Alphabet Inc. (NASDAQ:GOOGL) Shares Acquired by NewEdge Wealth LLC

NewEdge Wealth LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 6.1% during the 4th quarter, HoldingsChannel reports. The fund owned 732,060 shares of the information services provider’s stock after acquiring an additional 42,122 shares during the quarter. Alphabet comprises approximately 2.4% of NewEdge Wealth LLC’s portfolio, making the stock its 3rd biggest holding. NewEdge Wealth LLC’s holdings in Alphabet were worth $138,579,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its stake in shares of Alphabet by 7.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock valued at $10,559,240,000 after purchasing an additional 4,567,275 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Alphabet in the 3rd quarter valued at about $513,024,000. Geode Capital Management LLC boosted its stake in Alphabet by 2.0% during the third quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock worth $22,154,651,000 after buying an additional 2,626,431 shares during the period. National Bank of Canada FI increased its position in shares of Alphabet by 26.9% during the third quarter. National Bank of Canada FI now owns 10,064,598 shares of the information services provider’s stock valued at $1,669,300,000 after acquiring an additional 2,136,128 shares during the last quarter. Finally, Darsana Capital Partners LP purchased a new stake in shares of Alphabet in the 3rd quarter valued at approximately $331,700,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Activity

In related 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 transaction, the chief accounting officer now directly owns 17,848 shares in the company, valued at $3,606,723.84. This trade represents a 6.98 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Ruth Porat sold 17,690 shares of the company’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the transaction, the insider now owns 1,449,286 shares of the company’s stock, valued at approximately $265,914,995.28. The trade was a 1.21 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 97,182 shares of company stock valued at $18,192,354. Company insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. KeyCorp upped their price target on Alphabet from $215.00 to $225.00 and gave the stock an “overweight” rating in a research note on Friday, January 10th. Wolfe Research increased their target price on Alphabet from $220.00 to $230.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Wells Fargo & Company lifted their target price on Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Robert W. Baird reissued an “outperform” rating and set a $205.00 price target on shares of Alphabet in a research report on Tuesday, December 10th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $225.00 price objective on shares of Alphabet in a research note on Wednesday, February 5th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $210.62.

Alphabet Stock Down 1.1 %

GOOGL stock opened at $164.04 on Wednesday. The company has a market cap of $2.00 trillion, a price-to-earnings ratio of 20.38, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02. The company has a fifty day moving average price of $187.20 and a 200 day moving average price of $176.55. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. Alphabet Inc. has a 12 month low of $137.03 and a 12 month high of $207.05.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating analysts’ consensus estimates 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 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be paid a $0.20 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. Alphabet’s dividend payout ratio (DPR) is currently 9.94%.

Alphabet 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.