Parthenon LLC Has $31.81 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Parthenon LLC lowered its stake in Alphabet Inc. (NASDAQ:GOOGL) by 0.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 168,012 shares of the information services provider’s stock after selling 240 shares during the quarter. Alphabet makes up approximately 3.8% of Parthenon LLC’s investment portfolio, making the stock its 6th largest position. Parthenon LLC’s holdings in Alphabet were worth $31,805,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in GOOGL. Schear Investment Advisers LLC raised its holdings in Alphabet by 17.0% in 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 buying an additional 4,905 shares during the last quarter. Landscape Capital Management L.L.C. raised its holdings in Alphabet by 27.9% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider’s stock valued at $4,192,000 after buying an additional 5,516 shares during the last quarter. abrdn plc raised its holdings in Alphabet by 10.7% in the 3rd quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock valued at $1,037,196,000 after buying an additional 611,233 shares during the last quarter. Olistico Wealth LLC raised its holdings in Alphabet by 9.1% in the 4th quarter. Olistico Wealth LLC now owns 8,981 shares of the information services provider’s stock valued at $1,700,000 after buying an additional 746 shares during the last quarter. Finally, Centaurus Financial Inc. raised its holdings in Alphabet by 22.9% in the 3rd quarter. Centaurus Financial Inc. now owns 61,540 shares of the information services provider’s stock valued at $10,206,000 after buying an additional 11,481 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Wells Fargo & Company raised their price objective on shares of Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Bank of America reiterated a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a report on Monday, December 23rd. JMP Securities reiterated a “market perform” rating on shares of Alphabet in a report on Wednesday, February 5th. Robert W. Baird restated an “outperform” rating and set a $205.00 price target on shares of Alphabet in a report on Tuesday, December 10th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $210.00 price target on shares of Alphabet in a report on Thursday, December 12th. Ten 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.com, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $210.62.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 2,834 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $197.55, for a total transaction of $559,856.70. Following the transaction, the chief accounting officer now directly owns 20,681 shares in the company, valued at approximately $4,085,531.55. This trade represents a 12.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $194.22, for a total value of $291,330.00. Following the transaction, the director now owns 23,324 shares in the company, valued at approximately $4,529,987.28. This trade represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 134,316 shares of company stock worth $25,062,887. Corporate insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

NASDAQ GOOGL opened at $167.01 on Tuesday. The company has a fifty day simple moving average of $190.02 and a 200 day simple moving average of $176.35. Alphabet Inc. has a 12-month low of $130.66 and a 12-month high of $207.05. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a market cap of $2.04 trillion, a P/E ratio of 20.75, a PEG ratio of 1.34 and a beta of 0.99.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating the consensus estimate 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 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

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.