Dakota Wealth Management Sells 6,450 Shares of Alphabet Inc. $GOOG

Dakota Wealth Management decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGFree Report) by 4.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 149,404 shares of the information services provider’s stock after selling 6,450 shares during the period. Alphabet accounts for 0.8% of Dakota Wealth Management’s investment portfolio, making the stock its 22nd biggest holding. Dakota Wealth Management’s holdings in Alphabet were worth $46,883,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. State Street Corp lifted its position in shares of Alphabet by 1.3% during the 2nd quarter. State Street Corp now owns 188,914,125 shares of the information services provider’s stock worth $33,511,477,000 after purchasing an additional 2,428,266 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Alphabet by 8.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 99,529,742 shares of the information services provider’s stock valued at $24,240,469,000 after purchasing an additional 7,904,434 shares during the period. Alliancebernstein L.P. grew its holdings in Alphabet by 5.8% in the 3rd quarter. Alliancebernstein L.P. now owns 40,032,291 shares of the information services provider’s stock valued at $9,749,864,000 after buying an additional 2,209,203 shares during the last quarter. Legal & General Group Plc grew its holdings in Alphabet by 0.7% in the 3rd quarter. Legal & General Group Plc now owns 32,583,332 shares of the information services provider’s stock valued at $7,935,671,000 after buying an additional 223,743 shares during the last quarter. Finally, Capital World Investors increased its position in Alphabet by 1.9% in the 3rd quarter. Capital World Investors now owns 28,625,464 shares of the information services provider’s stock worth $6,971,769,000 after buying an additional 539,679 shares during the period. 27.26% of the stock is currently owned by institutional investors.

Alphabet Stock Down 0.2%

NASDAQ GOOG opened at $273.14 on Tuesday. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.11. The stock’s 50 day moving average is $311.78 and its two-hundred day moving average is $296.01. The company has a market capitalization of $3.30 trillion, a price-to-earnings ratio of 25.27, a PEG ratio of 1.60 and a beta of 1.10. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $350.15.

Alphabet (NASDAQ:GOOGGet Free Report) last released its quarterly earnings data on Thursday, February 5th. The information services provider reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.59 by $0.23. The company had revenue of $113.83 billion for the quarter, compared to analyst estimates of $111.24 billion. Alphabet had a return on equity of 35.01% and a net margin of 32.81%.The company’s revenue was up 18.0% compared to the same quarter last year. During the same period in the prior year, the company posted $2.15 EPS. Equities analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 9th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date was Monday, March 9th. Alphabet’s dividend payout ratio is 7.77%.

Analysts Set New Price Targets

A number of brokerages have recently commented on GOOG. Wedbush reiterated an “outperform” rating and set a $370.00 price target on shares of Alphabet in a report on Thursday, February 5th. Cantor Fitzgerald restated a “neutral” rating on shares of Alphabet in a research note on Tuesday, January 20th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Alphabet in a research report on Wednesday, January 21st. Piper Sandler reiterated an “overweight” rating and set a $395.00 target price on shares of Alphabet in a research note on Thursday, February 5th. Finally, Oppenheimer reissued an “outperform” rating and issued a $360.00 price target on shares of Alphabet in a report on Thursday, February 5th. Nine analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Alphabet has an average rating of “Buy” and a consensus price target of $345.71.

View Our Latest Stock Report on Alphabet

Insider Activity

In other news, insider John Kent Walker sold 47,574 shares of the business’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $301.45, for a total value of $14,341,182.30. Following the sale, the insider owned 13,227 shares in the company, valued at approximately $3,987,279.15. The trade was a 78.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 955 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $298.00, for a total transaction of $284,590.00. Following the completion of the sale, the chief accounting officer directly owned 9,918 shares in the company, valued at approximately $2,955,564. The trade was a 8.78% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 2,092,336 shares of company stock valued at $112,519,943. 12.99% of the stock is owned by company insiders.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

Alphabet Company Profile

(Free Report)

Alphabet Inc (NASDAQ: GOOG) is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as “Other Bets.” Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company’s history.

Alphabet’s core business centers on internet search and advertising, with Google Search and the company’s ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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