Alphabet Inc. (NASDAQ:GOOGL) Stake Raised by Convergence Investment Partners LLC

Convergence Investment Partners LLC raised its stake in Alphabet Inc. (NASDAQ:GOOGL) by 39.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 60,806 shares of the information services provider’s stock after acquiring an additional 17,293 shares during the period. Alphabet makes up 2.6% of Convergence Investment Partners LLC’s portfolio, making the stock its 2nd biggest position. Convergence Investment Partners LLC’s holdings in Alphabet were worth $11,511,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of GOOGL. International Assets Investment Management LLC boosted its position in shares of Alphabet by 43,005.6% during the third 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 buying an additional 18,700,111 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Alphabet by 116.4% during the third 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 during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Alphabet by 7.7% during the third quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock valued at $10,559,240,000 after buying an additional 4,567,275 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Alphabet during the third quarter valued at $513,024,000. Finally, Geode Capital Management LLC boosted its position 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 valued at $22,154,651,000 after buying an additional 2,626,431 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 1,374 shares of Alphabet stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $173.47, for a total value of $238,347.78. Following the completion of the transaction, the chief accounting officer now owns 15,024 shares in the company, valued at approximately $2,606,213.28. The trade was a 8.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ruth Porat sold 17,690 shares of Alphabet stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $183.48, for a total value of $3,245,761.20. Following the completion of the transaction, the insider now owns 1,449,286 shares of the company’s stock, valued at approximately $265,914,995.28. This trade represents a 1.21 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 134,316 shares of company stock worth $25,062,887. 11.55% of the stock is currently owned by company insiders.

Alphabet Stock Performance

NASDAQ GOOGL opened at $167.01 on Tuesday. The stock has a market capitalization of $2.04 trillion, a PE ratio of 20.75, a P/E/G ratio of 1.34 and a beta of 0.99. The business has a 50 day simple moving average of $190.02 and a two-hundred day simple moving average of $176.35. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. Alphabet Inc. has a 1-year low of $130.66 and a 1-year high of $207.05.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. On average, research analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders 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 dividend yield of 0.48%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is 9.94%.

Analyst Ratings Changes

GOOGL has been the topic of a number of recent research reports. Citigroup lowered their target price on Alphabet from $232.00 to $229.00 and set a “buy” rating on the stock in a report on Wednesday, February 5th. The Goldman Sachs Group reissued a “buy” rating and issued a $210.00 target price on shares of Alphabet in a report on Thursday, December 12th. 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. Wolfe Research increased their target price on Alphabet from $220.00 to $230.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Finally, KeyCorp increased 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. Ten analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $210.62.

Alphabet 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.