Primecap Management Co. CA Sells 215,930 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Primecap Management Co. CA decreased its holdings in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 1.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,200,410 shares of the information services provider’s stock after selling 215,930 shares during the period. Alphabet comprises approximately 2.1% of Primecap Management Co. CA’s investment portfolio, making the stock its 11th biggest holding. Primecap Management Co. CA owned about 0.15% of Alphabet worth $2,682,105,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Norges Bank acquired a new position in shares of Alphabet during the fourth quarter worth $15,441,917,000. FMR LLC increased its position in shares of Alphabet by 5.6% during the third 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 in the last quarter. International Assets Investment Management LLC increased its position in shares of Alphabet by 4,894.1% during the fourth quarter. International Assets Investment Management LLC now owns 5,445,396 shares of the information services provider’s stock worth $7,606,670,000 after purchasing an additional 5,336,359 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC acquired a new position in shares of Alphabet during the third quarter worth $634,465,000. Finally, Ontario Teachers Pension Plan Board acquired a new position in shares of Alphabet during the third quarter worth $601,545,000. Institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

Alphabet stock opened at $175.90 on Thursday. The stock has a market cap of $2.17 trillion, a P/E ratio of 26.98, a price-to-earnings-growth ratio of 1.32 and a beta of 1.02. The company has a fifty day simple moving average of $162.48 and a 200-day simple moving average of $147.73. Alphabet Inc. has a 12-month low of $115.35 and a 12-month 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.

Alphabet (NASDAQ:GOOGLGet Free Report) last released its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $66.04 billion. During the same period in the previous year, the company earned $1.17 EPS. Equities analysts expect that Alphabet Inc. will post 7.61 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business 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 dividend of $0.20 per share. The ex-dividend date is Monday, June 10th. This represents a $0.80 annualized dividend and a yield of 0.45%.

Wall Street Analyst Weigh In

GOOGL has been the topic of several research reports. Stifel Nicolaus reissued a “buy” rating and issued a $196.00 target price on shares of Alphabet in a research report on Wednesday, May 15th. Rosenblatt Securities upped their target price on Alphabet from $172.00 to $182.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Tigress Financial upped their target price on Alphabet from $176.00 to $210.00 and gave the company a “strong-buy” rating in a research report on Friday, May 24th. Evercore ISI upped their target price on Alphabet from $160.00 to $220.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Finally, UBS Group upped their target price on Alphabet from $150.00 to $166.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Five research 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.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $191.57.

View Our Latest Stock Report on GOOGL

Insider Buying and Selling

In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet 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 sale, the chief accounting officer now directly owns 28,602 shares in the company, valued at approximately $3,903,886.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet 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 sale, the chief accounting officer now directly owns 28,602 shares in the company, valued at approximately $3,903,886.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet 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 in the company, valued at $309,548,095.70. The disclosure for this sale can be found here. Insiders have sold 205,835 shares of company stock worth $31,165,165 in the last ninety days. 11.55% of the stock is owned by corporate insiders.

About Alphabet

(Free Report)

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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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