1,116,167 Shares in Alphabet Inc. (NASDAQ:GOOGL) Purchased by OFI Invest Asset Management

OFI Invest Asset Management acquired a new stake in Alphabet Inc. (NASDAQ:GOOGL) in the 4th quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,116,167 shares of the information services provider’s stock, valued at approximately $204,047,000. Alphabet comprises 4.8% of OFI Invest Asset Management’s holdings, making the stock its 4th largest position.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Compass Planning Associates Inc purchased a new position in Alphabet in the 4th quarter valued at approximately $30,000. LMR Partners LLP purchased a new position in shares of Alphabet during the third quarter valued at about $32,000. E Fund Management Hong Kong Co. Ltd. grew its holdings in 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 purchasing an additional 166 shares during the period. Fiduciary Advisors Inc. purchased a new stake in shares of Alphabet during the fourth quarter valued at approximately $39,000. Finally, PayPay Securities Corp lifted its position in Alphabet by 36.1% during the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after purchasing an additional 65 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of several recent research reports. Robert W. Baird reiterated an “outperform” rating and issued a $205.00 price target on shares of Alphabet in a research report on Tuesday, December 10th. Cantor Fitzgerald reiterated a “neutral” rating and set a $200.00 price objective on shares of Alphabet in a report on Wednesday. Bank of America restated a “buy” rating and issued a $210.00 price target on shares of Alphabet in a report on Monday, December 23rd. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a research report on Thursday, December 12th. Finally, DA Davidson boosted 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, January 24th. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $210.59.

Alphabet Price Performance

Alphabet stock opened at $163.99 on Friday. Alphabet Inc. has a 52-week low of $147.22 and a 52-week high of $207.05. The firm has a market capitalization of $2.00 trillion, a price-to-earnings ratio of 20.37, a PEG ratio of 1.34 and a beta of 1.02. The company has a fifty day simple moving average of $182.57 and a 200-day simple moving average of $176.38. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping 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%. On average, equities analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were issued a $0.20 dividend. The ex-dividend date was Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.49%. Alphabet’s dividend payout ratio (DPR) is 9.94%.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,368 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $191.55, for a total value of $262,040.40. Following the completion of the sale, the chief accounting officer now owns 20,681 shares of the company’s stock, valued at approximately $3,961,445.55. This trade represents a 6.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Kent Walker sold 16,820 shares of Alphabet stock in a transaction on Monday, December 30th. The stock was sold at an average price of $192.62, for a total value of $3,239,868.40. Following the transaction, the insider now directly owns 43,981 shares of the company’s stock, valued at $8,471,620.22. This trade represents a 27.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 93,048 shares of company stock valued at $17,374,274 over the last 90 days. 11.55% of the stock is owned by corporate insiders.

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.