Globeflex Capital L P Raises Stock Position in Alphabet Inc. (NASDAQ:GOOG)

Globeflex Capital L P increased its holdings in Alphabet Inc. (NASDAQ:GOOG) by 7,893.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 187,850 shares of the information services provider’s stock after purchasing an additional 185,500 shares during the quarter. Alphabet makes up 3.0% of Globeflex Capital L P’s investment portfolio, making the stock its 3rd biggest holding. Globeflex Capital L P’s holdings in Alphabet were worth $35,774,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Swedbank AB boosted its position in Alphabet by 0.6% during the third quarter. Swedbank AB now owns 8,338,900 shares of the information services provider’s stock valued at $1,394,181,000 after acquiring an additional 51,226 shares during the last quarter. Principal Financial Group Inc. boosted its position in Alphabet by 2.5% during the third quarter. Principal Financial Group Inc. now owns 11,024,276 shares of the information services provider’s stock valued at $1,843,149,000 after acquiring an additional 264,962 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its position in Alphabet by 5.7% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 276,409 shares of the information services provider’s stock valued at $46,213,000 after acquiring an additional 14,847 shares during the last quarter. Lummis Asset Management LP boosted its position in Alphabet by 12.4% during the third quarter. Lummis Asset Management LP now owns 21,313 shares of the information services provider’s stock valued at $3,563,000 after acquiring an additional 2,354 shares during the last quarter. Finally, Intelligence Driven Advisers LLC boosted its position in Alphabet by 15.8% during the third quarter. Intelligence Driven Advisers LLC now owns 10,039 shares of the information services provider’s stock valued at $1,678,000 after acquiring an additional 1,370 shares during the last quarter. Institutional investors own 27.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Benchmark reaffirmed a “negative” rating on shares of Alphabet in a research report on Wednesday, February 5th. Needham & Company LLC reaffirmed a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. Scotiabank increased their price objective on shares of Alphabet from $212.00 to $240.00 and gave the stock a “sector outperform” rating in a research report on Friday, January 24th. Oppenheimer increased their price objective on shares of Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Finally, Citizens Jmp cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $209.13.

Insider Buying and Selling

In related news, insider John Kent Walker sold 16,820 shares of Alphabet stock in a transaction on Monday, December 30th. The shares were sold at an average price of $192.62, for a total value of $3,239,868.40. Following the transaction, the insider now owns 43,981 shares in the company, valued at $8,471,620.22. This trade represents a 27.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the completion of the transaction, the director now owns 7,813 shares in the company, valued at $1,293,285.89. The trade was a 2.50 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 95,882 shares of company stock valued at $17,934,130. Company insiders own 12.99% of the company’s stock.

Alphabet Trading Up 1.8 %

NASDAQ:GOOG opened at $167.62 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The firm has a market cap of $2.04 trillion, a price-to-earnings ratio of 20.82, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a 52 week low of $141.13 and a 52 week high of $208.70. The firm has a 50-day moving average price of $187.41 and a two-hundred day moving average price of $177.92.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating 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, equities analysts expect that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

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

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.