King Luther Capital Management Corp Has $497.07 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

King Luther Capital Management Corp cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,625,845 shares of the information services provider’s stock after selling 10,923 shares during the quarter. Alphabet makes up about 2.2% of King Luther Capital Management Corp’s portfolio, making the stock its 6th largest position. King Luther Capital Management Corp’s holdings in Alphabet were worth $497,073,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also bought and sold shares of the stock. Schear Investment Advisers LLC raised its position in shares of Alphabet by 17.0% during the third quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock worth $5,598,000 after purchasing an additional 4,905 shares during the period. Permanent Capital Management LP bought a new stake in Alphabet during the 4th quarter valued at $273,000. Landscape Capital Management L.L.C. raised its holdings in Alphabet by 27.9% during the third quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider’s stock worth $4,192,000 after buying an additional 5,516 shares during the last quarter. Glass Wealth Management Co LLC lifted its stake in shares of Alphabet by 4.5% in the fourth quarter. Glass Wealth Management Co LLC now owns 37,054 shares of the information services provider’s stock valued at $7,014,000 after buying an additional 1,580 shares in the last quarter. Finally, Olistico Wealth LLC grew its holdings in shares of Alphabet by 9.1% during the fourth 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. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Up 0.7 %

Alphabet stock opened at $163.99 on Monday. The firm has a market capitalization of $2.00 trillion, a price-to-earnings ratio of 20.37, a P/E/G ratio of 1.34 and a beta of 1.02. The firm has a 50 day simple moving average of $182.57 and a 200 day simple moving average of $176.65. Alphabet Inc. has a 1-year low of $147.22 and a 1-year 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.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results 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%. On average, analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

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

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of analyst reports. Citizens Jmp lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. DA Davidson boosted their price objective on Alphabet from $190.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. Roth Mkm restated a “buy” rating and issued a $220.00 target price on shares of Alphabet in a report on Wednesday, March 19th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $200.00 target price on shares of Alphabet in a research report on Wednesday, March 19th. Finally, Wells Fargo & Company increased their price target on Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Ten 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’s stock. Based on data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $210.59.

Insider Transactions at Alphabet

In related news, insider Ruth Porat sold 17,690 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the completion of the transaction, the insider now directly owns 1,449,286 shares in the company, valued at $265,914,995.28. The trade was a 1.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,368 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total value of $262,040.40. Following the completion of the sale, the chief accounting officer now directly owns 20,681 shares in the company, valued at approximately $3,961,445.55. The trade was a 6.20 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 93,048 shares of company stock valued at $17,374,274. 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.