Freestone Capital Holdings LLC Grows Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Freestone Capital Holdings LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.7% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 262,704 shares of the information services provider’s stock after purchasing an additional 1,705 shares during the quarter. Alphabet makes up approximately 1.7% of Freestone Capital Holdings LLC’s holdings, making the stock its 12th biggest position. Freestone Capital Holdings LLC’s holdings in Alphabet were worth $49,730,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Compass Planning Associates Inc purchased a new stake in Alphabet in the 4th quarter worth approximately $30,000. LMR Partners LLP purchased a new stake in Alphabet in the 3rd quarter worth approximately $32,000. E Fund Management Hong Kong Co. Ltd. increased its holdings in Alphabet by 518.8% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock worth $37,000 after acquiring an additional 166 shares in the last quarter. Fiduciary Advisors Inc. purchased a new stake in Alphabet in the 4th quarter worth approximately $39,000. Finally, PayPay Securities Corp increased its holdings in Alphabet by 36.1% in the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after acquiring an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Activity

In other news, insider John Kent Walker sold 16,820 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the transaction, the insider now owns 43,981 shares in the company, valued at approximately $8,471,620.22. This trade represents a 27.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 1,368 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total value of $262,040.40. Following the transaction, the chief accounting officer now owns 20,681 shares in the company, valued at approximately $3,961,445.55. This represents a 6.20 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 93,048 shares of company stock worth $17,374,274. Company insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

GOOGL stock opened at $163.89 on Thursday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The business’s fifty day simple moving average is $183.75 and its two-hundred day simple moving average is $176.47. Alphabet Inc. has a twelve month low of $146.74 and a twelve month high of $207.05. The firm has a market cap of $2.00 trillion, a price-to-earnings ratio of 20.36, a PEG ratio of 1.34 and a beta of 1.02.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping 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%. Analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. Alphabet’s dividend payout ratio is currently 9.94%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Citizens Jmp lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. The Goldman Sachs Group reissued a “buy” rating and issued a $210.00 target price on shares of Alphabet in a report on Thursday, December 12th. Morgan Stanley cut their price objective on shares of Alphabet from $215.00 to $210.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Piper Sandler cut their price objective on shares of Alphabet from $210.00 to $208.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Finally, KeyCorp cut their price objective on shares of Alphabet from $220.00 to $202.00 and set an “overweight” rating for the company in a report on Tuesday. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $210.59.

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.