Lynch & Associates IN boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 2.4% in the fourth quarter, Holdings Channel reports. The fund owned 31,272 shares of the information services provider’s stock after purchasing an additional 738 shares during the quarter. Alphabet comprises 1.3% of Lynch & Associates IN’s investment portfolio, making the stock its 28th biggest holding. Lynch & Associates IN’s holdings in Alphabet were worth $5,920,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the business. State Street Corp grew its holdings in Alphabet by 0.3% during the 3rd quarter. State Street Corp now owns 222,555,548 shares of the information services provider’s stock valued at $36,910,838,000 after buying an additional 743,369 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Alphabet by 2.0% during the third quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock valued at $22,154,651,000 after purchasing an additional 2,626,431 shares during the period. JPMorgan Chase & Co. grew its stake in Alphabet by 7.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock worth $10,559,240,000 after acquiring an additional 4,567,275 shares in the last quarter. Fisher Asset Management LLC grew its stake in Alphabet by 2.5% in the third quarter. Fisher Asset Management LLC now owns 49,857,900 shares of the information services provider’s stock worth $8,268,933,000 after purchasing an additional 1,237,385 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Alphabet by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 37,233,079 shares of the information services provider’s stock valued at $6,175,106,000 after acquiring an additional 523,416 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.
Alphabet Price Performance
Shares of GOOGL stock traded down $1.91 during trading hours on Friday, hitting $192.04. 26,591,431 shares of the company’s stock were exchanged, compared to its average volume of 24,268,787. The company has a market capitalization of $2.35 trillion, a PE ratio of 25.47, a PEG ratio of 1.35 and a beta of 0.98. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12-month low of $130.66 and a 12-month high of $201.42. The business’s 50 day simple moving average is $182.20 and its 200-day simple moving average is $173.01.
Alphabet Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a yield of 0.42%. Alphabet’s dividend payout ratio is currently 10.61%.
Analyst Ratings Changes
Several equities analysts have issued reports on GOOGL shares. KeyCorp lifted their price target on shares of Alphabet from $215.00 to $225.00 and gave the stock an “overweight” rating in a report on Friday. Tigress Financial lifted their price target on shares of Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a research note on Thursday, September 26th. Morgan Stanley upped their target price on shares of Alphabet from $190.00 to $205.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Citizens Jmp downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Finally, Evercore ISI increased their price objective on shares of Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Nine research analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $207.08.
Get Our Latest Report on Alphabet
Insider Activity at Alphabet
In other news, CAO Amie Thuener O’toole sold 1,368 shares of Alphabet stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total transaction of $262,040.40. Following the completion of the sale, the chief accounting officer now directly owns 20,681 shares in the company, valued at approximately $3,961,445.55. The trade was a 6.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the completion of the sale, the chief executive officer now directly owns 2,106,806 shares in the company, valued at approximately $350,361,837.80. The trade was a 1.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 155,887 shares of company stock valued at $27,996,356 over the last 90 days. 11.55% of the stock is owned by corporate insiders.
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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