Alphabet Inc. (NASDAQ:GOOGL) is Patten & Patten Inc. TN’s 4th Largest Position

Patten & Patten Inc. TN decreased its position in Alphabet Inc. (NASDAQ:GOOGL) by 0.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 214,815 shares of the information services provider’s stock after selling 1,162 shares during the quarter. Alphabet accounts for about 2.7% of Patten & Patten Inc. TN’s investment portfolio, making the stock its 4th largest holding. Patten & Patten Inc. TN’s holdings in Alphabet were worth $40,664,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in GOOGL. Schear Investment Advisers LLC boosted its stake in shares of Alphabet by 17.0% during the 3rd quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock valued at $5,598,000 after buying an additional 4,905 shares during the last quarter. Permanent Capital Management LP bought a new position in Alphabet during the 4th quarter valued at $273,000. Landscape Capital Management L.L.C. grew its holdings in Alphabet by 27.9% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider’s stock worth $4,192,000 after acquiring an additional 5,516 shares in the last quarter. Glass Wealth Management Co LLC increased its position in shares of Alphabet by 4.5% in the 4th quarter. Glass Wealth Management Co LLC now owns 37,054 shares of the information services provider’s stock worth $7,014,000 after purchasing an additional 1,580 shares during the last quarter. Finally, Olistico Wealth LLC raised its stake in shares of Alphabet by 9.1% in the 4th quarter. Olistico Wealth LLC now owns 8,981 shares of the information services provider’s stock valued at $1,700,000 after purchasing an additional 746 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Performance

GOOGL opened at $162.24 on Friday. The firm has a market cap of $1.98 trillion, a PE ratio of 20.15, a P/E/G ratio of 1.34 and a beta of 1.02. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The business has a fifty day simple moving average of $180.49 and a 200-day simple moving average of $176.68. Alphabet Inc. has a fifty-two week low of $147.22 and a fifty-two week high of $207.05.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. As a group, equities analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

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

Analysts Set New Price Targets

Several analysts recently weighed in on GOOGL shares. DA Davidson boosted their price objective on Alphabet from $190.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Wedbush boosted their price target on Alphabet from $210.00 to $220.00 and gave the company an “outperform” rating in a report on Monday, January 6th. Needham & Company LLC restated a “buy” rating and set a $225.00 price objective on shares of Alphabet in a research note on Wednesday, February 5th. Stifel Nicolaus boosted their target price on shares of Alphabet from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $200.00 price target on shares of Alphabet in a research report on Wednesday, March 19th. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $210.59.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 1,368 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $191.55, for a total value of $262,040.40. Following the completion of the sale, the chief accounting officer now owns 20,681 shares in the company, valued at $3,961,445.55. This represents a 6.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John Kent Walker sold 16,820 shares of Alphabet stock in a transaction on Monday, December 30th. The shares were sold at an average price of $192.62, for a total value of $3,239,868.40. Following the transaction, the insider now owns 43,981 shares in the company, valued at $8,471,620.22. This represents a 27.66 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 104,812 shares of company stock worth $19,336,979. 11.55% of the stock is owned by corporate insiders.

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.