Eldred Rock Partners LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 0.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 87,022 shares of the information services provider’s stock after selling 148 shares during the period. Alphabet makes up approximately 5.6% of Eldred Rock Partners LLC’s holdings, making the stock its 2nd biggest holding. Eldred Rock Partners LLC’s holdings in Alphabet were worth $16,544,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Conrad Siegel Investment Advisors Inc. boosted its position in Alphabet by 0.5% during the fourth quarter. Conrad Siegel Investment Advisors Inc. now owns 9,845 shares of the information services provider’s stock worth $1,864,000 after purchasing an additional 53 shares in the last quarter. Denver PWM LLC raised its stake in shares of Alphabet by 25.4% during the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after buying an additional 57 shares during the period. Ignite Planners LLC lifted its position in shares of Alphabet by 0.4% during the 4th quarter. Ignite Planners LLC now owns 15,078 shares of the information services provider’s stock valued at $2,892,000 after buying an additional 57 shares in the last quarter. Fermata Advisors LLC grew its stake in Alphabet by 0.8% in the 4th quarter. Fermata Advisors LLC now owns 7,433 shares of the information services provider’s stock valued at $1,407,000 after acquiring an additional 57 shares during the period. Finally, Winch Advisory Services LLC increased its holdings in Alphabet by 1.3% in the 4th quarter. Winch Advisory Services LLC now owns 4,386 shares of the information services provider’s stock worth $830,000 after acquiring an additional 58 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $171.42, for a total value of $234,331.14. Following the sale, the chief accounting officer now directly owns 26,349 shares of the company’s stock, valued at approximately $4,516,745.58. This represents a 4.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Frances Arnold sold 441 shares of Alphabet stock in a transaction on Monday, November 4th. The stock was sold at an average price of $171.06, for a total transaction of $75,437.46. Following the sale, the director now directly owns 16,490 shares of the company’s stock, valued at approximately $2,820,779.40. This trade represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 133,387 shares of company stock worth $24,368,654. Corporate insiders own 11.55% of the company’s stock.
Alphabet Stock Performance
Alphabet (NASDAQ:GOOGL – Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter in the previous year, the business posted $1.55 earnings per share. As a group, analysts anticipate that Alphabet Inc. will post 8.03 EPS for the current year.
Alphabet Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.
Analyst Upgrades and Downgrades
Several analysts have recently issued reports on the stock. Scotiabank upgraded shares of Alphabet to a “strong-buy” rating in a research report on Friday, October 11th. China Renaissance upgraded Alphabet from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Sanford C. Bernstein increased their target price on Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price target on Alphabet from $212.00 to $232.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Finally, KeyCorp increased their price objective on Alphabet from $215.00 to $225.00 and gave the company an “overweight” rating in a research note on Friday, January 10th. Nine research analysts have rated the stock with a hold rating, thirty have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $208.67.
Check Out Our Latest Stock Report on Alphabet
Alphabet 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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