Reliant Investment Management LLC increased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 0.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 51,547 shares of the information services provider’s stock after acquiring an additional 120 shares during the quarter. Alphabet makes up about 4.3% of Reliant Investment Management LLC’s holdings, making the stock its 3rd largest position. Reliant Investment Management LLC’s holdings in Alphabet were worth $9,758,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of the business. State Street Corp lifted its stake in Alphabet by 0.3% in the third quarter. State Street Corp now owns 222,555,548 shares of the information services provider’s stock valued at $36,910,838,000 after purchasing an additional 743,369 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Alphabet by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock valued at $22,154,651,000 after buying an additional 2,626,431 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Alphabet by 7.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock worth $10,559,240,000 after acquiring an additional 4,567,275 shares during the period. Fisher Asset Management LLC increased its holdings in Alphabet by 2.5% in the 3rd quarter. Fisher Asset Management LLC now owns 49,857,900 shares of the information services provider’s stock worth $8,268,933,000 after acquiring an additional 1,237,385 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Alphabet by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 37,233,079 shares of the information services provider’s stock valued at $6,175,106,000 after acquiring an additional 523,416 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.
Insider Buying and Selling at Alphabet
In other news, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was 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 $4,516,745.58. The trade was a 4.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kavitark Ram Shriram sold 37,134 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total value of $6,870,532.68. Following the completion of the sale, the director now owns 282,832 shares in the company, valued at $52,329,576.64. The trade was a 11.61 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 133,387 shares of company stock valued at $24,368,654. 11.55% of the stock is currently owned by corporate insiders.
Alphabet Stock Up 1.1 %
Alphabet (NASDAQ:GOOGL – Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. During the same period in the previous year, the firm earned $1.55 EPS. Sell-side analysts anticipate that Alphabet Inc. will post 8.02 EPS for the current year.
Alphabet Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were issued a $0.20 dividend. The ex-dividend date was Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.40%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.
Wall Street Analyst Weigh In
GOOGL has been the subject of a number of research reports. DA Davidson increased their target price on shares of Alphabet from $190.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday. JMP Securities reissued a “market perform” rating on shares of Alphabet in a report on Friday, January 10th. Scotiabank raised Alphabet to a “strong-buy” rating in a report on Friday, October 11th. Wedbush boosted their price objective on Alphabet from $210.00 to $220.00 and gave the company an “outperform” rating in a research note on Monday, January 6th. Finally, Wells Fargo & Company raised their target price on Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Nine equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $209.44.
Get Our Latest Stock Analysis on Alphabet
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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