Perpetual Ltd decreased its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 2.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 561,269 shares of the information services provider’s stock after selling 14,770 shares during the period. Alphabet makes up about 1.3% of Perpetual Ltd’s portfolio, making the stock its 22nd biggest holding. Perpetual Ltd’s holdings in Alphabet were worth $106,248,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Schear Investment Advisers LLC raised its stake in Alphabet by 17.0% in the 3rd quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock worth $5,598,000 after acquiring an additional 4,905 shares during the last quarter. Trinity Financial Advisors LLC raised its stake in shares of Alphabet by 4.5% during the 3rd quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock valued at $771,000 after buying an additional 190 shares during the last quarter. Landscape Capital Management L.L.C. raised its stake in shares of Alphabet by 27.9% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider’s stock valued at $4,192,000 after buying an additional 5,516 shares during the last quarter. abrdn plc raised its stake in shares of Alphabet by 10.7% during the 3rd quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock valued at $1,037,196,000 after buying an additional 611,233 shares during the last quarter. Finally, StoneCrest Wealth Management Inc. raised its stake in shares of Alphabet by 0.7% during the 3rd quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock valued at $3,567,000 after buying an additional 140 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.
Analysts Set New Price Targets
GOOGL has been the subject of a number of recent research reports. Truist Financial lifted their price objective on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Loop Capital lifted their price objective on Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a research note on Wednesday, November 6th. Scotiabank upgraded Alphabet to a “strong-buy” rating in a research note on Friday, October 11th. Stifel Nicolaus raised their target price on Alphabet from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Finally, Bank of America restated a “buy” rating and set a $210.00 target price on shares of Alphabet in a research report on Monday, December 23rd. Nine equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average target price of $209.44.
Insider Activity at Alphabet
In other news, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $170.41, for a total transaction of $232,950.47. Following the completion of the transaction, the chief accounting officer now owns 23,515 shares of the company’s stock, valued at $4,007,191.15. This represents a 5.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $177.36, for a total transaction of $3,990,600.00. Following the transaction, the chief executive officer now directly owns 2,084,306 shares of the company’s stock, valued at approximately $369,672,512.16. This represents a 1.07 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 133,387 shares of company stock valued at $24,368,654. 11.55% of the stock is owned by insiders.
Alphabet Stock Performance
NASDAQ GOOGL opened at $200.21 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. Alphabet Inc. has a 1 year low of $130.66 and a 1 year high of $202.29. The company has a market capitalization of $2.45 trillion, a PE ratio of 26.55, a P/E/G ratio of 1.27 and a beta of 0.98. The company has a fifty day moving average of $186.46 and a two-hundred day moving average of $173.80.
Alphabet (NASDAQ:GOOGL – Get Free Report) last issued its earnings results 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 company had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. During the same period last year, the company posted $1.55 earnings per share. As a group, analysts expect that Alphabet Inc. will post 8.02 earnings per share for the current year.
Alphabet Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.40%. The ex-dividend date was Monday, December 9th. Alphabet’s payout ratio is 10.61%.
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.
Featured Stories
- Five stocks we like better than Alphabet
- What is MarketRank™? How to Use it
- Bloom Energy: Powering the Future With Decentralized Energy
- 3 Grocery Stocks That Are Proving They Are Still Essential
- Dividend Powerhouses: Blue-Chip Stocks Built for the Long Haul
- How to Use Stock Screeners to Find Stocks
- Why Traders Are Buying the Dip on Johnson & Johnson Stock
Receive News & Ratings for Alphabet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Alphabet and related companies with MarketBeat.com's FREE daily email newsletter.