Fmr LLC Has $37.53 Billion Position in Alphabet Inc. (NASDAQ:GOOGL)

Fmr LLC cut its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 226,316,014 shares of the information services provider’s stock after selling 2,112,773 shares during the period. Alphabet comprises about 2.3% of Fmr LLC’s investment portfolio, making the stock its 6th largest position. Fmr LLC owned about 1.85% of Alphabet worth $37,534,511,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. New Hampshire Trust grew its stake in Alphabet by 2.7% in the second quarter. New Hampshire Trust now owns 43,714 shares of the information services provider’s stock valued at $7,963,000 after acquiring an additional 1,132 shares during the period. Schear Investment Advisers LLC lifted its holdings in Alphabet by 17.0% during the 3rd quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock valued at $5,598,000 after purchasing an additional 4,905 shares during the last quarter. Trinity Financial Advisors LLC boosted its holdings in shares of Alphabet by 4.5% during the third quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock worth $771,000 after acquiring an additional 190 shares during the period. abrdn plc increased its position in Alphabet by 10.7% during the third quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock worth $1,037,196,000 after acquiring an additional 611,233 shares during the period. Finally, StoneCrest Wealth Management Inc. grew its holdings in shares of Alphabet by 0.7% during the 3rd quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock worth $3,567,000 after purchasing an additional 140 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Performance

GOOGL stock opened at $174.71 on Monday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm has a market cap of $2.14 trillion, a price-to-earnings ratio of 23.17, a PEG ratio of 1.24 and a beta of 1.01. The business’s fifty day simple moving average is $169.51 and its two-hundred day simple moving average is $170.20. Alphabet Inc. has a twelve month low of $129.68 and a twelve month high of $191.75.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter last year, the firm posted $1.55 EPS. Analysts predict that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 9th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, December 9th. Alphabet’s payout ratio is 10.61%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GOOGL. Morgan Stanley raised their price objective on Alphabet from $190.00 to $205.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. JMP Securities boosted their target price on shares of Alphabet from $200.00 to $220.00 and gave the company a “market outperform” rating in a report on Wednesday, October 30th. Bank of America upped their target price on shares of Alphabet from $206.00 to $210.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Phillip Securities raised Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Seven equities research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and five have given a strong buy rating to the company’s stock. According to data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $205.90.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $160.63, for a total transaction of $3,614,175.00. Following the completion of the sale, the chief executive officer now directly owns 2,114,885 shares in the company, valued at approximately $339,713,977.55. The trade was a 1.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 2,835 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $151.53, for a total transaction of $429,587.55. Following the sale, the chief accounting officer now directly owns 29,182 shares in the company, valued at $4,421,948.46. This trade represents a 8.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 163,624 shares of company stock worth $27,803,730 over the last three months. Corporate insiders own 11.55% of the company’s stock.

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.