Schear Investment Advisers LLC Has $3.49 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Schear Investment Advisers LLC boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 16.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 24,945 shares of the information services provider’s stock after buying an additional 3,507 shares during the quarter. Alphabet accounts for approximately 3.4% of Schear Investment Advisers LLC’s portfolio, making the stock its 6th biggest holding. Schear Investment Advisers LLC’s holdings in Alphabet were worth $3,485,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in GOOGL. FMR LLC lifted its holdings in Alphabet by 5.6% during the third quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock valued at $29,746,764,000 after purchasing an additional 12,070,681 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Alphabet by 4,894.1% in the fourth quarter. International Assets Investment Management LLC now owns 5,445,396 shares of the information services provider’s stock worth $7,606,670,000 after buying an additional 5,336,359 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC purchased a new position in shares of Alphabet in the third quarter worth $634,465,000. Ontario Teachers Pension Plan Board purchased a new position in shares of Alphabet in the third quarter worth $601,545,000. Finally, Lone Pine Capital LLC purchased a new position in shares of Alphabet in the third quarter worth $407,367,000. 40.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of several research analyst reports. Needham & Company LLC boosted their target price on shares of Alphabet from $160.00 to $210.00 and gave the stock a “buy” rating in a report on Friday. Piper Sandler reissued an “overweight” rating and issued a $200.00 target price (up previously from $160.00) on shares of Alphabet in a report on Friday. Barclays boosted their target price on shares of Alphabet from $173.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday. Truist Financial boosted their target price on shares of Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Friday. Finally, Stifel Nicolaus boosted their price target on shares of Alphabet from $174.00 to $196.00 and gave the stock a “buy” rating in a research report on Friday. Five investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $187.82.

Insider Buying and Selling

In related news, CFO Ruth Porat sold 48,077 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $137.22, for a total value of $6,597,125.94. Following the completion of the sale, the chief financial officer now directly owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Alphabet news, CFO Ruth Porat sold 48,077 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the completion of the sale, the chief financial officer now directly owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Prabhakar Raghavan sold 3,258 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $155.97, for a total transaction of $508,150.26. Following the sale, the senior vice president now directly owns 144,685 shares of the company’s stock, valued at $22,566,519.45. The disclosure for this sale can be found here. Insiders sold a total of 253,439 shares of company stock valued at $36,746,578 over the last three months. 0.88% of the stock is owned by company insiders.

Alphabet Trading Up 10.2 %

NASDAQ GOOGL opened at $171.95 on Friday. The company’s 50-day moving average price is $147.85 and its 200-day moving average price is $141.42. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The stock has a market cap of $2.14 trillion, a PE ratio of 26.37, a PEG ratio of 1.43 and a beta of 1.05. Alphabet Inc. has a 12 month low of $103.54 and a 12 month high of $174.71.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a net margin of 25.90% and a return on equity of 30.01%. The firm had revenue of $86.31 billion for the quarter, compared to analysts’ expectations of $70.77 billion. During the same period in the prior year, the business posted $1.05 earnings per share. Equities research analysts forecast that Alphabet Inc. will post 6.79 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date is Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

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.