Barings LLC Cuts Stake in Alphabet Inc. (NASDAQ:GOOG)

Barings LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGFree Report) by 15.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,994 shares of the information services provider’s stock after selling 1,627 shares during the period. Barings LLC’s holdings in Alphabet were worth $1,268,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Partnership Wealth Management LLC purchased a new position in Alphabet in the 4th quarter valued at $26,000. Bruce G. Allen Investments LLC acquired a new position in Alphabet during the fourth quarter worth about $26,000. Tandem Wealth Advisors LLC purchased a new stake in Alphabet during the 3rd quarter valued at about $25,000. Equitec Proprietary Markets LLC acquired a new stake in Alphabet in the 4th quarter valued at about $28,000. Finally, DiNuzzo Private Wealth Inc. purchased a new position in Alphabet in the 4th quarter worth approximately $32,000. 27.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on GOOG. Morgan Stanley restated an “overweight” rating and issued a $165.00 price target on shares of Alphabet in a research report on Thursday, April 11th. Raymond James boosted their price target on shares of Alphabet from $150.00 to $160.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Stifel Nicolaus raised their price objective on shares of Alphabet from $154.00 to $174.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Susquehanna boosted their target price on shares of Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. Finally, Oppenheimer raised their price target on shares of Alphabet from $172.00 to $185.00 and gave the stock an “outperform” rating in a report on Monday, April 8th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $165.67.

Get Our Latest Stock Analysis on Alphabet

Alphabet Trading Up 0.6 %

GOOG stock traded up $1.03 during mid-day trading on Tuesday, hitting $171.93. 18,697,662 shares of the company were exchanged, compared to its average volume of 22,412,434. Alphabet Inc. has a 12-month low of $115.83 and a 12-month high of $176.42. The firm has a market capitalization of $2.12 trillion, a P/E ratio of 26.37, a PEG ratio of 1.27 and a beta of 1.02. The business has a fifty day simple moving average of $155.43 and a 200-day simple moving average of $145.31. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGGet Free Report) last posted its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.38. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The firm had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $78.75 billion. During the same quarter last year, the company posted $1.17 EPS. The firm’s quarterly revenue was up 15.4% on a year-over-year basis. On average, equities research analysts predict that Alphabet Inc. will post 7.66 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a — dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be issued a $0.20 dividend. The ex-dividend date is Monday, June 10th. Alphabet’s dividend payout ratio is presently 12.27%.

Insider Buying and Selling

In other news, Director John L. Hennessy sold 2,100 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $175.76, for a total value of $369,096.00. Following the completion of the transaction, the director now owns 5,891 shares of the company’s stock, valued at $1,035,402.16. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider John Kent Walker sold 48,076 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $142.20, for a total value of $6,836,407.20. Following the sale, the insider now owns 12,725 shares of the company’s stock, valued at $1,809,495. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 2,100 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $175.76, for a total transaction of $369,096.00. Following the transaction, the director now owns 5,891 shares of the company’s stock, valued at approximately $1,035,402.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 254,011 shares of company stock valued at $37,337,245. Corporate insiders own 12.99% of the company’s stock.

About Alphabet

(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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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