Alphabet Inc. (NASDAQ:GOOGL) Shares Bought by Selway Asset Management

Selway Asset Management boosted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 0.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 57,109 shares of the information services provider’s stock after purchasing an additional 100 shares during the quarter. Alphabet comprises 4.2% of Selway Asset Management’s portfolio, making the stock its 4th largest position. Selway Asset Management’s holdings in Alphabet were worth $10,811,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in Alphabet during the fourth quarter valued at approximately $24,383,677,000. Wellington Management Group LLP raised its stake in shares of Alphabet by 15.9% in the 4th quarter. Wellington Management Group LLP now owns 66,050,135 shares of the information services provider’s stock valued at $12,503,291,000 after acquiring an additional 9,042,271 shares during the period. Proficio Capital Partners LLC raised its stake in shares of Alphabet by 20,990.0% in the 4th quarter. Proficio Capital Partners LLC now owns 6,186,748 shares of the information services provider’s stock valued at $1,171,151,000 after acquiring an additional 6,157,413 shares during the period. Amundi lifted its holdings in shares of Alphabet by 18.7% during the 4th quarter. Amundi now owns 29,866,698 shares of the information services provider’s stock valued at $5,792,317,000 after acquiring an additional 4,694,621 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in 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 purchasing an additional 4,567,275 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on GOOGL shares. Wedbush set a $190.00 target price on Alphabet and gave the company an “outperform” rating in a research note on Tuesday. Wells Fargo & Company lowered their price objective on shares of Alphabet from $184.00 to $167.00 and set an “equal weight” rating for the company in a research report on Monday, March 31st. Jefferies Financial Group reduced their target price on shares of Alphabet from $235.00 to $200.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. UBS Group set a $190.00 target price on shares of Alphabet in a research note on Thursday, March 27th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $200.00 price target (down previously from $230.00) on shares of Alphabet in a research note on Thursday. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and five have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $200.74.

Alphabet Stock Performance

Shares of GOOGL stock opened at $151.08 on Friday. The business has a 50 day simple moving average of $165.14 and a 200 day simple moving average of $175.77. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The firm has a market capitalization of $1.84 trillion, a price-to-earnings ratio of 18.77, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05.

Alphabet (NASDAQ:GOOGL) last released its quarterly 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 return on equity of 32.49% and a net margin of 28.60%. On average, equities research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a dividend of $0.20 per share. The ex-dividend date was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.53%. Alphabet’s dividend payout ratio (DPR) is 9.94%.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00. Following the sale, the chief executive officer now directly owns 2,717,696 shares in the company, valued at $430,917,877.76. The trade was a 1.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O’toole sold 1,340 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total transaction of $270,787.20. Following the sale, the chief accounting officer now owns 17,848 shares of the company’s stock, valued at $3,606,723.84. The trade was a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 148,163 shares of company stock valued at $25,361,647. Company insiders own 11.55% of the company’s stock.

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.