Runnymede Capital Advisors Inc. Makes New $4.48 Million Investment in Alphabet Inc. (NASDAQ:GOOGL)

Runnymede Capital Advisors Inc. acquired a new stake in shares of Alphabet Inc. (NASDAQ:GOOGL) during the 4th quarter, Holdings Channel reports. The firm acquired 23,672 shares of the information services provider’s stock, valued at approximately $4,481,000. Alphabet accounts for 3.9% of Runnymede Capital Advisors Inc.’s holdings, making the stock its 8th biggest position.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GOOGL. State Street Corp boosted its holdings in Alphabet by 0.3% during the 3rd quarter. State Street Corp now owns 222,555,548 shares of the information services provider’s stock worth $36,910,838,000 after acquiring an additional 743,369 shares during the last quarter. Geode Capital Management LLC raised its position in Alphabet by 2.0% in 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 acquiring an additional 2,626,431 shares during the period. JPMorgan Chase & Co. boosted its stake in Alphabet by 7.7% in the third quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock valued at $10,559,240,000 after acquiring an additional 4,567,275 shares during the last quarter. Fisher Asset Management LLC grew its position in shares of Alphabet by 1.5% during the 4th quarter. Fisher Asset Management LLC now owns 50,615,038 shares of the information services provider’s stock valued at $9,581,427,000 after acquiring an additional 757,138 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Alphabet by 3.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 38,451,718 shares of the information services provider’s stock worth $7,278,910,000 after purchasing an additional 1,218,639 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

GOOGL stock opened at $157.07 on Wednesday. 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 firm has a market cap of $1.91 trillion, a P/E ratio of 19.51, a P/E/G ratio of 1.34 and a beta of 1.02. The firm’s fifty day moving average is $178.01 and its 200 day moving average is $177.09. Alphabet Inc. has a 52 week low of $147.22 and a 52 week high of $207.05.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating 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%. Research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.51%. The ex-dividend date was Monday, March 10th. Alphabet’s payout ratio is 9.94%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on GOOGL. Wedbush increased their price objective 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 reiterated a “buy” rating and set a $225.00 price target on shares of Alphabet in a research note on Wednesday, February 5th. The Goldman Sachs Group restated a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a research note on Thursday, December 12th. Rosenblatt Securities reiterated a “neutral” rating and set a $205.00 target price on shares of Alphabet in a research report on Wednesday, March 19th. Finally, Piper Sandler lowered their price target on shares of Alphabet from $210.00 to $208.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $209.49.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,340 shares of the company’s 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 completion of the transaction, the chief accounting officer now directly owns 17,848 shares in the company, valued at approximately $3,606,723.84. This represents a 6.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ruth Porat sold 17,690 shares of Alphabet stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the sale, the insider now directly owns 1,449,286 shares in the company, valued at $265,914,995.28. The trade was a 1.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 88,665 shares of company stock worth $16,198,310 in the last three months. 11.55% of the stock is owned by 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.