Newton One Investments LLC bought a new position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 401 shares of the information services provider’s stock, valued at approximately $76,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Welch Group LLC grew its holdings in Alphabet by 3.7% in the fourth quarter. Welch Group LLC now owns 59,438 shares of the information services provider’s stock valued at $11,367,000 after purchasing an additional 2,141 shares during the period. Brown Lisle Cummings Inc. grew its holdings in Alphabet by 2.1% in the fourth quarter. Brown Lisle Cummings Inc. now owns 49,510 shares of the information services provider’s stock valued at $9,372,000 after purchasing an additional 1,030 shares during the period. Robbins Farley grew its holdings in Alphabet by 3.1% in the fourth quarter. Robbins Farley now owns 19,202 shares of the information services provider’s stock valued at $3,635,000 after purchasing an additional 581 shares during the period. Commonwealth Financial Services LLC grew its holdings in Alphabet by 109.7% in the fourth quarter. Commonwealth Financial Services LLC now owns 7,580 shares of the information services provider’s stock valued at $1,435,000 after purchasing an additional 3,966 shares during the period. Finally, Tempus Wealth Planning LLC grew its holdings in Alphabet by 14.4% in the fourth quarter. Tempus Wealth Planning LLC now owns 15,193 shares of the information services provider’s stock valued at $2,876,000 after purchasing an additional 1,911 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at Alphabet
In related news, CAO Amie Thuener O’toole sold 1,340 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $202.08, for a total value of $270,787.20. Following the completion of the transaction, the chief accounting officer now owns 17,848 shares in the company, valued at $3,606,723.84. This represents a 6.98 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the completion of the transaction, the chief executive officer now owns 2,061,806 shares of the company’s stock, valued at $364,259,266.02. This represents a 1.08 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 89,529 shares of company stock worth $16,600,078. Insiders own 11.55% of the company’s stock.
Alphabet Stock Up 1.4 %
Alphabet (NASDAQ:GOOGL – Get Free Report) last released its quarterly 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 net margin of 28.60% and a return on equity of 32.49%. Equities analysts anticipate that Alphabet Inc. will post 8.91 EPS for the current year.
Alphabet Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.43%. Alphabet’s dividend payout ratio is currently 9.94%.
Analysts Set New Price Targets
A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. lowered their target price on shares of Alphabet from $232.00 to $220.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. DA Davidson boosted their price objective on shares of Alphabet from $190.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. Wells Fargo & Company boosted their price objective on shares of Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. BMO Capital Markets reissued an “outperform” rating and set a $217.00 target price (up from $215.00) on shares of Alphabet in a research report on Wednesday, October 30th. Finally, Robert W. Baird reissued an “outperform” rating and set a $205.00 target price on shares of Alphabet in a research report on Tuesday, December 10th. 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 company presently has a consensus rating of “Moderate Buy” and an average target price of $210.62.
Read Our Latest Report on GOOGL
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.
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