Alerus Financial NA Has $23.41 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Alerus Financial NA lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 6.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 123,639 shares of the information services provider’s stock after selling 8,776 shares during the quarter. Alphabet accounts for approximately 1.8% of Alerus Financial NA’s holdings, making the stock its 13th largest holding. Alerus Financial NA’s holdings in Alphabet were worth $23,405,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Principal Financial Group Inc. raised its holdings in shares of Alphabet by 3.1% during the third quarter. Principal Financial Group Inc. now owns 11,283,594 shares of the information services provider’s stock worth $1,871,384,000 after acquiring an additional 337,031 shares during the period. WESPAC Advisors LLC increased its holdings in Alphabet by 1.9% during the 3rd quarter. WESPAC Advisors LLC now owns 11,817 shares of the information services provider’s stock worth $1,960,000 after purchasing an additional 223 shares in the last quarter. StoneX Group Inc. raised its stake in shares of Alphabet by 20.3% in the 3rd quarter. StoneX Group Inc. now owns 37,725 shares of the information services provider’s stock valued at $6,257,000 after purchasing an additional 6,372 shares during the period. Family Capital Management Inc. lifted its holdings in shares of Alphabet by 1.8% in the third quarter. Family Capital Management Inc. now owns 6,950 shares of the information services provider’s stock valued at $1,153,000 after purchasing an additional 125 shares in the last quarter. Finally, Wescott Financial Advisory Group LLC boosted its position in shares of Alphabet by 5.4% during the third quarter. Wescott Financial Advisory Group LLC now owns 3,871 shares of the information services provider’s stock worth $642,000 after buying an additional 200 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the transaction, the chief executive officer now directly owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. This represents a 1.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction on Monday, January 13th. The shares were sold at an average price of $189.80, for a total transaction of $284,700.00. Following the completion of the sale, the director now owns 21,824 shares of the company’s stock, valued at $4,142,195.20. This represents a 6.43 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 119,797 shares of company stock worth $21,089,470. Company insiders own 11.55% of the company’s stock.

Alphabet Stock Down 3.4 %

GOOGL stock opened at $145.60 on Monday. The firm has a 50-day moving average price of $175.15 and a 200-day moving average price of $176.93. Alphabet Inc. has a 12 month low of $145.38 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 stock has a market capitalization of $1.77 trillion, a P/E ratio of 18.09, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last issued 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 net margin of 28.60% and a return on equity of 32.49%. As a group, equities research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were given 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 yield of 0.55%. Alphabet’s dividend payout ratio is presently 9.94%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GOOGL. Cantor Fitzgerald reissued a “neutral” rating and issued a $200.00 target price on shares of Alphabet in a research report on Wednesday, March 19th. Stifel Nicolaus increased their target price on shares of Alphabet from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, January 13th. JMP Securities reiterated a “market perform” rating on shares of Alphabet in a research note on Wednesday, February 5th. KeyCorp reduced their price objective on shares of Alphabet from $220.00 to $202.00 and set an “overweight” rating for the company in a research note on Tuesday, March 18th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research report on Thursday, December 12th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and five have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $209.13.

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.