Untitled Investments LP boosted its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 5.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 145,018 shares of the information services provider's stock after buying an additional 7,800 shares during the period. Alphabet makes up approximately 6.7% of Untitled Investments LP's portfolio, making the stock its 6th biggest position. Untitled Investments LP's holdings in Alphabet were worth $27,452,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GOOGL. FMR LLC raised its stake in shares of 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 purchasing an additional 22,100,902 shares during the period. Norges Bank bought a new stake in shares of Alphabet during the 4th quarter worth $24,383,677,000. Price T Rowe Associates Inc. MD raised its stake in shares of Alphabet by 8.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 98,638,127 shares of the information services provider's stock worth $18,672,198,000 after purchasing an additional 7,574,417 shares during the period. Capital Research Global Investors raised its stake in shares of 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 purchasing an additional 10,037,685 shares during the period. Finally, Northern Trust Corp raised its stake in shares of 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 purchasing an additional 10,135,430 shares during the period. 40.03% of the stock is owned by institutional investors.
Insider Transactions at Alphabet
In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the sale, the chief executive officer now directly owns 2,717,696 shares of the company's stock, valued at approximately $430,917,877.76. The trade was a 1.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $165.53, for a total value of $33,106.00. Following the completion of the sale, the director now directly owns 7,813 shares in the company, valued at $1,293,285.89. This trade represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 148,163 shares of company stock valued at $25,361,647 over the last three months. Corporate insiders own 11.55% of the company's stock.
Alphabet Stock Performance
GOOGL stock traded down $1.36 during midday trading on Wednesday, reaching $158.80. 34,484,953 shares of the company's stock traded hands, compared to its average volume of 28,226,752. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. The stock has a market cap of $1.94 trillion, a P/E ratio of 19.73, a PEG ratio of 1.34 and a beta of 1.03. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock's 50-day moving average is $160.78 and its 200 day moving average is $175.37.
Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. The business had revenue of $76.49 billion during 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 period in the prior year, the company earned $1.89 earnings per share. As a group, analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.
Alphabet Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders 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 is a boost from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.53%. Alphabet's dividend payout ratio is 9.36%.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on GOOGL. BMO Capital Markets restated an "outperform" rating and issued a $200.00 price objective (down from $230.00) on shares of Alphabet in a research note on Thursday, April 17th. Stifel Nicolaus lowered their price target on shares of Alphabet from $225.00 to $192.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $200.00 price objective on shares of Alphabet in a report on Wednesday, April 23rd. Susquehanna lowered their target price on shares of Alphabet from $225.00 to $220.00 and set a "positive" rating on the stock in a report on Friday, April 25th. Finally, Sanford C. Bernstein increased their target price on Alphabet from $165.00 to $185.00 and gave the stock a "market perform" rating in a research report on Friday, April 25th. Ten investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and five have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $199.46.
Read Our Latest Research Report on Alphabet
Alphabet Company 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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