HBK Sorce Advisory LLC Has $11.81 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

HBK Sorce Advisory LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 62,399 shares of the information services provider’s stock after buying an additional 2,016 shares during the period. Alphabet makes up 0.4% of HBK Sorce Advisory LLC’s portfolio, making the stock its 29th biggest position. HBK Sorce Advisory LLC’s holdings in Alphabet were worth $11,812,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Penobscot Wealth Management grew its holdings in shares of Alphabet by 23.3% in the 4th quarter. Penobscot Wealth Management now owns 1,599 shares of the information services provider’s stock valued at $303,000 after buying an additional 302 shares during the period. 1776 Wealth LLC lifted its holdings in Alphabet by 2.2% during the fourth quarter. 1776 Wealth LLC now owns 21,245 shares of the information services provider’s stock worth $4,022,000 after acquiring an additional 454 shares in the last quarter. LFA Lugano Financial Advisors SA lifted its holdings in Alphabet by 5.0% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 1,924 shares of the information services provider’s stock worth $364,000 after acquiring an additional 91 shares in the last quarter. Skandinaviska Enskilda Banken AB publ increased its holdings in shares of Alphabet by 7.8% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 2,862,762 shares of the information services provider’s stock worth $547,475,000 after acquiring an additional 207,705 shares in the last quarter. Finally, Erste Asset Management GmbH raised its position in shares of Alphabet by 11.8% during the fourth quarter. Erste Asset Management GmbH now owns 1,348,875 shares of the information services provider’s stock worth $247,605,000 after purchasing an additional 142,583 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Trading Up 2.3 %

Shares of Alphabet stock opened at $167.68 on Tuesday. The firm’s 50 day moving average is $182.10 and its 200 day moving average is $176.73. The firm has a market capitalization of $2.04 trillion, a PE ratio of 20.83, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02. Alphabet Inc. has a 1 year low of $147.22 and a 1 year high of $207.05. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.

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

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is currently 9.94%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on GOOGL shares. Needham & Company LLC reissued 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 raised their price objective on shares of Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Morgan Stanley reduced their target price on shares of Alphabet from $215.00 to $210.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Robert W. Baird reissued an “outperform” rating and issued a $205.00 price target on shares of Alphabet in a research note on Tuesday, December 10th. Finally, DZ Bank cut Alphabet from a “buy” rating to a “hold” rating and set a $198.00 price objective for the company. in a research report on Thursday, February 6th. Ten research 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. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $210.59.

Insider Activity

In other news, insider John Kent Walker sold 16,820 shares of Alphabet stock in a transaction on Monday, December 30th. The shares were sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the transaction, the insider now owns 43,981 shares in the company, valued at approximately $8,471,620.22. The trade was a 27.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 1,368 shares of the stock in a transaction on Thursday, January 2nd. The shares were 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 $3,961,445.55. The trade was a 6.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 93,048 shares of company stock valued at $17,374,274 over the last quarter. 11.55% of the stock is owned by company insiders.

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.