Alphabet Inc. (NASDAQ:GOOGL) Position Cut by Hoertkorn Richard Charles

Hoertkorn Richard Charles lowered its position in Alphabet Inc. (NASDAQ:GOOGL) by 2.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 75,464 shares of the information services provider’s stock after selling 1,510 shares during the quarter. Alphabet makes up approximately 5.9% of Hoertkorn Richard Charles’ portfolio, making the stock its 5th biggest position. Hoertkorn Richard Charles’ holdings in Alphabet were worth $14,285,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. State Street Corp boosted its stake in Alphabet by 0.3% during the 3rd quarter. State Street Corp now owns 222,555,548 shares of the information services provider’s stock worth $36,910,838,000 after purchasing an additional 743,369 shares during the period. Geode Capital Management LLC boosted its stake in shares of Alphabet by 2.0% during the third quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock worth $22,154,651,000 after buying an additional 2,626,431 shares during the period. Norges Bank purchased a new position in shares of Alphabet during the fourth quarter worth about $24,383,677,000. JPMorgan Chase & Co. increased its position in Alphabet by 7.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock valued at $10,559,240,000 after acquiring an additional 4,567,275 shares during the period. Finally, Fisher Asset Management LLC raised its stake in Alphabet by 1.5% during the 4th quarter. Fisher Asset Management LLC now owns 50,615,038 shares of the information services provider’s stock valued at $9,581,427,000 after acquiring an additional 757,138 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on GOOGL. Wedbush boosted their target price on Alphabet from $210.00 to $220.00 and gave the company an “outperform” rating in a report on Monday, January 6th. JMP Securities restated a “market perform” rating on shares of Alphabet in a research report on Wednesday, February 5th. Citizens Jmp downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. JPMorgan Chase & Co. cut their price target on shares of Alphabet from $232.00 to $220.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $220.00 price objective on shares of Alphabet in a report on Wednesday, March 19th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $209.13.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the transaction, the chief executive officer now directly owns 2,717,696 shares of the company’s stock, valued at $430,917,877.76. This trade represents a 1.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 673 shares of the business’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total value of $104,537.09. Following the transaction, the chief accounting officer now owns 15,303 shares in the company, valued at approximately $2,377,014.99. This represents a 4.21 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 119,797 shares of company stock valued at $21,089,470. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Price Performance

GOOGL opened at $145.60 on Monday. Alphabet Inc. has a 1 year low of $145.38 and a 1 year high of $207.05. The company’s 50 day simple moving average is $175.15 and its 200 day simple moving average is $176.93. The stock has a market capitalization of $1.77 trillion, a PE ratio of 18.09, a P/E/G ratio of 1.34 and a beta of 1.03. 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 (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate 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, sell-side analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date was Monday, March 10th. Alphabet’s payout ratio is currently 9.94%.

Alphabet Company 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.