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Vanguard Group Inc. cut its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 0.8% in the fourth quarter, HoldingsChannel reports. The firm owned 495,518,986 shares of the information services provider’s stock after selling 4,063,723 shares during the period. Alphabet comprises about 1.6% of Vanguard Group Inc.’s investment portfolio, making the stock its 8th largest holding. Vanguard Group Inc.’s holdings in Alphabet were worth $93,801,744,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Compass Planning Associates Inc purchased a new stake in Alphabet during the fourth quarter worth $30,000. E Fund Management Hong Kong Co. Ltd. lifted its stake in shares of Alphabet by 518.8% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock worth $37,000 after purchasing an additional 166 shares during the last quarter. Fiduciary Advisors Inc. bought a new stake in Alphabet during the fourth quarter valued at about $39,000. PayPay Securities Corp grew its stake in Alphabet by 36.1% in the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after purchasing an additional 65 shares during the last quarter. Finally, Denver PWM LLC raised its holdings in Alphabet by 25.4% in the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after purchasing an additional 57 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research firms recently commented on GOOGL. Jefferies Financial Group reduced their price objective on shares of Alphabet from $235.00 to $200.00 and set a “buy” rating for the company in a research note on Monday. Westpark Capital raised Alphabet to a “strong-buy” rating in a research report on Tuesday. Rosenblatt Securities reissued a “neutral” rating and issued a $205.00 price objective on shares of Alphabet in a research report on Wednesday, March 19th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $210.00 target price on shares of Alphabet in a research report on Thursday, December 12th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $225.00 price target on shares of Alphabet in a report on Wednesday, February 5th. Ten 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, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $209.49.
Read Our Latest Stock Report on GOOGL
Alphabet Stock Down 0.0 %
Shares of NASDAQ GOOGL opened at $157.04 on Thursday. The firm has a market cap of $1.91 trillion, a price-to-earnings ratio of 19.51, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. The company’s 50-day simple moving average is $177.19 and its 200-day simple moving average is $176.95. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 52-week low of $147.22 and a 52-week high of $207.05.
Alphabet (NASDAQ:GOOGL – Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Equities analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.
Alphabet Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.51%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s dividend payout ratio is currently 9.94%.
Insider Buying and Selling at Alphabet
In other Alphabet news, insider John Kent Walker sold 17,690 shares of the firm’s stock in a transaction that occurred 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 $7,997,521.61. This trade represents a 29.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,834 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $194.32, for a total value of $550,702.88. Following the completion of the sale, the chief accounting officer now owns 17,847 shares of the company’s stock, valued at $3,468,029.04. This trade represents a 13.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 87,297 shares of company stock worth $15,936,270. Corporate insiders own 11.55% of the company’s stock.
About Alphabet
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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