New England Research & Management Inc. lifted its stake in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 17.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 45,421 shares of the information services provider’s stock after purchasing an additional 6,653 shares during the quarter. Alphabet accounts for about 4.4% of New England Research & Management Inc.’s holdings, making the stock its 2nd largest position. New England Research & Management Inc.’s holdings in Alphabet were worth $8,598,000 as of its most recent filing with the SEC.
A number of other institutional investors have also added to or reduced their stakes in GOOGL. State Street Corp boosted its position in shares of Alphabet by 0.3% during the 3rd quarter. State Street Corp now owns 222,555,548 shares of the information services provider’s stock valued at $36,910,838,000 after acquiring an additional 743,369 shares during the last quarter. Geode Capital Management LLC lifted its position in Alphabet by 2.0% during the third 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 purchasing an additional 2,626,431 shares during the last quarter. JPMorgan Chase & Co. grew 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 worth $10,559,240,000 after buying an additional 4,567,275 shares in the last quarter. Fisher Asset Management LLC increased its holdings in shares of Alphabet by 2.5% in the 3rd quarter. Fisher Asset Management LLC now owns 49,857,900 shares of the information services provider’s stock worth $8,268,933,000 after buying an additional 1,237,385 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Alphabet by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 37,233,079 shares of the information services provider’s stock valued at $6,175,106,000 after buying an additional 523,416 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on GOOGL shares. Morgan Stanley cut their target price on shares of Alphabet from $215.00 to $210.00 and set an “overweight” rating for the company in a research report on Wednesday. Stifel Nicolaus increased their price objective on Alphabet from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Loop Capital boosted their target price on Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. BMO Capital Markets reiterated an “outperform” rating and set a $217.00 price target (up from $215.00) on shares of Alphabet in a research report on Wednesday, October 30th. Finally, Bank of America reissued a “buy” rating and set a $210.00 price target on shares of Alphabet in a research note on Monday, December 23rd. Ten analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $210.62.
Alphabet Stock Up 0.1 %
Shares of NASDAQ:GOOGL opened at $191.60 on Friday. Alphabet Inc. has a 12-month low of $130.66 and a 12-month high of $207.05. The stock has a market capitalization of $2.35 trillion, a price-to-earnings ratio of 25.41, a PEG ratio of 1.31 and a beta of 0.99. The stock has a fifty day simple moving average of $190.83 and a two-hundred day simple moving average of $174.52. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04.
Alphabet (NASDAQ:GOOGL – Get Free Report) 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 analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. On average, research analysts anticipate that Alphabet Inc. will post 8.02 earnings per share for the current fiscal year.
Alphabet Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.42%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is currently 9.94%.
Insider Buying and Selling
In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $170.41, for a total value of $232,950.47. Following the completion of the transaction, the chief accounting officer now owns 23,515 shares of the company’s stock, valued at approximately $4,007,191.15. The trade was a 5.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 16,820 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 43,981 shares in the company, valued at approximately $8,471,620.22. The trade was a 27.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 89,529 shares of company stock worth $16,600,078 in the last three months. Insiders own 11.55% of the company’s stock.
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.
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