Illumine Investment Management LLC Invests $960,000 in Alphabet Inc. (NASDAQ:GOOGL)

Illumine Investment Management LLC bought a new position in Alphabet Inc. (NASDAQ:GOOGL) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 5,070 shares of the information services provider’s stock, valued at approximately $960,000.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp grew 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 valued at $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 3rd 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 during the period. JPMorgan Chase & Co. grew its holdings in 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 purchasing an additional 4,567,275 shares during the period. Fisher Asset Management LLC grew its holdings in Alphabet by 2.5% during the third 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 purchasing an additional 1,237,385 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Alphabet by 1.4% during the third 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 purchasing an additional 523,416 shares during the period. Institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

GOOGL has been the subject of several research reports. Bank of America reissued a “buy” rating and set a $210.00 price objective on shares of Alphabet in a report on Monday, December 23rd. The Goldman Sachs Group reissued a “buy” rating and set a $210.00 price objective on shares of Alphabet in a report on Thursday, December 12th. Piper Sandler reduced their price objective on Alphabet from $210.00 to $208.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. JPMorgan Chase & Co. reduced their price objective on Alphabet from $232.00 to $220.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Finally, Robert W. Baird reaffirmed an “outperform” rating and issued a $205.00 price objective on shares of Alphabet in a report on Tuesday, December 10th. Ten equities research 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $210.62.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $162.76 on Friday. The business has a 50 day moving average of $186.22 and a 200 day moving average of $176.39. The company has a market capitalization of $1.98 trillion, a price-to-earnings ratio of 20.22, a PEG ratio of 1.34 and a beta of 1.02. Alphabet Inc. has a 1-year low of $140.03 and a 1-year high of $207.05. 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 (NASDAQ:GOOGL) last released its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share 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%. On average, sell-side analysts predict that Alphabet Inc. will post 8.9 earnings per share 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 paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Insider Activity

In other news, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $165.53, for a total value of $33,106.00. Following the completion of the sale, the director now owns 7,813 shares of the company’s stock, valued at approximately $1,293,285.89. The trade was a 2.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kavitark Ram Shriram sold 29,066 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $184.89, for a total value of $5,374,012.74. Following the completion of the sale, the director now directly owns 272,466 shares of the company’s stock, valued at approximately $50,376,238.74. This trade represents a 9.64 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 95,882 shares of company stock valued at $17,934,130. 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.