Thoroughbred Financial Services LLC Has $16.74 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Thoroughbred Financial Services LLC lifted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 9.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 119,841 shares of the information services provider’s stock after buying an additional 10,824 shares during the period. Alphabet comprises 1.4% of Thoroughbred Financial Services LLC’s holdings, making the stock its 11th largest position. Thoroughbred Financial Services LLC’s holdings in Alphabet were worth $16,740,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of GOOGL. Norges Bank bought a new stake in shares of Alphabet in the 4th quarter valued at about $15,441,917,000. 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 during the period. International Assets Investment Management LLC raised its holdings in shares of Alphabet by 4,894.1% in the 4th quarter. International Assets Investment Management LLC now owns 5,445,396 shares of the information services provider’s stock valued at $7,606,670,000 after purchasing an additional 5,336,359 shares during the period. J.P. Morgan Private Wealth Advisors LLC bought a new stake in shares of Alphabet in the 3rd quarter valued at about $634,465,000. Finally, Ontario Teachers Pension Plan Board bought a new stake in shares of Alphabet in the 3rd quarter valued at about $601,545,000. 40.03% of the stock is owned by institutional investors.

Alphabet Trading Up 0.8 %

GOOGL opened at $174.99 on Friday. Alphabet Inc. has a 1-year low of $115.35 and a 1-year high of $178.77. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. The company has a market cap of $2.16 trillion, a P/E ratio of 26.84, a price-to-earnings-growth ratio of 1.31 and a beta of 1.02. The company has a fifty day moving average price of $160.81 and a two-hundred day moving average price of $146.81.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating 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 firm had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $66.04 billion. During the same period in the previous year, the firm posted $1.17 earnings per share. Analysts predict that Alphabet Inc. will post 7.61 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, June 10th.

Analyst Ratings Changes

Several research firms have weighed in on GOOGL. Oppenheimer increased their price target on shares of Alphabet from $185.00 to $205.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Wolfe Research increased their price target on shares of Alphabet from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Piper Sandler reissued an “overweight” rating and issued a $200.00 price target (up from $160.00) on shares of Alphabet in a report on Friday, April 26th. Wedbush increased their price target on shares of Alphabet from $175.00 to $205.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Finally, Sanford C. Bernstein increased 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. Five investment 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’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $191.57.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated 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 directly owns 28,602 shares in the company, valued at $3,903,886.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 2,332,691 shares in the company, valued at $309,548,095.70. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $136.49, for a total transaction of $93,086.18. Following the transaction, the chief accounting officer now owns 28,602 shares in the company, valued at $3,903,886.98. The disclosure for this sale can be found here. Insiders sold 205,935 shares of company stock worth $31,178,987 over the last three months. 11.55% of the stock is currently owned by 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.