Alphabet Inc. (NASDAQ:GOOGL) Shares Purchased by Northern Trust Corp

by · The Markets Daily

Northern Trust Corp boosted its stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 17.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 69,616,854 shares of the information services provider’s stock after purchasing an additional 10,135,430 shares during the period. Alphabet comprises approximately 1.9% of Northern Trust Corp’s portfolio, making the stock its 6th largest position. Northern Trust Corp’s holdings in Alphabet were worth $13,178,470,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Optivise Advisory Services LLC grew its stake in shares of Alphabet by 8.0% in the fourth quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider’s stock worth $1,035,000 after acquiring an additional 403 shares in the last quarter. Community Bank N.A. lifted its position in shares of Alphabet by 6.4% during the 4th quarter. Community Bank N.A. now owns 46,173 shares of the information services provider’s stock worth $8,741,000 after purchasing an additional 2,790 shares during the last quarter. Premier Fund Managers Ltd lifted its position in shares of Alphabet by 30.0% during the 4th quarter. Premier Fund Managers Ltd now owns 61,792 shares of the information services provider’s stock worth $11,816,000 after purchasing an additional 14,262 shares during the last quarter. Absolute Capital Management LLC lifted its position in shares of Alphabet by 14.0% during the 4th quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider’s stock worth $401,000 after purchasing an additional 258 shares during the last quarter. Finally, Permanent Capital Management LP purchased a new stake in shares of Alphabet during the 4th quarter worth $273,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 673 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total value of $104,537.09. Following the sale, the chief accounting officer now owns 15,303 shares of the company’s stock, valued at $2,377,014.99. The trade was a 4.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 2,717,696 shares of the company’s stock, valued at approximately $430,917,877.76. This represents a 1.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 148,163 shares of company stock valued at $25,361,647 over the last ninety days. 11.55% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of several recent analyst reports. Cantor Fitzgerald decreased their price objective on shares of Alphabet from $200.00 to $159.00 and set a “neutral” rating for the company in a research report on Wednesday, April 16th. Piper Sandler lifted their price objective on shares of Alphabet from $185.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday. DZ Bank cut shares of Alphabet from a “buy” rating to a “hold” rating and set a $198.00 price objective for the company. in a research report on Thursday, February 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $178.00 price objective on shares of Alphabet in a research report on Friday. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price target on shares of Alphabet in a research report on Wednesday, April 23rd. Ten equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $198.63.

Get Our Latest Stock Analysis on GOOGL

Alphabet Stock Up 1.7 %

Shares of NASDAQ GOOGL opened at $161.96 on Monday. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05. 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 stock’s fifty day moving average is $162.18 and its 200 day moving average is $175.62. The stock has a market capitalization of $1.97 trillion, a P/E ratio of 20.12, a PEG ratio of 1.34 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL – Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The company had revenue of $76.49 billion for the quarter, compared to analysts’ expectations of $89.30 billion. During the same period in the previous year, the business posted $1.89 earnings per share. 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 announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.52%. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio is presently 9.36%.

Alphabet Company Profile

(Free Report)

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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