Alphabet Inc. (NASDAQ:GOOGL) Stake Trimmed by Norden Group LLC

Norden Group LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,444 shares of the information services provider’s stock after selling 3,495 shares during the quarter. Alphabet comprises about 1.3% of Norden Group LLC’s portfolio, making the stock its 8th biggest holding. Norden Group LLC’s holdings in Alphabet were worth $7,783,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Meritage Group LP grew its holdings in Alphabet by 1,061.5% in the 3rd quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock valued at $40,000 after buying an additional 276 shares in the last quarter. Macroview Investment Management LLC boosted its position in shares of Alphabet by 165.8% during the 3rd quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock valued at $42,000 after acquiring an additional 199 shares during the last quarter. Armor Investment Advisors LLC grew its holdings in shares of Alphabet by 31.0% in the fourth quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock valued at $47,000 after purchasing an additional 80 shares during the period. IAG Wealth Partners LLC boosted its holdings in Alphabet by 55.9% in the 4th quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock valued at $48,000 after purchasing an additional 123 shares during the last quarter. Finally, Valued Wealth Advisors LLC purchased a new stake in shares of Alphabet in the 4th quarter valued at approximately $55,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Performance

Shares of GOOGL stock opened at $171.25 on Wednesday. Alphabet Inc. has a 12 month low of $105.16 and a 12 month high of $174.71. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. The company has a market cap of $2.12 trillion, a P/E ratio of 26.27, a PEG ratio of 1.28 and a beta of 1.02. The firm has a fifty day moving average price of $151.40 and a 200 day moving average price of $142.83.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $66.04 billion. During the same period in the prior year, the firm posted $1.17 EPS. Sell-side analysts predict that Alphabet Inc. will post 7.57 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.47%. The ex-dividend date is Monday, June 10th.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on GOOGL. KeyCorp lifted their price target on shares of Alphabet from $165.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd. Citigroup lifted their target price on Alphabet from $168.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Loop Capital increased their price target on Alphabet from $155.00 to $170.00 and gave the stock a “hold” rating in a report on Wednesday, May 1st. Piper Sandler reissued an “overweight” rating and set a $200.00 price objective (up from $160.00) on shares of Alphabet in a research report on Friday, April 26th. Finally, Canaccord Genuity Group upped their target price on shares of Alphabet from $190.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Five research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $190.60.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the completion of the sale, the chief executive officer now directly owns 2,332,691 shares of the company’s stock, valued at $309,548,095.70. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Ruth Porat sold 48,077 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the transaction, the chief financial officer now owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total value of $2,985,750.00. Following the completion of the transaction, the chief executive officer now owns 2,332,691 shares of the company’s stock, valued at approximately $309,548,095.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 252,629 shares of company stock worth $37,091,240. Insiders own 0.88% of the company’s stock.

About Alphabet

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.