Alphabet Inc. (NASDAQ:GOOGL) is Somerville Kurt F’s 3rd Largest Position

Somerville Kurt F lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 158,841 shares of the information services provider’s stock after selling 2,655 shares during the quarter. Alphabet makes up about 5.0% of Somerville Kurt F’s investment portfolio, making the stock its 3rd biggest position. Somerville Kurt F’s holdings in Alphabet were worth $30,069,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Compass Planning Associates Inc acquired a new position in Alphabet during the fourth quarter worth approximately $30,000. E Fund Management Hong Kong Co. Ltd. grew its stake in shares of Alphabet by 518.8% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock valued at $37,000 after buying an additional 166 shares during the period. Fiduciary Advisors Inc. acquired a new stake in shares of Alphabet during the 4th quarter worth $39,000. PayPay Securities Corp raised its position in shares of Alphabet by 36.1% in the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after buying an additional 65 shares during the period. Finally, Prudent Man Investment Management Inc. acquired a new position in Alphabet in the fourth quarter valued at $53,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the sale, the chief executive officer now directly owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. The trade was a 1.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 1,340 shares of the company’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 completion of the sale, the chief accounting officer now directly owns 17,848 shares of the company’s stock, valued at approximately $3,606,723.84. This represents a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 119,797 shares of company stock worth $21,089,470. Insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of several research analyst reports. Mizuho dropped their price target on Alphabet from $230.00 to $205.00 and set an “outperform” rating for the company in a research note on Wednesday. Stifel Nicolaus raised their price target on shares of Alphabet from $200.00 to $225.00 and gave the company a “buy” rating in a report on Monday, January 13th. Citigroup dropped their price objective on shares of Alphabet from $229.00 to $195.00 and set a “buy” rating for the company in a research report on Thursday. 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 report on Monday, March 31st. Finally, Westpark Capital raised shares of Alphabet to a “strong-buy” rating in a research report on Tuesday, April 1st. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and five have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $206.51.

Alphabet Trading Up 2.8 %

Shares of NASDAQ GOOGL opened at $157.14 on Friday. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05. The company has a market cap of $1.92 trillion, a price-to-earnings ratio of 19.52, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock’s 50 day simple moving average is $168.52 and its 200 day simple moving average is $176.22.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Equities research analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s payout ratio is 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.