Alphabet Inc. (NASDAQ:GOOG) is Adage Capital Partners GP L.L.C.’s 10th Largest Position

Adage Capital Partners GP L.L.C. decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOG) by 2.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,374,720 shares of the information services provider’s stock after selling 117,700 shares during the period. Alphabet makes up approximately 1.5% of Adage Capital Partners GP L.L.C.’s holdings, making the stock its 10th largest position. Adage Capital Partners GP L.L.C.’s holdings in Alphabet were worth $833,122,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Fiduciary Advisors Inc. purchased a new position in shares of Alphabet in the 4th quarter valued at approximately $27,000. LSV Asset Management acquired a new stake in shares of Alphabet during the fourth quarter worth $27,000. WealthTrak Capital Management LLC purchased a new position in Alphabet in the 4th quarter valued at $38,000. Mountain Hill Investment Partners Corp. acquired a new position in Alphabet in the 4th quarter valued at $39,000. Finally, Noble Wealth Management PBC purchased a new position in Alphabet during the 4th quarter worth $43,000. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on GOOG. Scotiabank dropped their price target on shares of Alphabet from $232.00 to $200.00 and set a “sector outperform” rating on the stock in a research note on Monday. Oppenheimer boosted their target price on Alphabet from $215.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Needham & Company LLC reissued a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. Cantor Fitzgerald reissued a “neutral” rating and set a $200.00 price objective on shares of Alphabet in a report on Wednesday, March 19th. Finally, Citizens Jmp cut Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $208.38.

Alphabet Price Performance

NASDAQ:GOOG opened at $153.90 on Wednesday. Alphabet Inc. has a 12-month low of $142.66 and a 12-month high of $208.70. The firm has a market cap of $1.88 trillion, a price-to-earnings ratio of 19.12, a price-to-earnings-growth ratio of 1.34 and a beta of 1.04. The company’s 50-day moving average is $165.77 and its two-hundred day moving average is $177.32. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.

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

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s dividend payout ratio is currently 9.94%.

Insider Activity 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 16th. The shares were sold at an average price of $156.16, for a total value of $5,075,200.00. Following the completion of the sale, the chief executive officer now directly owns 2,685,196 shares in the company, valued at approximately $419,320,207.36. The trade was a 1.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 1,340 shares of the 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 transaction, the chief accounting officer now directly owns 17,848 shares in the company, valued at approximately $3,606,723.84. This represents a 6.98 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 148,163 shares of company stock worth $25,361,647. 12.99% of the stock is currently owned by insiders.

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.