Quintet Private Bank Europe S.A. Purchases 82,124 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Quintet Private Bank Europe S.A. boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 14.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 669,487 shares of the information services provider’s stock after acquiring an additional 82,124 shares during the period. Alphabet makes up approximately 7.0% of Quintet Private Bank Europe S.A.’s portfolio, making the stock its 3rd largest position. Quintet Private Bank Europe S.A.’s holdings in Alphabet were worth $126,734,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Compass Planning Associates Inc purchased a new position in shares of Alphabet in the fourth quarter worth about $30,000. LMR Partners LLP purchased a new position in shares of Alphabet in the third quarter worth about $32,000. E Fund Management Hong Kong Co. Ltd. lifted its stake in shares of Alphabet by 518.8% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock worth $37,000 after buying an additional 166 shares in the last quarter. Fiduciary Advisors Inc. purchased a new position in shares of Alphabet in the fourth quarter worth about $39,000. Finally, PayPay Securities Corp lifted its stake in shares of Alphabet by 36.1% in the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after buying an additional 65 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. JMP Securities reissued a “market perform” rating on shares of Alphabet in a research note on Wednesday, February 5th. DZ Bank downgraded shares of Alphabet from a “buy” rating to a “hold” rating and set a $198.00 price target on the stock. in a research note on Thursday, February 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $225.00 target price on shares of Alphabet in a research note on Wednesday, February 5th. Wells Fargo & Company lifted their target price on shares of Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Finally, Piper Sandler reduced their target price on shares of Alphabet from $210.00 to $208.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $210.62.

Alphabet Trading Up 1.7 %

NASDAQ GOOGL opened at $165.49 on Monday. The firm has a 50 day moving average of $185.70 and a two-hundred day moving average of $176.56. Alphabet Inc. has a 52 week low of $140.03 and a 52 week high of $207.05. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $2.02 trillion, a PE ratio of 20.56, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. As a group, research analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. The ex-dividend date is Monday, March 10th. Alphabet’s payout ratio is 9.94%.

Insider Activity at Alphabet

In other Alphabet news, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the completion of the transaction, the director now owns 7,813 shares in the company, valued at approximately $1,293,285.89. This represents a 2.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ruth Porat sold 17,690 shares of the company’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the transaction, the insider now owns 1,449,286 shares of the company’s stock, valued at approximately $265,914,995.28. The trade was a 1.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 93,048 shares of company stock worth $17,374,274 in the last 90 days. 11.55% of the stock is owned by insiders.

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.