Alphabet Inc. (NASDAQ:GOOGL) Shares Purchased by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. increased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 6.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 468,443 shares of the information services provider’s stock after buying an additional 29,303 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Alphabet were worth $88,676,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of GOOGL. Pettinga Financial Advisors LLC boosted its stake in shares of Alphabet by 10.1% in the third quarter. Pettinga Financial Advisors LLC now owns 2,186 shares of the information services provider’s stock worth $363,000 after buying an additional 201 shares during the last quarter. Impax Asset Management Group plc lifted its holdings in Alphabet by 6.8% in the third quarter. Impax Asset Management Group plc now owns 728,575 shares of the information services provider’s stock valued at $120,834,000 after acquiring an additional 46,677 shares during the period. Principal Financial Group Inc. boosted its position in Alphabet by 3.1% in the 3rd quarter. Principal Financial Group Inc. now owns 11,283,594 shares of the information services provider’s stock worth $1,871,384,000 after purchasing an additional 337,031 shares in the last quarter. Saturna Capital Corp grew its stake in shares of Alphabet by 0.3% during the 3rd quarter. Saturna Capital Corp now owns 1,430,995 shares of the information services provider’s stock worth $237,331,000 after purchasing an additional 4,003 shares during the period. Finally, Arjuna Capital grew its stake in shares of Alphabet by 0.7% during the 3rd quarter. Arjuna Capital now owns 102,574 shares of the information services provider’s stock worth $17,012,000 after purchasing an additional 706 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Activity

In other news, insider Ruth Porat sold 17,690 shares of Alphabet stock in a transaction on Friday, February 21st. The stock was sold at an average price of $183.48, for a total value of $3,245,761.20. Following the completion of the sale, the insider now directly 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 29,066 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $184.89, for a total value of $5,374,012.74. Following the transaction, the director now directly owns 272,466 shares in the company, valued at approximately $50,376,238.74. The trade was a 9.64 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 104,812 shares of company stock valued at $19,336,979. Company insiders own 11.55% of the company’s stock.

Analysts Set New Price Targets

GOOGL has been the topic of a number of recent analyst reports. Robert W. Baird reissued an “outperform” rating and set a $205.00 price target on shares of Alphabet in a report on Tuesday, December 10th. Citigroup lowered their target price on shares of Alphabet from $232.00 to $229.00 and set a “buy” rating on the stock in a research note on Wednesday, February 5th. Wedbush lifted their price target on Alphabet from $210.00 to $220.00 and gave the company an “outperform” rating in a research note on Monday, January 6th. Stifel Nicolaus upped their price target on Alphabet from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $200.00 price objective on shares of Alphabet in a report on Wednesday, March 19th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $210.59.

Alphabet Trading Down 1.7 %

GOOGL opened at $162.24 on Friday. The stock has a market capitalization of $1.98 trillion, a PE ratio of 20.15, a P/E/G ratio of 1.34 and a beta of 1.02. Alphabet Inc. has a one year low of $147.22 and a one year high of $207.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The business’s 50 day moving average price is $180.49 and its 200 day moving average price is $176.68.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results 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 return on equity of 32.49% and a net margin of 28.60%. As a group, equities research analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s dividend payout ratio is presently 9.94%.

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.