Forbes J M & Co. LLP Has $42.14 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Forbes J M & Co. LLP grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 222,615 shares of the information services provider’s stock after buying an additional 2,800 shares during the period. Alphabet accounts for 4.1% of Forbes J M & Co. LLP’s portfolio, making the stock its 5th biggest position. Forbes J M & Co. LLP’s holdings in Alphabet were worth $42,141,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. LMR Partners LLP purchased a new stake in Alphabet in the third quarter worth about $32,000. E Fund Management Hong Kong Co. Ltd. lifted its holdings in Alphabet by 518.8% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock worth $37,000 after buying an additional 166 shares during the period. Fiduciary Advisors Inc. purchased a new stake in Alphabet in the fourth quarter worth about $39,000. Denver PWM LLC lifted its holdings in Alphabet by 25.4% in the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after buying an additional 57 shares during the period. Finally, Teachers Insurance & Annuity Association of America purchased a new stake in Alphabet in the third quarter worth about $66,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,340 shares of Alphabet stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total value of $270,787.20. Following the completion of the transaction, the chief accounting officer now directly owns 17,848 shares of the company’s stock, valued at $3,606,723.84. This trade represents a 6.98 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $194.22, for a total transaction of $291,330.00. Following the completion of the transaction, the director now directly owns 23,324 shares of the company’s stock, valued at $4,529,987.28. The trade was a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 67,029 shares of company stock valued at $12,625,003. Corporate insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on GOOGL shares. Loop Capital raised their price objective on shares of Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a report on Wednesday, November 6th. DA Davidson raised their price objective on shares of Alphabet from $190.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. Piper Sandler cut their price target on shares of Alphabet from $210.00 to $208.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Pivotal Research increased their price target on shares of Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, JMP Securities reiterated a “market perform” rating on shares of Alphabet in a report on Wednesday, February 5th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $210.62.

Alphabet Stock Down 0.8 %

Shares of GOOGL stock opened at $183.77 on Wednesday. The company has a market capitalization of $2.25 trillion, a price-to-earnings ratio of 22.83, a PEG ratio of 1.39 and a beta of 0.99. Alphabet Inc. has a one year low of $130.66 and a one year high of $207.05. The company’s fifty day moving average price is $193.05 and its 200-day moving average price is $175.30. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.95.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Sell-side analysts expect that Alphabet Inc. will post 8.91 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.44%. Alphabet’s payout ratio is 9.94%.

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.