Alphabet Inc. (NASDAQ:GOOGL) is J.P. Marvel Investment Advisors LLC’s 4th Largest Position

J.P. Marvel Investment Advisors LLC reduced its position in Alphabet Inc. (NASDAQ:GOOGL) by 0.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 177,680 shares of the information services provider’s stock after selling 736 shares during the period. Alphabet makes up about 5.6% of J.P. Marvel Investment Advisors LLC’s investment portfolio, making the stock its 4th biggest position. J.P. Marvel Investment Advisors LLC’s holdings in Alphabet were worth $33,635,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. International Assets Investment Management LLC grew its position in Alphabet by 43,005.6% during the third quarter. International Assets Investment Management LLC now owns 18,743,594 shares of the information services provider’s stock valued at $31,086,250,000 after buying an additional 18,700,111 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Alphabet by 116.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 8,670,225 shares of the information services provider’s stock worth $1,437,957,000 after acquiring an additional 4,662,809 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Alphabet by 7.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock worth $10,559,240,000 after acquiring an additional 4,567,275 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Alphabet during the 3rd quarter valued at $513,024,000. Finally, Geode Capital Management LLC increased its stake in shares of Alphabet by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock worth $22,154,651,000 after purchasing an additional 2,626,431 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on GOOGL shares. Morgan Stanley cut their price target on Alphabet from $215.00 to $210.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Stifel Nicolaus increased their target price on shares of Alphabet from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Bank of America reaffirmed a “buy” rating and set a $210.00 price target on shares of Alphabet in a report on Monday, December 23rd. Finally, Cantor Fitzgerald reduced their price objective on shares of Alphabet from $215.00 to $210.00 and set a “neutral” rating for the company in a research note on Wednesday, January 22nd. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average price target of $210.62.

Alphabet Stock Down 2.6 %

Shares of GOOGL opened at $168.27 on Friday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The business has a fifty day moving average of $191.00 and a 200 day moving average of $176.06. The company has a market cap of $2.05 trillion, a PE ratio of 20.90, a P/E/G ratio of 1.34 and a beta of 0.99. Alphabet Inc. has a 52-week low of $130.66 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 (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. On average, sell-side analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $194.22, for a total transaction of $291,330.00. Following the completion of the sale, the director now directly owns 23,324 shares in the company, valued at approximately $4,529,987.28. This trade represents a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $170.41, for a total transaction of $232,950.47. Following the completion of the transaction, the chief accounting officer now owns 23,515 shares in the company, valued at approximately $4,007,191.15. The trade was a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 134,188 shares of company stock worth $25,036,883. 11.55% of the stock is currently owned by company insiders.

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.