Alphabet Inc. (NASDAQ:GOOGL) Position Raised by Hobbs Group Advisors LLC

Hobbs Group Advisors LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 50.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,946 shares of the information services provider’s stock after purchasing an additional 3,987 shares during the period. Alphabet makes up 0.8% of Hobbs Group Advisors LLC’s portfolio, making the stock its 24th biggest holding. Hobbs Group Advisors LLC’s holdings in Alphabet were worth $2,261,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in GOOGL. State Street Corp boosted its stake in Alphabet by 0.3% in 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 grew its stake in Alphabet by 2.0% in the third quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock valued at $22,154,651,000 after purchasing an additional 2,626,431 shares in the last quarter. Norges Bank acquired a new position in Alphabet in the fourth quarter worth approximately $24,383,677,000. JPMorgan Chase & Co. increased its stake in shares of Alphabet by 7.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock worth $10,559,240,000 after purchasing an additional 4,567,275 shares during the last quarter. Finally, Fisher Asset Management LLC raised its holdings in Alphabet by 1.5% during the fourth 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 buying an additional 757,138 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Alphabet Stock Performance

GOOGL stock opened at $145.60 on Monday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a twelve month low of $145.38 and a twelve month high of $207.05. The business’s fifty day moving average is $175.15 and its 200-day moving average is $176.93. The company has a market cap 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 quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) 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%. Equities research analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

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

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 673 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total transaction of $104,537.09. Following the completion of the transaction, the chief accounting officer now directly owns 15,303 shares in the company, valued at approximately $2,377,014.99. This trade represents a 4.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $189.80, for a total value of $284,700.00. Following the completion of the sale, the director now owns 21,824 shares in the company, valued at $4,142,195.20. The trade was a 6.43 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 119,797 shares of company stock worth $21,089,470. Company insiders own 11.55% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Citizens Jmp cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Robert W. Baird restated an “outperform” rating and issued a $205.00 target price on shares of Alphabet in a research note on Tuesday, December 10th. Morgan Stanley decreased their price target on shares of Alphabet from $215.00 to $210.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Westpark Capital raised Alphabet to a “strong-buy” rating in a report on Tuesday, April 1st. Finally, Bank of America reissued a “buy” rating and issued a $210.00 target price on shares of Alphabet in a report on Monday, December 23rd. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and five have issued a strong buy rating to the company. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $209.13.

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.