Monarch Capital Management Inc. boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 1.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,265 shares of the information services provider’s stock after purchasing an additional 200 shares during the quarter. Monarch Capital Management Inc.’s holdings in Alphabet were worth $2,322,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. LMR Partners LLP bought a new stake in shares of Alphabet in the third quarter valued at about $32,000. Denver PWM LLC lifted its position in shares of Alphabet by 25.4% in the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after acquiring an additional 57 shares during the period. Quarry LP acquired a new stake in shares of Alphabet during the 2nd quarter worth approximately $53,000. Teachers Insurance & Annuity Association of America bought a new stake in shares of Alphabet during the third quarter valued at approximately $66,000. Finally, Mendota Financial Group LLC raised its stake in shares of Alphabet by 19.0% in the third quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock valued at $67,000 after purchasing an additional 64 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.
Wall Street Analyst Weigh In
Several brokerages have issued reports on GOOGL. Piper Sandler reissued an “overweight” rating and issued a $210.00 price target (up previously from $200.00) on shares of Alphabet in a report on Wednesday, October 30th. Royal Bank of Canada increased their price target on shares of Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Phillip Securities raised Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Tigress Financial raised their target price on Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a research report on Thursday, September 26th. Finally, Bank of America reiterated a “buy” rating and issued a $210.00 price target on shares of Alphabet in a research report on Monday, December 23rd. Nine investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $208.15.
Alphabet Stock Up 1.0 %
Alphabet stock opened at $198.05 on Wednesday. The firm has a market capitalization of $2.42 trillion, a price-to-earnings ratio of 26.27, a PEG ratio of 1.26 and a beta of 0.98. The company’s 50 day simple moving average is $184.74 and its 200 day simple moving average is $173.33. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. Alphabet Inc. has a fifty-two week low of $130.66 and a fifty-two week high of $202.29.
Alphabet (NASDAQ:GOOGL – Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. During the same period last year, the firm posted $1.55 earnings per share. As a group, sell-side analysts anticipate that Alphabet Inc. will post 8.03 EPS for the current year.
Alphabet Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.40%. Alphabet’s dividend payout ratio (DPR) is currently 10.61%.
Insider Transactions at Alphabet
In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $177.36, for a total transaction of $3,990,600.00. Following the sale, the chief executive officer now directly owns 2,084,306 shares in the company, valued at $369,672,512.16. This trade represents a 1.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 2,834 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $194.32, for a total transaction of $550,702.88. Following the completion of the transaction, the chief accounting officer now directly owns 17,847 shares of the company’s stock, valued at approximately $3,468,029.04. The trade was a 13.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 133,387 shares of company stock valued at $24,368,654 over the last 90 days. 11.55% of the stock is owned by company 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.
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