Norden Group LLC Reduces Stake in Alphabet Inc. (NASDAQ:GOOGL)

Norden Group LLC trimmed its position in Alphabet Inc. (NASDAQ:GOOGL) by 5.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,444 shares of the information services provider’s stock after selling 3,495 shares during the period. Alphabet accounts for 1.3% of Norden Group LLC’s portfolio, making the stock its 8th biggest position. Norden Group LLC’s holdings in Alphabet were worth $7,783,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. FMR LLC raised its stake in Alphabet by 5.6% during the third quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock valued at $29,746,764,000 after buying an additional 12,070,681 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Alphabet by 3.7% during the third quarter. Northern Trust Corp now owns 67,684,197 shares of the information services provider’s stock valued at $8,857,154,000 after acquiring an additional 2,416,328 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of 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 last quarter. American Century Companies Inc. grew its position in Alphabet by 7.8% during the 3rd quarter. American Century Companies Inc. now owns 25,064,614 shares of the information services provider’s stock valued at $3,279,955,000 after purchasing an additional 1,809,910 shares during the last quarter. Finally, Jennison Associates LLC increased its stake in Alphabet by 9.3% during the 3rd quarter. Jennison Associates LLC now owns 24,145,417 shares of the information services provider’s stock valued at $3,159,669,000 after purchasing an additional 2,058,221 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

NASDAQ:GOOGL opened at $171.25 on Wednesday. The stock has a market cap of $2.12 trillion, a PE ratio of 26.27, a P/E/G ratio of 1.28 and a beta of 1.02. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The business’s 50-day simple moving average is $151.40 and its two-hundred day simple moving average is $142.83. Alphabet Inc. has a 52 week low of $105.16 and a 52 week high of $174.71.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The company had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $66.04 billion. During the same quarter last year, the company earned $1.17 EPS. As a group, analysts forecast that Alphabet Inc. will post 7.57 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 2,100 shares of the business’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $175.76, for a total value of $369,096.00. Following the sale, the director now directly owns 5,891 shares in the company, valued at $1,035,402.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director John L. Hennessy sold 2,100 shares of the firm’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $175.76, for a total value of $369,096.00. Following the completion of the transaction, the director now directly owns 5,891 shares of the company’s stock, valued at $1,035,402.16. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $136.49, for a total transaction of $93,086.18. Following the completion of the sale, the chief accounting officer now owns 28,602 shares in the company, valued at approximately $3,903,886.98. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 252,629 shares of company stock valued at $37,091,240. Corporate insiders own 0.88% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on GOOGL shares. BMO Capital Markets upped their target price on shares of Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Robert W. Baird increased their target price on Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Needham & Company LLC lifted their target price on Alphabet from $160.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Citigroup upped their price target on Alphabet from $168.00 to $190.00 and gave the company a “buy” rating in a report on Friday, April 26th. Finally, JMP Securities lifted their price objective on Alphabet from $160.00 to $200.00 and gave the stock a “market outperform” rating in a report on Friday, April 26th. Five research analysts have rated the stock with a hold rating, thirty have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $190.60.

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.