Founders Capital Management grew its stake in shares of Alphabet Inc. (NASDAQ:GOOG – Free Report) by 1.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,391 shares of the information services provider’s stock after purchasing an additional 115 shares during the quarter. Alphabet makes up 1.4% of Founders Capital Management’s portfolio, making the stock its 22nd largest holding. Founders Capital Management’s holdings in Alphabet were worth $2,169,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also made changes to their positions in GOOG. FMR LLC boosted its position in Alphabet by 5.2% during the 3rd quarter. FMR LLC now owns 114,802,133 shares of the information services provider’s stock worth $19,193,768,000 after acquiring an additional 5,655,022 shares during the period. Geode Capital Management LLC increased its stake in Alphabet by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 103,557,486 shares of the information services provider’s stock valued at $17,247,208,000 after buying an additional 259,213 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Alphabet by 10.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,334,082 shares of the information services provider’s stock worth $5,573,125,000 after acquiring an additional 3,113,395 shares during the period. Jennison Associates LLC boosted its holdings in shares of Alphabet by 9.1% in the third quarter. Jennison Associates LLC now owns 15,424,324 shares of the information services provider’s stock valued at $2,578,793,000 after acquiring an additional 1,291,274 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Alphabet by 4.5% during the second quarter. Dimensional Fund Advisors LP now owns 14,657,421 shares of the information services provider’s stock worth $2,688,743,000 after purchasing an additional 636,008 shares in the last quarter. Institutional investors own 27.26% of the company’s stock.
Analysts Set New Price Targets
GOOG has been the topic of a number of research reports. JPMorgan Chase & Co. boosted their price objective on Alphabet from $208.00 to $212.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group lifted their price objective on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Citizens Jmp lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Barclays upped their price target on Alphabet from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, Phillip Securities upgraded Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Six investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $200.56.
Insiders Place Their Bets
In related news, CAO Amie Thuener O’toole sold 2,834 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $197.55, for a total value of $559,856.70. Following the sale, the chief accounting officer now directly owns 20,681 shares in the company, valued at $4,085,531.55. This trade represents a 12.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Frances Arnold sold 441 shares of Alphabet stock in a transaction on Monday, November 4th. The stock was sold at an average price of $171.06, for a total transaction of $75,437.46. Following the transaction, the director now directly owns 16,490 shares in the company, valued at approximately $2,820,779.40. This represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 154,387 shares of company stock valued at $27,748,931 in the last 90 days. 12.99% of the stock is currently owned by insiders.
Alphabet Price Performance
Shares of NASDAQ:GOOG traded down $2.22 on Monday, hitting $190.95. The stock had a trading volume of 6,553,389 shares, compared to its average volume of 15,473,697. Alphabet Inc. has a twelve month low of $131.55 and a twelve month high of $202.88. The company has a market capitalization of $2.34 trillion, a price-to-earnings ratio of 25.32, a price-to-earnings-growth ratio of 1.34 and a beta of 0.99. The firm’s 50 day moving average price is $184.12 and its 200-day moving average price is $174.45. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.
Alphabet (NASDAQ:GOOG – Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion during the quarter, compared to analyst estimates of $86.39 billion. During the same quarter last year, the business posted $1.55 earnings per share. The company’s revenue was up 15.1% on a year-over-year basis. On average, equities research analysts predict that Alphabet Inc. will post 8.02 earnings per share for the current year.
Alphabet Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.42%. Alphabet’s dividend payout ratio (DPR) is 10.61%.
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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