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Renaissance Technologies LLC lowered its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 99.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,050 shares of the information services provider’s stock after selling 740,564 shares during the period. Renaissance Technologies LLC’s holdings in Alphabet were worth $593,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Bennett Selby Investments LP boosted its holdings in Alphabet by 4.0% in the 4th quarter. Bennett Selby Investments LP now owns 1,354 shares of the information services provider’s stock valued at $256,000 after purchasing an additional 52 shares in the last quarter. Macroview Investment Management LLC lifted its holdings in shares of Alphabet by 4.2% in the 4th quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider’s stock valued at $245,000 after buying an additional 52 shares during the period. Conrad Siegel Investment Advisors Inc. boosted its stake in shares of Alphabet by 0.5% in the fourth quarter. Conrad Siegel Investment Advisors Inc. now owns 9,845 shares of the information services provider’s stock valued at $1,864,000 after buying an additional 53 shares in the last quarter. Cornerstone Planning Group LLC grew its holdings in Alphabet by 2.3% during the fourth quarter. Cornerstone Planning Group LLC now owns 2,381 shares of the information services provider’s stock worth $457,000 after acquiring an additional 53 shares during the period. Finally, Addison Advisors LLC raised its position in Alphabet by 0.7% in the fourth quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider’s stock worth $1,425,000 after acquiring an additional 53 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.
Alphabet Stock Performance
Shares of NASDAQ:GOOGL opened at $164.03 on Friday. The business’s 50-day simple moving average is $160.19 and its 200 day simple moving average is $175.34. The company has a market cap of $2.00 trillion, a P/E ratio of 20.38, a PEG ratio of 1.34 and a beta of 1.03. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05.
Alphabet (NASDAQ:GOOGL – Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. The company had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. During the same quarter last year, the firm posted $1.89 earnings per share. On average, sell-side analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
Alphabet Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.51%. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s payout ratio is currently 9.36%.
Insider Buying and Selling at Alphabet
In other Alphabet news, Director Kavitark Ram Shriram sold 29,066 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $184.89, for a total transaction of $5,374,012.74. Following the sale, the director now directly owns 272,466 shares of the company’s stock, valued at approximately $50,376,238.74. This represents a 9.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Kent Walker sold 17,690 shares of Alphabet stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $185.51, for a total transaction of $3,281,671.90. Following the completion of the transaction, the insider now directly owns 43,111 shares of the company’s stock, valued at $7,997,521.61. This trade represents a 29.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 148,164 shares of company stock valued at $25,357,390 in the last ninety days. Insiders own 11.55% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on GOOGL shares. Stifel Nicolaus decreased their target price on shares of Alphabet from $225.00 to $192.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. KeyCorp increased their price objective on Alphabet from $185.00 to $195.00 and gave the company an “overweight” rating in a research note on Friday, April 25th. Rosenblatt Securities cut their target price on shares of Alphabet from $205.00 to $189.00 and set a “neutral” rating for the company in a research note on Friday, April 25th. BMO Capital Markets reiterated an “outperform” rating and set a $200.00 price target (down from $230.00) on shares of Alphabet in a report on Thursday, April 17th. Finally, Cantor Fitzgerald reduced their price objective on shares of Alphabet from $200.00 to $159.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 16th. Ten equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and five have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $199.46.
View Our Latest Stock Analysis on GOOGL
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.
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