Alphabet Inc. (NASDAQ:GOOGL) Stock Position Increased by Reynders McVeigh Capital Management LLC

Reynders McVeigh Capital Management LLC lifted its position in Alphabet Inc. (NASDAQ:GOOGL) by 3.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 263,911 shares of the information services provider’s stock after purchasing an additional 9,559 shares during the quarter. Alphabet comprises about 2.6% of Reynders McVeigh Capital Management LLC’s investment portfolio, making the stock its 9th biggest position. Reynders McVeigh Capital Management LLC’s holdings in Alphabet were worth $49,958,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its position in Alphabet by 3.1% in the third quarter. Principal Financial Group Inc. now owns 11,283,594 shares of the information services provider’s stock worth $1,871,384,000 after acquiring an additional 337,031 shares in the last quarter. Arete Wealth Advisors LLC purchased a new stake in Alphabet during the 3rd quarter valued at $8,960,000. Fortem Financial Group LLC lifted its position in Alphabet by 93.3% in the third quarter. Fortem Financial Group LLC now owns 17,080 shares of the information services provider’s stock worth $2,833,000 after buying an additional 8,242 shares during the last quarter. Soltis Investment Advisors LLC boosted its stake in Alphabet by 18.8% during the third quarter. Soltis Investment Advisors LLC now owns 86,135 shares of the information services provider’s stock worth $14,285,000 after buying an additional 13,642 shares during the period. Finally, Hohimer Wealth Management LLC increased its position in Alphabet by 25.3% during the third quarter. Hohimer Wealth Management LLC now owns 43,897 shares of the information services provider’s stock valued at $7,280,000 after acquiring an additional 8,851 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on GOOGL shares. Cantor Fitzgerald lowered their target price on shares of Alphabet from $200.00 to $159.00 and set a “neutral” rating for the company in a report on Wednesday. KeyCorp dropped their target price on Alphabet from $220.00 to $202.00 and set an “overweight” rating for the company in a research report on Tuesday, March 18th. UBS Group set a $190.00 price target on Alphabet in a report on Thursday, March 27th. Wedbush set a $190.00 price objective on Alphabet and gave the company an “outperform” rating in a report on Tuesday. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $200.00 target price (down previously from $230.00) on shares of Alphabet in a research note on Thursday. Ten analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $200.74.

Alphabet Price Performance

Shares of GOOGL stock opened at $151.08 on Friday. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two 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 firm has a market capitalization of $1.84 trillion, a price-to-earnings ratio of 18.77, a PEG ratio of 1.34 and a beta of 1.03. The stock’s 50-day simple moving average is $165.82 and its 200-day simple moving average is $175.88.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping 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%. As a group, equities analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were paid a $0.20 dividend. The ex-dividend date was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.53%. Alphabet’s dividend payout ratio (DPR) is 9.94%.

Insiders Place Their Bets

In related news, insider John Kent Walker sold 17,690 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $185.51, for a total transaction of $3,281,671.90. Following the completion of the transaction, the insider now directly owns 43,111 shares in the company, valued at $7,997,521.61. The trade was a 29.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 1,340 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were 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 in the company, valued at approximately $3,606,723.84. The trade was 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 115,663 shares of company stock valued at $20,286,447. 11.55% of the stock is owned by company insiders.

Alphabet 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.