Alphabet Inc. (NASDAQ:GOOGL) is Makena Capital Management LLC’s 9th Largest Position

Makena Capital Management LLC cut its position in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 7.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 97,696 shares of the information services provider’s stock after selling 8,287 shares during the period. Alphabet comprises 3.1% of Makena Capital Management LLC’s portfolio, making the stock its 9th largest holding. Makena Capital Management LLC’s holdings in Alphabet were worth $13,768,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GOOGL. FMR LLC grew its stake 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 acquiring an additional 12,070,681 shares in the last quarter. Norges Bank bought a new position in Alphabet during the fourth quarter valued at $15,441,917,000. Northern Trust Corp lifted its position 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 purchasing an additional 2,416,328 shares during the last quarter. Fisher Asset Management LLC lifted its position in Alphabet by 3.4% during the fourth quarter. Fisher Asset Management LLC now owns 45,220,857 shares of the information services provider’s stock valued at $6,316,902,000 after purchasing an additional 1,472,043 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Alphabet by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 34,910,194 shares of the information services provider’s stock valued at $4,876,605,000 after purchasing an additional 874,919 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on GOOGL shares. Evercore ISI increased their price objective on shares of Alphabet from $160.00 to $220.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Piper Sandler restated an “overweight” rating and issued a $200.00 target price (up previously from $160.00) on shares of Alphabet in a report on Friday, April 26th. TD Cowen raised their target price on shares of Alphabet from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, April 26th. JMP Securities restated a “market outperform” rating and issued a $200.00 target price on shares of Alphabet in a report on Wednesday, May 15th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $196.00 price objective on shares of Alphabet in a research report on Wednesday, May 15th. Five analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $191.57.

Read Our Latest Stock Analysis on Alphabet

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $172.50 on Monday. The company’s fifty day moving average price is $163.41 and its 200 day moving average price is $148.38. Alphabet Inc. has a 1 year low of $115.35 and a 1 year high of $178.77. The company has a market capitalization of $2.13 trillion, a PE ratio of 26.46, a price-to-earnings-growth ratio of 1.30 and a beta of 1.01. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15.

Alphabet (NASDAQ:GOOGLGet Free Report) last announced its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The firm had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $66.04 billion. During the same period in the prior year, the firm posted $1.17 earnings per share. On average, research analysts predict that Alphabet Inc. will post 7.6 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date is Monday, June 10th.

Insiders Place Their Bets

In other Alphabet news, SVP Prabhakar Raghavan sold 3,258 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $155.97, for a total transaction of $508,150.26. Following the completion of the transaction, the senior vice president now directly owns 144,685 shares in the company, valued at $22,566,519.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider John Kent Walker sold 12,084 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $151.19, for a total value of $1,826,979.96. Following the completion of the sale, the insider now directly owns 48,717 shares in the company, valued at $7,365,523.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 completion of the sale, the senior vice president now owns 144,685 shares of the company’s stock, valued at $22,566,519.45. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 205,153 shares of company stock worth $31,072,079. Company insiders own 11.55% of the company’s stock.

Alphabet Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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