Gerber LLC Takes $307,000 Position in Alphabet Inc. (NASDAQ:GOOGL)

Gerber LLC bought a new position in Alphabet Inc. (NASDAQ:GOOGL) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,197 shares of the information services provider’s stock, valued at approximately $307,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GOOGL. FMR LLC lifted its holdings in shares of Alphabet by 5.6% during the 3rd quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock worth $29,746,764,000 after acquiring an additional 12,070,681 shares during the period. Norges Bank bought a new position in shares of Alphabet during the 4th quarter worth about $15,441,917,000. Northern Trust Corp lifted its holdings in shares of Alphabet by 3.7% during the 3rd quarter. Northern Trust Corp now owns 67,684,197 shares of the information services provider’s stock worth $8,857,154,000 after acquiring an additional 2,416,328 shares during the period. Fisher Asset Management LLC lifted its holdings in shares of Alphabet by 3.4% during the 4th quarter. Fisher Asset Management LLC now owns 45,220,857 shares of the information services provider’s stock worth $6,316,902,000 after acquiring an additional 1,472,043 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Alphabet by 2.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 34,910,194 shares of the information services provider’s stock worth $4,876,605,000 after acquiring an additional 874,919 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Trading Up 0.9 %

NASDAQ:GOOGL traded up $1.63 on Friday, reaching $176.79. 18,063,555 shares of the stock traded hands, compared to its average volume of 21,874,168. The firm has a market capitalization of $2.18 trillion, a price-to-earnings ratio of 27.12, a price-to-earnings-growth ratio of 1.33 and a beta of 1.01. The company’s 50 day moving average is $168.08 and its 200-day moving average is $151.11. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 1-year low of $115.35 and a 1-year high of $180.41.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. The business had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same quarter in the prior year, the firm posted $1.17 EPS. Equities research analysts anticipate that Alphabet Inc. will post 7.6 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date is Monday, June 10th. Alphabet’s payout ratio is 12.27%.

Insiders Place Their Bets

In related news, Director John L. Hennessy sold 1,500 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $177.92, for a total value of $266,880.00. Following the transaction, the director now directly owns 3,727 shares in the company, valued at approximately $663,107.84. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director John L. Hennessy sold 1,500 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $177.92, for a total value of $266,880.00. Following the transaction, the director now directly owns 3,727 shares in the company, valued at approximately $663,107.84. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $148.78, for a total value of $3,347,550.00. Following the completion of the transaction, the chief executive officer now owns 2,310,191 shares in the company, valued at $343,710,216.98. The disclosure for this sale can be found here. In the last three months, insiders have sold 158,958 shares of company stock worth $25,805,853. Corporate insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on GOOGL shares. JMP Securities restated a “market outperform” rating and issued a $200.00 price objective on shares of Alphabet in a research report on Wednesday, May 15th. Oppenheimer lifted their price target on shares of Alphabet from $185.00 to $205.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Truist Financial lifted their price target on shares of Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. KeyCorp lifted their price objective on shares of Alphabet from $165.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. Finally, Loop Capital lifted their price objective on shares of Alphabet from $155.00 to $170.00 and gave the stock a “hold” rating in a research note on Wednesday, May 1st. Five equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $193.26.

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.