Burgundy Asset Management Ltd. decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 9.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,260,736 shares of the information services provider’s stock after selling 226,396 shares during the quarter. Alphabet makes up about 3.5% of Burgundy Asset Management Ltd.’s investment portfolio, making the stock its biggest holding. Burgundy Asset Management Ltd.’s holdings in Alphabet were worth $315,802,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOGL. DiNuzzo Private Wealth Inc. bought a new stake in Alphabet during the fourth quarter worth $38,000. Meritage Group LP raised its position in Alphabet by 1,061.5% during the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after acquiring an additional 276 shares in the last quarter. Armor Investment Advisors LLC raised its position in shares of Alphabet by 31.0% in the fourth quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock valued at $47,000 after purchasing an additional 80 shares during the period. IAG Wealth Partners LLC raised its position in shares of Alphabet by 55.9% in the fourth quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock valued at $48,000 after purchasing an additional 123 shares during the period. Finally, Valued Wealth Advisors LLC bought a new position in shares of Alphabet in the fourth quarter valued at about $55,000. 40.03% of the stock is owned by institutional investors.
Alphabet Stock Performance
NASDAQ:GOOGL opened at $176.73 on Friday. The company has a fifty day moving average of $165.34 and a 200-day moving average of $149.29. The firm has a market capitalization of $2.18 trillion, a P/E ratio of 27.11, a P/E/G ratio of 1.32 and a beta of 1.01. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a twelve month low of $115.35 and a twelve month high of $178.77.
Alphabet (NASDAQ:GOOGL – Get Free Report) last released its quarterly earnings data 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. The company had revenue of $80.54 billion during the quarter, compared to analyst estimates of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same quarter in the previous year, the business posted $1.17 EPS. As a group, sell-side analysts anticipate that Alphabet Inc. will post 7.6 EPS 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 given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.45%. The ex-dividend date is Monday, June 10th. Alphabet’s payout ratio is currently 12.27%.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on GOOGL shares. Mizuho increased their price objective on shares of Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Morgan Stanley reissued an “overweight” rating and issued a $195.00 price objective on shares of Alphabet in a research report on Wednesday, May 15th. Stifel Nicolaus reissued a “buy” rating and issued a $196.00 price objective on shares of Alphabet in a research report on Wednesday, May 15th. Sanford C. Bernstein raised their price target on shares of Alphabet from $165.00 to $180.00 and gave the stock a “market perform” rating in a research report on Friday, April 26th. Finally, Royal Bank of Canada raised their price target on shares of Alphabet from $155.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Five investment 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’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $191.57.
Read Our Latest Stock Analysis on GOOGL
Insider Activity at Alphabet
In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $148.78, for a total transaction of $3,347,550.00. Following the transaction, the chief executive officer now directly owns 2,310,191 shares of the company’s stock, valued at approximately $343,710,216.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $148.78, for a total transaction of $3,347,550.00. Following the transaction, the chief executive officer now directly owns 2,310,191 shares of the company’s stock, valued at approximately $343,710,216.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John L. Hennessy sold 300 shares of the business’s stock in a transaction dated 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 transaction, the director now directly owns 9,291 shares in the company, valued at $1,296,187.41. The disclosure for this sale can be found here. In the last 90 days, insiders sold 157,758 shares of company stock valued at $25,580,826. 11.55% of the stock is owned by company insiders.
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.
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