Parker Investment Management LLC Has $58.58 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Parker Investment Management LLC grew its position in Alphabet Inc. (NASDAQ:GOOGL) by 39.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 309,437 shares of the information services provider’s stock after acquiring an additional 87,676 shares during the period. Alphabet accounts for approximately 9.1% of Parker Investment Management LLC’s investment portfolio, making the stock its 6th biggest position. Parker Investment Management LLC’s holdings in Alphabet were worth $58,577,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of GOOGL. State Street Corp raised its position in Alphabet by 0.3% during 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 last quarter. Geode Capital Management LLC raised its position in Alphabet by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock worth $22,154,651,000 after purchasing an additional 2,626,431 shares during the last quarter. JPMorgan Chase & Co. raised its position in 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. Fisher Asset Management LLC raised its position in Alphabet by 1.5% during the 4th quarter. Fisher Asset Management LLC now owns 50,615,038 shares of the information services provider’s stock worth $9,581,427,000 after purchasing an additional 757,138 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Alphabet by 3.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 38,451,718 shares of the information services provider’s stock worth $7,278,910,000 after purchasing an additional 1,218,639 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Alphabet Price Performance

Alphabet stock opened at $163.99 on Friday. Alphabet Inc. has a 52 week low of $147.22 and a 52 week high of $207.05. The company’s 50 day moving average price is $182.57 and its two-hundred day moving average price is $176.51. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock has a market cap of $2.00 trillion, a P/E ratio of 20.37, a P/E/G ratio of 1.34 and a beta of 1.02.

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

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. Alphabet’s dividend payout ratio is currently 9.94%.

Insider Buying and Selling

In related news, insider Ruth Porat sold 17,690 shares of Alphabet stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $183.48, for a total value of $3,245,761.20. Following the sale, the insider now owns 1,449,286 shares of the company’s stock, valued at approximately $265,914,995.28. The trade was a 1.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total transaction of $33,106.00. Following the completion of the sale, the director now directly owns 7,813 shares in the company, valued at $1,293,285.89. This trade represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 93,048 shares of company stock valued at $17,374,274. 11.55% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on GOOGL shares. Stifel Nicolaus lifted their price objective on Alphabet from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. KeyCorp lowered their price objective on Alphabet from $220.00 to $202.00 and set an “overweight” rating for the company in a research report on Tuesday, March 18th. DA Davidson lifted their price objective on Alphabet from $190.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. The Goldman Sachs Group reissued a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a research report on Thursday, December 12th. Finally, Robert W. Baird reissued an “outperform” rating and issued a $205.00 price objective on shares of Alphabet in a research report on Tuesday, December 10th. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $210.59.

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.