Arnhold LLC Has $39.31 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Arnhold LLC decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 6.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 281,417 shares of the information services provider’s stock after selling 19,653 shares during the quarter. Alphabet makes up 4.4% of Arnhold LLC’s portfolio, making the stock its 3rd largest position. Arnhold LLC’s holdings in Alphabet were worth $39,311,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GOOGL. FMR LLC raised its holdings in shares of Alphabet by 5.6% in the 3rd quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock valued at $29,746,764,000 after purchasing an additional 12,070,681 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Alphabet by 3.7% in the 3rd quarter. Northern Trust Corp now owns 67,684,197 shares of the information services provider’s stock valued at $8,857,154,000 after purchasing an additional 2,416,328 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings 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 valued at $4,453,856,000 after purchasing an additional 335,219 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of 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 valued at $3,279,955,000 after purchasing an additional 1,809,910 shares in the last quarter. Finally, Jennison Associates LLC raised its holdings in shares of Alphabet by 9.3% in 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.

Insider Activity at Alphabet

In related news, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $149.73, for a total value of $119,784.00. Following the completion of the transaction, the director now owns 7,164 shares in the company, valued at approximately $1,072,665.72. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Alphabet news, Director John L. Hennessy sold 300 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $139.51, for a total transaction of $41,853.00. Following the completion of the sale, the director now directly owns 9,291 shares in the company, valued at approximately $1,296,187.41. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $149.73, for a total value of $119,784.00. Following the sale, the director now owns 7,164 shares of the company’s stock, valued at $1,072,665.72. The disclosure for this sale can be found here. Insiders sold a total of 252,629 shares of company stock worth $37,091,240 in the last 90 days. Corporate insiders own 0.88% of the company’s stock.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $169.38 on Thursday. The company has a market capitalization of $2.09 trillion, a PE ratio of 25.98, a price-to-earnings-growth ratio of 1.28 and a beta of 1.02. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. The company’s fifty day moving average price is $151.40 and its 200 day moving average price is $142.83. Alphabet Inc. has a 1 year low of $107.19 and a 1 year high of $174.71.

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

Alphabet Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts have recently commented on GOOGL shares. Evercore ISI boosted their price target on shares of Alphabet from $160.00 to $220.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Sanford C. Bernstein boosted their price target on shares of Alphabet from $165.00 to $180.00 and gave the company a “market perform” rating in a report on Friday, April 26th. JPMorgan Chase & Co. boosted their price target on shares of Alphabet from $165.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, April 26th. Wolfe Research lifted their price objective on shares of Alphabet from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Finally, Canaccord Genuity Group lifted their price objective on shares of Alphabet from $190.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Five research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $190.60.

About Alphabet

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.