Patron Partners LLC Purchases 818 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Patron Partners LLC grew its position in Alphabet Inc. (NASDAQ:GOOGL) by 8.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,077 shares of the information services provider’s stock after buying an additional 818 shares during the quarter. Alphabet accounts for 1.1% of Patron Partners LLC’s holdings, making the stock its 18th largest holding. Patron Partners LLC’s holdings in Alphabet were worth $2,097,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. International Assets Investment Management LLC increased its holdings in shares of Alphabet by 43,005.6% in the 3rd quarter. International Assets Investment Management LLC now owns 18,743,594 shares of the information services provider’s stock valued at $31,086,250,000 after acquiring an additional 18,700,111 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Alphabet by 116.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 8,670,225 shares of the information services provider’s stock valued at $1,437,957,000 after buying an additional 4,662,809 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Alphabet by 7.7% in 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 buying an additional 4,567,275 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Alphabet during the 3rd quarter worth approximately $513,024,000. Finally, Geode Capital Management LLC lifted its position in 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 valued at $22,154,651,000 after acquiring an additional 2,626,431 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the topic of several recent analyst reports. KeyCorp upped their target price on Alphabet from $215.00 to $225.00 and gave the company an “overweight” rating in a research report on Friday, January 10th. Needham & Company LLC reiterated a “buy” rating and issued a $225.00 target price on shares of Alphabet in a research note on Wednesday, February 5th. Citizens Jmp lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Cantor Fitzgerald lowered their price objective on shares of Alphabet from $215.00 to $210.00 and set a “neutral” rating for the company in a research note on Wednesday, January 22nd. Finally, Royal Bank of Canada boosted their price objective on shares of Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Ten analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $210.62.

Alphabet Price Performance

GOOGL stock opened at $183.61 on Thursday. The business’s fifty day moving average price is $192.18 and its 200 day moving average price is $174.89. Alphabet Inc. has a 12-month low of $130.66 and a 12-month high of $207.05. The company has a market capitalization of $2.25 trillion, a PE ratio of 22.81, a P/E/G ratio of 1.39 and a beta of 0.99. The company has a current ratio of 1.84, a quick ratio of 1.95 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (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 anticipate that Alphabet Inc. will post 8.91 EPS for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend payout ratio is currently 9.94%.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 1,340 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total transaction of $270,787.20. Following the completion of the transaction, the chief accounting officer now owns 17,848 shares in the company, valued at $3,606,723.84. The trade was a 6.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John Kent Walker sold 16,820 shares of the firm’s 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 in the company, valued at approximately $8,471,620.22. This represents a 27.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 89,529 shares of company stock worth $16,600,078. 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.