Clune & Associates LTD. Invests $441,000 in Alphabet Inc. (NASDAQ:GOOGL)

Clune & Associates LTD. acquired a new position in shares of Alphabet Inc. (NASDAQ:GOOGL) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,332 shares of the information services provider’s stock, valued at approximately $441,000.

Several other institutional investors have also added to or reduced their stakes in GOOGL. State Street Corp lifted its holdings in shares of Alphabet by 0.3% in the third quarter. State Street Corp now owns 222,555,548 shares of the information services provider’s stock valued at $36,910,838,000 after purchasing an additional 743,369 shares in the last quarter. Geode Capital Management LLC lifted its stake in Alphabet by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock valued at $22,154,651,000 after acquiring an additional 2,626,431 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Alphabet by 7.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock valued at $10,559,240,000 after acquiring an additional 4,567,275 shares in the last quarter. Fisher Asset Management LLC boosted its position in Alphabet by 1.5% during the 4th quarter. Fisher Asset Management LLC now owns 50,615,038 shares of the information services provider’s stock worth $9,581,427,000 after acquiring an additional 757,138 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Alphabet by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 38,451,718 shares of the information services provider’s stock valued at $7,278,910,000 after purchasing an additional 1,218,639 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

Alphabet Trading Down 0.0 %

Shares of GOOGL opened at $157.04 on Thursday. 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 Inc. has a 52-week low of $147.22 and a 52-week high of $207.05. The firm has a market cap of $1.91 trillion, a price-to-earnings ratio of 19.51, a PEG ratio of 1.34 and a beta of 1.03. The business’s fifty day moving average is $177.19 and its 200-day moving average is $176.95.

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

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.51%. The ex-dividend date was Monday, March 10th. Alphabet’s payout ratio is 9.94%.

Insider Buying and Selling at Alphabet

In related news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $189.80, for a total transaction of $284,700.00. Following the sale, the director now owns 21,824 shares of the company’s stock, valued at $4,142,195.20. This trade represents a 6.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider John Kent Walker sold 17,690 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $185.51, for a total value of $3,281,671.90. Following the completion of the transaction, the insider now directly owns 43,111 shares of the company’s stock, valued at approximately $7,997,521.61. The trade was a 29.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 87,297 shares of company stock worth $15,936,270 over the last quarter. Corporate insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on GOOGL shares. DA Davidson increased their target price on shares of Alphabet from $190.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. Piper Sandler decreased their price objective on Alphabet from $210.00 to $208.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Westpark Capital raised Alphabet to a “strong-buy” rating in a research report on Tuesday. Bank of America reissued a “buy” rating and set a $210.00 price target on shares of Alphabet in a research report on Monday, December 23rd. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $205.00 price target on shares of Alphabet in a research report on Tuesday, December 10th. Ten analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and five have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $209.49.

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.