Connor Clark & Lunn Investment Management Ltd. lowered its stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 4.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 225,805 shares of the information services provider’s stock after selling 10,397 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Alphabet were worth $42,745,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Compass Planning Associates Inc acquired a new stake in Alphabet in the 4th quarter valued at approximately $30,000. LMR Partners LLP acquired a new stake in shares of Alphabet in the third quarter valued at approximately $32,000. E Fund Management Hong Kong Co. Ltd. lifted its position in shares of Alphabet by 518.8% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock worth $37,000 after purchasing an additional 166 shares in the last quarter. Fiduciary Advisors Inc. acquired a new position in Alphabet during the fourth quarter worth $39,000. Finally, PayPay Securities Corp grew its position in Alphabet by 36.1% in the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after purchasing an additional 65 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts have commented on the stock. DA Davidson boosted their price target on shares of Alphabet from $190.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. DZ Bank cut Alphabet from a “buy” rating to a “hold” rating and set a $198.00 price target for the company. in a research report on Thursday, February 6th. Stifel Nicolaus boosted their price target on Alphabet from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Bank of America reissued a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a report on Monday, December 23rd. Finally, Rosenblatt Securities restated a “neutral” rating and set a $205.00 target price on shares of Alphabet in a report on Wednesday, March 19th. Ten research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $210.59.
Alphabet Price Performance
Alphabet stock opened at $167.68 on Tuesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. Alphabet Inc. has a 52 week low of $147.22 and a 52 week high of $207.05. The stock has a market capitalization of $2.04 trillion, a P/E ratio of 20.83, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02. The stock has a fifty day moving average of $182.10 and a 200-day moving average of $176.73.
Alphabet (NASDAQ:GOOGL – Get Free Report) last posted its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. On average, sell-side analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
Alphabet Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders 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 dividend on an annualized basis and a dividend yield of 0.48%. Alphabet’s payout ratio is presently 9.94%.
Insider Transactions at Alphabet
In other news, CAO Amie Thuener O’toole sold 1,368 shares of Alphabet stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total transaction 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. The trade was a 6.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Kent Walker sold 16,820 shares of the stock in a transaction on Monday, December 30th. The shares were sold at an average price of $192.62, for a total value of $3,239,868.40. Following the completion of the sale, the insider now owns 43,981 shares of the company’s stock, valued at $8,471,620.22. The trade was a 27.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 93,048 shares of company stock worth $17,374,274. Corporate insiders own 11.55% of the company’s stock.
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.
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