximately $1,232,544.70. This trade represents a 2.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 179,324 shares of company stock worth $30,153,353 in the last ninety days. Company insiders own 11.64% of the company's stock.

Alphabet Stock Performance

Shares of GOOGL stock opened at $163.96 on Friday. 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 50-day moving average of $158.17 and a 200-day moving average of $175.03. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The company has a market cap of $1.99 trillion, a P/E ratio of 20.37, a P/E/G ratio of 1.34 and a beta of 1.01.

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

Alphabet Increases Dividend

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