Mindset Wealth Management LLC boosted its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 11.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 14,893 shares of the information services provider’s stock after buying an additional 1,571 shares during the period. Alphabet accounts for approximately 1.0% of Mindset Wealth Management LLC’s holdings, making the stock its 5th largest position. Mindset Wealth Management LLC’s holdings in Alphabet were worth $2,819,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in GOOGL. State Street Corp increased its stake 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 buying an additional 743,369 shares during the period. Geode Capital Management LLC boosted its holdings in Alphabet by 2.0% in 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. JPMorgan Chase & Co. increased 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 valued at $10,559,240,000 after purchasing an additional 4,567,275 shares during the period. Fisher Asset Management LLC raised its holdings 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. lifted its position in shares of Alphabet by 3.3% in 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 period. 40.03% of the stock is currently owned by institutional investors and hedge funds.
Alphabet Stock Performance
NASDAQ GOOGL opened at $157.07 on Wednesday. The company has a fifty day moving average price of $178.01 and a 200-day moving average price of $177.09. The firm has a market cap of $1.91 trillion, a price-to-earnings ratio of 19.51, a PEG ratio of 1.34 and a beta of 1.02. 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 $147.22 and a 1 year high of $207.05.
Alphabet (NASDAQ:GOOGL – Get Free Report) last issued its quarterly earnings data 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%. As a group, equities research analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.
Alphabet Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.51%. The ex-dividend date was Monday, March 10th. Alphabet’s dividend payout ratio is presently 9.94%.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on GOOGL shares. Bank of America reiterated a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research report on Monday, December 23rd. KeyCorp decreased their price target on Alphabet from $220.00 to $202.00 and set an “overweight” rating for the company in a report on Tuesday, March 18th. DZ Bank lowered Alphabet from a “buy” rating to a “hold” rating and set a $198.00 price objective for the company. in a research report on Thursday, February 6th. Wedbush upped their target price on Alphabet from $210.00 to $220.00 and gave the company an “outperform” rating in a research report on Monday, January 6th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and set a $205.00 target price on shares of Alphabet in a research note on Wednesday, March 19th. 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 company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $209.49.
Read Our Latest Stock Report on GOOGL
Insider Activity at Alphabet
In other Alphabet news, CAO Amie Thuener O’toole sold 1,368 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $191.55, for a total value of $262,040.40. Following the completion of the transaction, the chief accounting officer now owns 20,681 shares in the company, valued at $3,961,445.55. This represents a 6.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Kent Walker sold 11,764 shares of the firm’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $166.84, for a total value of $1,962,705.76. Following the sale, the insider now directly owns 49,037 shares of the company’s stock, valued at approximately $8,181,333.08. This represents a 19.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 88,665 shares of company stock valued at $16,198,310. 11.55% of the stock is owned by insiders.
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.
Featured Stories
Want to see what other hedge funds are holding GOOGL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alphabet Inc. (NASDAQ:GOOGL – Free Report).
Receive News & Ratings for Alphabet Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Alphabet and related companies with MarketBeat.com’s FREE daily email newsletter.
