First Heartland Consultants Inc. Sells 693 Shares of Alphabet Inc. (NASDAQ:GOOGL)

by · The Markets Daily

First Heartland Consultants Inc. trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 8.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,705 shares of the information services provider’s stock after selling 693 shares during the quarter. First Heartland Consultants Inc.’s holdings in Alphabet were worth $1,459,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. FMR LLC grew its position in shares of Alphabet by 9.8% during the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider’s stock worth $47,025,322,000 after buying an additional 22,100,902 shares in the last quarter. Norges Bank purchased a new stake in Alphabet in the fourth quarter worth about $24,383,677,000. Price T Rowe Associates Inc. MD grew its holdings in Alphabet by 8.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 98,638,127 shares of the information services provider’s stock worth $18,672,198,000 after acquiring an additional 7,574,417 shares in the last quarter. Capital Research Global Investors grew its holdings in Alphabet by 16.2% during the 4th quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider’s stock worth $13,635,878,000 after acquiring an additional 10,037,685 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Alphabet by 17.0% in the 4th quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider’s stock valued at $13,178,470,000 after purchasing an additional 10,135,430 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Performance

NASDAQ GOOGL opened at $163.98 on Wednesday. The stock has a market capitalization of $1.99 trillion, a price-to-earnings ratio of 20.37, a PEG ratio of 1.34 and a beta of 1.01. The stock has a 50-day moving average of $158.23 and a 200 day moving average of $174.93. 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 Inc. has a twelve month low of $140.53 and a twelve month high of $207.05.

Alphabet (NASDAQ:GOOGL – Get Free Report) last announced its 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 business had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same period in the prior year, the company posted $1.89 EPS. Sell-side analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be paid a $0.21 dividend. This is a boost from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.51%. Alphabet’s dividend payout ratio is 9.36%.

Insiders Place Their Bets

In other Alphabet news, insider Ruth Porat sold 17,690 shares of Alphabet stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $183.48, for a total value of $3,245,761.20. Following the sale, the insider now owns 1,449,286 shares of the company’s stock, valued at approximately $265,914,995.28. The trade was a 1.21% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $155.90, for a total transaction of $5,066,750.00. Following the sale, the chief executive officer now owns 2,652,696 shares of the company’s stock, valued at approximately $413,555,306.40. The trade was a 1.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 129,744 shares of company stock valued at $20,968,366 over the last quarter. 11.64% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of a number of recent research reports. Sanford C. Bernstein boosted their price objective on shares of Alphabet from $165.00 to $185.00 and gave the stock a “market perform” rating in a research note on Friday, April 25th. Wells Fargo & Company lifted their price objective on shares of Alphabet from $167.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Friday, April 25th. Susquehanna cut their price target on shares of Alphabet from $225.00 to $220.00 and set a “positive” rating on the stock in a report on Friday, April 25th. Truist Financial lowered their price objective on Alphabet from $220.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Finally, DA Davidson lowered their price target on Alphabet from $200.00 to $160.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Ten research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $199.75.

Check Out Our Latest Analysis on Alphabet

Alphabet 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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