Alphabet Inc. (NASDAQ:GOOGL) Stake Raised by MONECO Advisors LLC

MONECO Advisors LLC grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 143.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 50,317 shares of the information services provider’s stock after buying an additional 29,632 shares during the period. Alphabet accounts for about 1.3% of MONECO Advisors LLC’s investment portfolio, making the stock its 13th biggest holding. MONECO Advisors LLC’s holdings in Alphabet were worth $7,029,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. FMR LLC lifted its position in Alphabet by 5.6% in the third quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock worth $29,746,764,000 after purchasing an additional 12,070,681 shares during the period. Northern Trust Corp boosted its stake in Alphabet by 3.7% during the third quarter. Northern Trust Corp now owns 67,684,197 shares of the information services provider’s stock valued at $8,857,154,000 after buying an additional 2,416,328 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Alphabet by 1.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 34,035,275 shares of the information services provider’s stock worth $4,453,856,000 after acquiring an additional 335,219 shares during the period. American Century Companies Inc. raised its position in Alphabet by 7.8% in the third quarter. American Century Companies Inc. now owns 25,064,614 shares of the information services provider’s stock worth $3,279,955,000 after acquiring an additional 1,809,910 shares in the last quarter. Finally, Jennison Associates LLC lifted its holdings in Alphabet by 9.3% in the 3rd quarter. Jennison Associates LLC now owns 24,145,417 shares of the information services provider’s stock valued at $3,159,669,000 after acquiring an additional 2,058,221 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $136.49, for a total value of $93,086.18. Following the transaction, the chief accounting officer now owns 28,602 shares of the company’s stock, valued at $3,903,886.98. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $166.80, for a total transaction of $3,753,000.00. Following the completion of the transaction, the chief executive officer now owns 2,280,511 shares of the company’s stock, valued at approximately $380,389,234.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $136.49, for a total value of $93,086.18. Following the completion of the sale, the chief accounting officer now directly owns 28,602 shares in the company, valued at approximately $3,903,886.98. The disclosure for this sale can be found here. In the last quarter, insiders have sold 252,629 shares of company stock valued at $37,091,240. Insiders own 0.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on GOOGL. Jefferies Financial Group boosted their target price on shares of Alphabet from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Barclays increased their price objective on Alphabet from $173.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Citigroup lifted their target price on Alphabet from $168.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Mizuho upped their target price on Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a report on Friday, April 26th. Finally, Robert W. Baird lifted their price target on Alphabet from $160.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Five analysts have rated the stock with a hold rating, thirty have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $190.60.

Alphabet Stock Performance

GOOGL stock opened at $169.38 on Thursday. The firm has a 50 day moving average of $151.40 and a two-hundred day moving average of $142.83. Alphabet Inc. has a 12 month low of $107.19 and a 12 month high of $174.71. The company has a market capitalization of $2.09 trillion, a price-to-earnings ratio of 25.98, a P/E/G ratio of 1.28 and a beta of 1.02. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05.

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, beating the consensus estimate of $1.49 by $0.40. The business had revenue of $80.54 billion during the quarter, compared to analyst estimates of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same quarter in the previous year, the business earned $1.17 EPS. As a group, equities analysts anticipate that Alphabet Inc. will post 7.57 EPS for the current fiscal year.

Alphabet Dividend Announcement

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

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.