Alphabet Inc. (NASDAQ:GOOGL) Stake Lowered by Maj Invest Holding A S

Maj Invest Holding A S reduced its position in Alphabet Inc. (NASDAQ:GOOGL) by 13.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,444,864 shares of the information services provider’s stock after selling 234,172 shares during the period. Alphabet accounts for about 5.9% of Maj Invest Holding A S’s investment portfolio, making the stock its 9th biggest position. Maj Invest Holding A S’s holdings in Alphabet were worth $201,833,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. DiNuzzo Private Wealth Inc. purchased a new stake in Alphabet during the fourth quarter valued at approximately $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 valued at $40,000 after purchasing an additional 276 shares during the period. Armor Investment Advisors LLC raised its position in Alphabet by 31.0% during 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 Alphabet by 55.9% during 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 purchased a new stake in Alphabet during the fourth quarter valued at approximately $55,000. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on GOOGL shares. Robert W. Baird upped their price objective on Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Raymond James upped their target price on Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. KeyCorp upped their target price on Alphabet from $165.00 to $175.00 and gave the company an “overweight” rating in a research note on Monday, April 22nd. Mizuho upped their target price on Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a research note 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 note on Tuesday, April 16th. Five 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 stock. According to data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average target price of $191.57.

Insider Activity

In related news, Director John L. Hennessy sold 300 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $139.51, for a total value of $41,853.00. Following the completion of the transaction, the director now owns 9,291 shares in the company, valued at approximately $1,296,187.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $136.49, for a total value of $93,086.18. Following the completion of the transaction, the chief accounting officer now 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 accessible through this hyperlink. Also, Director John L. Hennessy sold 300 shares of Alphabet stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $139.51, for a total value of $41,853.00. Following the transaction, the director now owns 9,291 shares of the company’s stock, valued at approximately $1,296,187.41. The disclosure for this sale can be found here. In the last quarter, insiders sold 205,935 shares of company stock worth $31,178,987. Insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL opened at $174.99 on Friday. Alphabet Inc. has a 12 month low of $115.35 and a 12 month high of $178.77. The stock has a fifty day moving average price of $160.81 and a 200-day moving average price of $146.81. 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 firm has a market cap of $2.16 trillion, a PE ratio of 26.84, a P/E/G ratio of 1.31 and a beta of 1.02.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The firm had revenue of $80.54 billion during the quarter, compared to analyst estimates of $66.04 billion. During the same quarter in the prior year, the business posted $1.17 EPS. Equities research analysts predict that Alphabet Inc. will post 7.61 earnings per share 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. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.46%.

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.