Gateway Investment Advisers LLC cut its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 3.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 570,111 shares of the information services provider's stock after selling 18,119 shares during the quarter. Alphabet comprises approximately 1.2% of Gateway Investment Advisers LLC's holdings, making the stock its 13th biggest position. Gateway Investment Advisers LLC's holdings in Alphabet were worth $107,922,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in GOOGL. LMR Partners LLP bought a new position in shares of Alphabet during the 3rd quarter worth approximately $32,000. Denver PWM LLC lifted its holdings in Alphabet by 25.4% during the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider's stock valued at $47,000 after purchasing an additional 57 shares during the last quarter. Quarry LP bought a new position in Alphabet during the second quarter worth $53,000. Teachers Insurance & Annuity Association of America acquired a new position in shares of Alphabet in the third quarter valued at $66,000. Finally, Mendota Financial Group LLC raised its position in shares of Alphabet by 19.0% in the third quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider's stock valued at $67,000 after purchasing an additional 64 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages recently commented on GOOGL. Citizens Jmp downgraded shares of Alphabet from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 2nd. Loop Capital boosted their price objective on Alphabet from $170.00 to $185.00 and gave the stock a "hold" rating in a report on Wednesday, November 6th. Roth Mkm increased their target price on Alphabet from $206.00 to $212.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Phillip Securities upgraded Alphabet to a "strong-buy" rating in a research note on Friday, November 1st. Finally, China Renaissance upgraded Alphabet from a "hold" rating to a "buy" rating in a research report on Thursday, October 31st. Nine investment analysts have rated the stock with a hold rating, thirty have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $208.15.
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In related news, CAO Amie Thuener O'toole sold 1,367 shares of the business's stock in a transaction on Friday, November 1st. The shares were sold at an average price of $171.42, for a total value of $234,331.14. Following the transaction, the chief accounting officer now owns 26,349 shares in the company, valued at $4,516,745.58. The trade was a 4.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frances Arnold sold 441 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following the sale, the director now owns 16,490 shares of the company's stock, valued at approximately $2,820,779.40. The trade was a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 133,387 shares of company stock valued at $24,368,654. Company insiders own 11.55% of the company's stock.
Shares of Alphabet stock traded up $3.09 on Friday, hitting $196.00. The stock had a trading volume of 27,621,897 shares, compared to its average volume of 23,105,888. The stock has a 50 day moving average of $184.43 and a 200 day moving average of $173.42. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. Alphabet Inc. has a twelve month low of $130.66 and a twelve month high of $201.42. The firm has a market capitalization of $2.40 trillion, a P/E ratio of 25.99, a PEG ratio of 1.22 and a beta of 0.98.
Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion during the quarter, compared to analysts' expectations of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period in the prior year, the company posted $1.55 EPS. Sell-side analysts expect that Alphabet Inc. will post 8.03 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet's payout ratio is presently 10.61%.
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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