Alphabet Inc. (NASDAQ:GOOGL) Holdings Increased by Hartford Funds Management Co LLC

Hartford Funds Management Co LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 19.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,503 shares of the information services provider’s stock after buying an additional 5,017 shares during the quarter. Alphabet accounts for approximately 0.4% of Hartford Funds Management Co LLC’s holdings, making the stock its 7th biggest holding. Hartford Funds Management Co LLC’s holdings in Alphabet were worth $4,261,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. FMR LLC raised its position in Alphabet by 5.6% in the 3rd quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock worth $29,746,764,000 after purchasing an additional 12,070,681 shares during the period. Northern Trust Corp raised its position in Alphabet by 3.7% in the 3rd quarter. Northern Trust Corp now owns 67,684,197 shares of the information services provider’s stock worth $8,857,154,000 after purchasing an additional 2,416,328 shares during the period. Charles Schwab Investment Management Inc. raised its position in Alphabet by 1.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 34,035,275 shares of the information services provider’s stock worth $4,453,856,000 after purchasing an additional 335,219 shares during the period. American Century Companies Inc. raised its position in Alphabet by 7.8% in the 3rd quarter. American Century Companies Inc. now owns 25,064,614 shares of the information services provider’s stock worth $3,279,955,000 after purchasing an additional 1,809,910 shares during the period. Finally, Jennison Associates LLC grew its stake in Alphabet by 9.3% in the 3rd quarter. Jennison Associates LLC now owns 24,145,417 shares of the information services provider’s stock worth $3,159,669,000 after acquiring an additional 2,058,221 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on GOOGL shares. KeyCorp upped their target price on shares of Alphabet from $165.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. Evercore ISI upped their target price on shares of Alphabet from $160.00 to $220.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Raymond James upped their target price on shares of Alphabet from $160.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Citigroup upped their target price on shares of Alphabet from $168.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Finally, Wolfe Research upped their target price on shares of Alphabet from $180.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Five analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $190.60.

Alphabet Trading Down 1.1 %

NASDAQ GOOGL opened at $169.38 on Thursday. The company has a fifty day simple moving average of $151.40 and a two-hundred day simple moving average of $142.83. The stock has a market cap of $2.09 trillion, a P/E ratio of 25.98, a P/E/G ratio of 1.28 and a beta of 1.02. Alphabet Inc. has a 12-month low of $107.19 and a 12-month high of $174.71. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. The business had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same quarter last year, the company posted $1.17 earnings per share. On average, analysts forecast that Alphabet Inc. will post 7.57 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the completion of the transaction, the chief executive officer now owns 2,332,691 shares of the company’s stock, valued at $309,548,095.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $136.49, for a total transaction of $93,086.18. Following the completion of the transaction, the chief accounting officer now owns 28,602 shares of the company’s stock, valued at $3,903,886.98. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the sale, the chief executive officer now owns 2,332,691 shares in the company, valued at approximately $309,548,095.70. The disclosure for this sale can be found here. Insiders sold a total of 252,629 shares of company stock valued at $37,091,240 over the last 90 days. Insiders own 0.88% of the company’s stock.

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.