Alphabet Inc. (NASDAQ:GOOGL) Stock Position Boosted by Corient Private Wealth LLC

Corient Private Wealth LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 8.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,428,628 shares of the information services provider’s stock after buying an additional 420,575 shares during the quarter. Alphabet comprises about 1.7% of Corient Private Wealth LLC’s investment portfolio, making the stock its 9th largest holding. Corient Private Wealth LLC’s holdings in Alphabet were worth $1,022,040,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Pettinga Financial Advisors LLC increased its position in Alphabet by 10.1% during the 3rd quarter. Pettinga Financial Advisors LLC now owns 2,186 shares of the information services provider’s stock valued at $363,000 after buying an additional 201 shares in the last quarter. Impax Asset Management Group plc increased its holdings in shares of Alphabet by 6.8% during the third quarter. Impax Asset Management Group plc now owns 728,575 shares of the information services provider’s stock valued at $120,834,000 after acquiring an additional 46,677 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Alphabet by 3.1% in the 3rd quarter. Principal Financial Group Inc. now owns 11,283,594 shares of the information services provider’s stock valued at $1,871,384,000 after purchasing an additional 337,031 shares during the last quarter. Saturna Capital Corp raised its position in shares of Alphabet by 0.3% in the 3rd quarter. Saturna Capital Corp now owns 1,430,995 shares of the information services provider’s stock valued at $237,331,000 after purchasing an additional 4,003 shares during the last quarter. Finally, Arjuna Capital boosted its stake in Alphabet by 0.7% in the 3rd quarter. Arjuna Capital now owns 102,574 shares of the information services provider’s stock worth $17,012,000 after purchasing an additional 706 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on GOOGL shares. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $210.00 price target on shares of Alphabet in a report on Thursday, December 12th. KeyCorp reduced their target price on Alphabet from $220.00 to $202.00 and set an “overweight” rating for the company in a research note on Tuesday, March 18th. JMP Securities reaffirmed a “market perform” rating on shares of Alphabet in a research report on Wednesday, February 5th. Wolfe Research increased their price objective on Alphabet from $220.00 to $230.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Finally, Bank of America reaffirmed a “buy” rating and set a $210.00 target price on shares of Alphabet in a report on Monday, December 23rd. Ten research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $210.59.

Alphabet Trading Down 1.7 %

Shares of GOOGL stock opened at $162.24 on Friday. Alphabet Inc. has a fifty-two week low of $147.22 and a fifty-two week high of $207.05. The firm has a market capitalization of $1.98 trillion, a P/E ratio of 20.15, a PEG ratio of 1.34 and a beta of 1.02. The stock’s fifty day moving average is $180.49 and its two-hundred day moving average is $176.68. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84.

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

Alphabet Dividend Announcement

The business also recently declared 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 of this dividend was Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. Alphabet’s dividend payout ratio is presently 9.94%.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O’toole sold 1,368 shares of Alphabet stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total transaction of $262,040.40. Following the transaction, the chief accounting officer now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Kent Walker sold 16,820 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 43,981 shares of the company’s stock, valued at approximately $8,471,620.22. This trade represents a 27.66 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 104,812 shares of company stock worth $19,336,979. 11.55% of the stock is owned by corporate 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.