Thurston Springer Miller Herd & Titak Inc. increased its stake in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 58.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 16,660 shares of the information services provider’s stock after purchasing an additional 6,151 shares during the quarter. Alphabet makes up approximately 0.6% of Thurston Springer Miller Herd & Titak Inc.’s investment portfolio, making the stock its 27th biggest position. Thurston Springer Miller Herd & Titak Inc.’s holdings in Alphabet were worth $3,154,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently bought and sold shares of GOOGL. Park Avenue Securities LLC raised its stake in Alphabet by 17.1% during the 4th quarter. Park Avenue Securities LLC now owns 231,919 shares of the information services provider’s stock worth $43,902,000 after acquiring an additional 33,921 shares during the period. Kathmere Capital Management LLC increased its stake in shares of Alphabet by 27.8% in the fourth quarter. Kathmere Capital Management LLC now owns 8,519 shares of the information services provider’s stock worth $1,613,000 after purchasing an additional 1,851 shares in the last quarter. San Luis Wealth Advisors LLC raised its position in shares of Alphabet by 23.9% during the 4th quarter. San Luis Wealth Advisors LLC now owns 61,885 shares of the information services provider’s stock valued at $11,715,000 after purchasing an additional 11,944 shares during the period. Rockland Trust Co. lifted its stake in shares of Alphabet by 0.5% during the 4th quarter. Rockland Trust Co. now owns 420,032 shares of the information services provider’s stock valued at $79,512,000 after buying an additional 1,989 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC boosted its holdings in Alphabet by 6.7% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 174,972 shares of the information services provider’s stock worth $33,122,000 after buying an additional 11,002 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several brokerages have recently commented on GOOGL. Truist Financial boosted their price objective on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. JMP Securities reissued a “market perform” rating on shares of Alphabet in a report on Friday, January 10th. Citizens Jmp lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Sanford C. Bernstein boosted their target price on shares of Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company raised their target price on shares of Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a research note on Monday. Nine analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $208.15.
Insider Activity at Alphabet
In related news, Director Frances Arnold sold 441 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the completion of the transaction, the director now directly owns 16,490 shares in the company, valued at $2,820,779.40. The trade was a 2.60 % 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 2,834 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $197.55, for a total value of $559,856.70. Following the sale, the chief accounting officer now directly owns 20,681 shares in the company, valued at $4,085,531.55. This represents a 12.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 133,387 shares of company stock valued at $24,368,654 in the last ninety days. Company insiders own 11.55% of the company’s stock.
Alphabet Stock Performance
Shares of GOOGL opened at $192.91 on Friday. Alphabet Inc. has a 12 month low of $130.66 and a 12 month high of $201.42. The stock has a fifty day moving average price of $183.83 and a 200-day moving average price of $173.20. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm has a market cap of $2.36 trillion, a PE ratio of 25.58, a P/E/G ratio of 1.22 and a beta of 0.98.
Alphabet (NASDAQ:GOOGL – Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. During the same quarter last year, the company earned $1.55 earnings per share. Equities research analysts predict that Alphabet Inc. will post 8.03 earnings per share for the current fiscal year.
Alphabet Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were paid a dividend of $0.20 per share. The ex-dividend date was Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.41%. Alphabet’s payout ratio is currently 10.61%.
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.
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