Alphabet Inc. (NASDAQ:GOOGL) Stake Raised by Silicon Valley Capital Partners

Silicon Valley Capital Partners raised its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 29.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 249,689 shares of the information services provider’s stock after buying an additional 57,034 shares during the quarter. Alphabet comprises about 5.3% of Silicon Valley Capital Partners’ investment portfolio, making the stock its 6th biggest position. Silicon Valley Capital Partners’ holdings in Alphabet were worth $47,266,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of GOOGL. State Street Corp grew its position in shares of Alphabet by 0.3% in the third quarter. State Street Corp now owns 222,555,548 shares of the information services provider’s stock valued at $36,910,838,000 after purchasing an additional 743,369 shares during the period. 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 worth $22,154,651,000 after buying an additional 2,626,431 shares during the period. JPMorgan Chase & Co. boosted its stake 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 worth $10,559,240,000 after buying an additional 4,567,275 shares during the last quarter. Fisher Asset Management LLC grew its holdings in Alphabet by 2.5% in the 3rd quarter. Fisher Asset Management LLC now owns 49,857,900 shares of the information services provider’s stock valued at $8,268,933,000 after buying an additional 1,237,385 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Alphabet by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 37,233,079 shares of the information services provider’s stock valued at $6,175,106,000 after acquiring an additional 523,416 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total transaction of $232,950.47. Following the completion of the transaction, the chief accounting officer now directly owns 23,515 shares of the company’s stock, valued at approximately $4,007,191.15. This represents a 5.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Kent Walker sold 17,690 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $185.51, for a total value of $3,281,671.90. Following the completion of the sale, the insider now directly owns 43,111 shares in the company, valued at approximately $7,997,521.61. This trade represents a 29.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 116,609 shares of company stock worth $21,809,990 over the last 90 days. Insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

Shares of Alphabet stock opened at $184.56 on Friday. The firm has a market cap of $2.25 trillion, a PE ratio of 22.93, a price-to-earnings-growth ratio of 1.34 and a beta of 0.99. Alphabet Inc. has a 1 year low of $130.66 and a 1 year high of $207.05. The firm’s 50-day simple moving average is $192.67 and its 200-day simple moving average is $175.55. 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 released 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 return on equity of 32.49% and a net margin of 28.60%. Equities analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s dividend payout ratio is presently 9.94%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Roth Mkm boosted their target price on shares of Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Bank of America reiterated a “buy” rating and issued a $210.00 price target on shares of Alphabet in a report on Monday, December 23rd. Royal Bank of Canada upped their price objective on Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. KeyCorp lifted their target price on Alphabet from $215.00 to $225.00 and gave the company an “overweight” rating in a report on Friday, January 10th. Finally, JPMorgan Chase & Co. lowered their price target on Alphabet from $232.00 to $220.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Ten 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. Based on data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $210.62.

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.