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Mawer Investment Management Ltd. cut its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 3.8% during the fourth quarter, HoldingsChannel reports. The firm owned 45,054 shares of the information services provider’s stock after selling 1,803 shares during the period. Mawer Investment Management Ltd.’s holdings in Alphabet were worth $8,529,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also made changes to their positions in GOOGL. Community Bank N.A. grew its position in Alphabet by 6.4% in the 4th quarter. Community Bank N.A. now owns 46,173 shares of the information services provider’s stock valued at $8,741,000 after buying an additional 2,790 shares during the last quarter. Premier Fund Managers Ltd boosted its holdings in shares of Alphabet by 30.0% in the fourth quarter. Premier Fund Managers Ltd now owns 61,792 shares of the information services provider’s stock valued at $11,816,000 after acquiring an additional 14,262 shares in the last quarter. Absolute Capital Management LLC boosted its holdings in shares of Alphabet by 14.0% in the fourth quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider’s stock valued at $401,000 after acquiring an additional 258 shares in the last quarter. Permanent Capital Management LP acquired a new position in shares of Alphabet during the fourth quarter worth about $273,000. Finally, Glass Wealth Management Co LLC raised its holdings 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 in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts have issued reports on the company. Citizens Jmp cut Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. The Goldman Sachs Group restated a “buy” rating and issued a $210.00 price target on shares of Alphabet in a research note on Thursday, December 12th. DA Davidson increased their price objective on Alphabet from $190.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Jefferies Financial Group decreased their target price on shares of Alphabet from $235.00 to $200.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Finally, Morgan Stanley cut their price target on shares of Alphabet from $215.00 to $210.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Ten 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 target price of $209.13.
View Our Latest Stock Report on Alphabet
Alphabet Price Performance
Alphabet stock opened at $146.75 on Tuesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The company has a market cap of $1.79 trillion, a price-to-earnings ratio of 18.23, a PEG 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 firm has a 50 day moving average price of $174.25 and a 200 day moving average price of $176.82.
Alphabet (NASDAQ:GOOGL – Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 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%. Sell-side analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.
Alphabet Announces Dividend
The company also recently disclosed 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 of this dividend was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.55%. Alphabet’s dividend payout ratio (DPR) is 9.94%.
Insider Activity
In related news, insider John Kent Walker sold 17,690 shares of Alphabet stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $185.51, for a total transaction of $3,281,671.90. Following the transaction, the insider now owns 43,111 shares in the company, valued at approximately $7,997,521.61. The trade was a 29.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John L. Hennessy sold 200 shares of the stock in a transaction on Thursday, March 13th. The shares were 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 owns 7,813 shares of the company’s stock, valued at approximately $1,293,285.89. This represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 119,797 shares of company stock valued at $21,089,470 in the last three months. Corporate insiders own 11.55% of the company’s stock.
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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