Mcrae Capital Management Inc. Has $5.23 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Mcrae Capital Management Inc. grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 27,650 shares of the information services provider’s stock after buying an additional 810 shares during the period. Alphabet makes up 1.0% of Mcrae Capital Management Inc.’s investment portfolio, making the stock its 29th largest holding. Mcrae Capital Management Inc.’s holdings in Alphabet were worth $5,234,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of GOOGL. State Street Corp lifted its stake in 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 in the last quarter. Geode Capital Management LLC increased its position in shares of Alphabet by 2.0% during 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 purchasing an additional 2,626,431 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Alphabet by 7.7% during 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 purchasing an additional 4,567,275 shares during the last quarter. Fisher Asset Management LLC increased its holdings in 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 acquiring an additional 1,237,385 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Alphabet by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 37,233,079 shares of the information services provider’s stock worth $6,175,106,000 after acquiring an additional 523,416 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. reduced their target price on Alphabet from $232.00 to $220.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. BMO Capital Markets reiterated an “outperform” rating and set a $217.00 price target (up previously from $215.00) on shares of Alphabet in a research report on Wednesday, October 30th. Truist Financial boosted their target price on Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Wolfe Research boosted their price objective on Alphabet from $220.00 to $230.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Finally, Sanford C. Bernstein boosted 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. Ten equities 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 stock. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $210.62.

Alphabet Trading Down 0.2 %

Shares of NASDAQ:GOOGL opened at $179.25 on Tuesday. The company has a market cap of $2.19 trillion, a P/E ratio of 22.27, a PEG ratio of 1.34 and a beta of 0.99. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. Alphabet Inc. has a 1 year low of $130.66 and a 1 year high of $207.05. The stock’s fifty day moving average price is $192.12 and its 200-day moving average price is $176.05.

Alphabet (NASDAQ:GOOGL) last posted its earnings results 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 expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s dividend payout ratio is 9.94%.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 1,367 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $170.41, for a total transaction of $232,950.47. Following the completion of the sale, the chief accounting officer now owns 23,515 shares in the company, valued at approximately $4,007,191.15. This trade represents a 5.49 % 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, Director John L. Hennessy sold 1,500 shares of the stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $194.22, for a total value of $291,330.00. Following the sale, the director now owns 23,324 shares of the company’s stock, valued at $4,529,987.28. This represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 134,299 shares of company stock worth $25,055,751 over the last quarter. 11.55% of the stock is currently owned by corporate insiders.

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.