Noble Wealth Management PBC bought a new stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 4,127 shares of the information services provider’s stock, valued at approximately $781,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bennett Selby Investments LP increased its position in Alphabet by 4.0% during the fourth quarter. Bennett Selby Investments LP now owns 1,354 shares of the information services provider’s stock valued at $256,000 after acquiring an additional 52 shares during the last quarter. Macroview Investment Management LLC grew its holdings in shares of Alphabet by 4.2% in the fourth quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider’s stock worth $245,000 after purchasing an additional 52 shares during the last quarter. Conrad Siegel Investment Advisors Inc. lifted its stake in Alphabet by 0.5% in the fourth quarter. Conrad Siegel Investment Advisors Inc. now owns 9,845 shares of the information services provider’s stock worth $1,864,000 after acquiring an additional 53 shares during the period. Cornerstone Planning Group LLC lifted its stake in Alphabet by 2.3% in the fourth quarter. Cornerstone Planning Group LLC now owns 2,381 shares of the information services provider’s stock worth $457,000 after acquiring an additional 53 shares during the period. Finally, Addison Advisors LLC lifted its stake in Alphabet by 0.7% in the fourth quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider’s stock worth $1,425,000 after acquiring an additional 53 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.
Alphabet Price Performance
GOOGL stock opened at $165.49 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $2.02 trillion, a PE ratio of 20.56, a P/E/G ratio of 1.34 and a beta of 1.02. Alphabet Inc. has a 12-month low of $140.03 and a 12-month high of $207.05. The business’s fifty day moving average price is $185.70 and its 200 day moving average price is $176.38.
Alphabet (NASDAQ:GOOGL – Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) 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, sell-side analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.
Alphabet Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.48%. Alphabet’s payout ratio is 9.94%.
Analysts Set New Price Targets
GOOGL has been the subject of several analyst reports. Citizens Jmp lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. DZ Bank downgraded shares of Alphabet from a “buy” rating to a “hold” rating and set a $198.00 price target on the stock. in a report on Thursday, February 6th. Wedbush increased their target price on shares of Alphabet from $210.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday, January 6th. Cantor Fitzgerald dropped their price objective on Alphabet from $215.00 to $210.00 and set a “neutral” rating on the stock in a report on Wednesday, January 22nd. Finally, Morgan Stanley lowered their price target on Alphabet from $215.00 to $210.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Ten analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $210.62.
View Our Latest Report on GOOGL
Insider Buying and Selling
In related news, Director John L. Hennessy sold 200 shares of the company’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 directly owns 7,813 shares of the company’s stock, valued at $1,293,285.89. This represents a 2.50 % 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, CAO Amie Thuener O’toole sold 1,340 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $202.08, for a total value of $270,787.20. Following the completion of the sale, the chief accounting officer now directly owns 17,848 shares of the company’s stock, valued at approximately $3,606,723.84. This trade represents a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 95,882 shares of company stock valued at $17,934,130 in the last three months. 11.55% of the stock is owned by corporate insiders.
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.
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