Alphabet Inc. (NASDAQ:GOOGL) is Stoneridge Investment Partners LLC’s 10th Largest Position

Stoneridge Investment Partners LLC decreased its position in Alphabet Inc. (NASDAQ:GOOGL) by 0.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,411 shares of the information services provider’s stock after selling 100 shares during the quarter. Alphabet makes up 2.5% of Stoneridge Investment Partners LLC’s investment portfolio, making the stock its 10th largest position. Stoneridge Investment Partners LLC’s holdings in Alphabet were worth $7,082,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Shikiar Asset Management Inc. purchased a new position in Alphabet during the 3rd quarter valued at $343,000. Shira Ridge Wealth Management boosted its stake in shares of Alphabet by 6.4% during the 3rd quarter. Shira Ridge Wealth Management now owns 6,006 shares of the information services provider’s stock valued at $996,000 after purchasing an additional 362 shares in the last quarter. Crestmont Private Wealth LLC increased its position in shares of Alphabet by 7.5% during the third quarter. Crestmont Private Wealth LLC now owns 4,557 shares of the information services provider’s stock valued at $756,000 after buying an additional 317 shares during the period. McGlone Suttner Wealth Management Inc. raised its stake in Alphabet by 10.3% in the third quarter. McGlone Suttner Wealth Management Inc. now owns 18,031 shares of the information services provider’s stock worth $2,990,000 after buying an additional 1,680 shares in the last quarter. Finally, Willner & Heller LLC lifted its holdings in Alphabet by 2.2% in the third quarter. Willner & Heller LLC now owns 10,890 shares of the information services provider’s stock worth $1,806,000 after buying an additional 231 shares during the period. 40.03% of the stock is owned by institutional investors.

Alphabet Price Performance

NASDAQ GOOGL opened at $183.77 on Wednesday. The business’s fifty day moving average is $193.05 and its 200 day moving average is $175.30. Alphabet Inc. has a fifty-two week low of $130.66 and a fifty-two week high of $207.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.95 and a current ratio of 1.84. The company has a market capitalization of $2.25 trillion, a PE ratio of 22.83, a price-to-earnings-growth ratio of 1.39 and a beta of 0.99.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Sell-side analysts predict that Alphabet Inc. will post 8.91 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be given a $0.20 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.44%. Alphabet’s payout ratio is currently 9.94%.

Insider Transactions at Alphabet

In related news, Director Kavitark Ram Shriram sold 37,134 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the completion of the sale, the director now owns 282,832 shares in the company, valued at approximately $52,329,576.64. This trade represents a 11.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,340 shares of Alphabet stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total value of $270,787.20. Following the sale, the chief accounting officer now directly owns 17,848 shares in the company, valued at $3,606,723.84. This trade represents a 6.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 67,029 shares of company stock valued at $12,625,003 over the last three months. Corporate insiders own 11.55% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GOOGL. Royal Bank of Canada increased their target price on Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Sanford C. Bernstein raised their price objective on Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a research report on Wednesday, October 30th. Pivotal Research boosted their target price on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. China Renaissance upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Finally, Bank of America reissued a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research note on Monday, December 23rd. Ten equities research 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 company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $210.62.

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.