Beaumont Asset Management L.L.C. Raises Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Beaumont Asset Management L.L.C. raised its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,010 shares of the information services provider’s stock after acquiring an additional 562 shares during the period. Alphabet comprises approximately 3.2% of Beaumont Asset Management L.L.C.’s portfolio, making the stock its 5th biggest holding. Beaumont Asset Management L.L.C.’s holdings in Alphabet were worth $4,611,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of GOOGL. FMR LLC raised its holdings in Alphabet by 5.6% during the 3rd quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock valued at $29,746,764,000 after buying an additional 12,070,681 shares during the last quarter. Northern Trust Corp raised its holdings in Alphabet by 3.7% during the 3rd quarter. Northern Trust Corp now owns 67,684,197 shares of the information services provider’s stock valued at $8,857,154,000 after buying an additional 2,416,328 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Alphabet by 1.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 34,035,275 shares of the information services provider’s stock valued at $4,453,856,000 after buying an additional 335,219 shares during the last quarter. American Century Companies Inc. increased its position in Alphabet by 7.8% during the 3rd quarter. American Century Companies Inc. now owns 25,064,614 shares of the information services provider’s stock valued at $3,279,955,000 after purchasing an additional 1,809,910 shares during the period. Finally, Jennison Associates LLC increased its position in Alphabet by 9.3% during the 3rd quarter. Jennison Associates LLC now owns 24,145,417 shares of the information services provider’s stock valued at $3,159,669,000 after purchasing an additional 2,058,221 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Alphabet Trading Up 0.7 %

Alphabet stock opened at $163.86 on Thursday. The firm has a 50 day moving average of $149.22 and a 200 day moving average of $141.95. The firm has a market capitalization of $2.04 trillion, a price-to-earnings ratio of 25.13, a P/E/G ratio of 1.29 and a beta of 1.05. Alphabet Inc. has a 12-month low of $103.71 and a 12-month high of $174.71. The company has a current ratio of 2.15, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.40. The company had revenue of $80.54 billion during the quarter, compared to analyst estimates of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same period in the prior year, the firm posted $1.17 EPS. As a group, research analysts predict that Alphabet Inc. will post 7.49 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.49%. The ex-dividend date is Monday, June 10th.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $166.80, for a total value of $3,753,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,280,511 shares of the company’s stock, valued at approximately $380,389,234.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Alphabet news, Director John L. Hennessy sold 800 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $149.73, for a total transaction of $119,784.00. Following the completion of the sale, the director now directly owns 7,164 shares of the company’s stock, valued at approximately $1,072,665.72. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $166.80, for a total transaction of $3,753,000.00. Following the sale, the chief executive officer now directly owns 2,280,511 shares of the company’s stock, valued at $380,389,234.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 275,129 shares of company stock valued at $40,382,765. 0.88% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GOOGL. Barclays boosted their price objective on shares of Alphabet from $173.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Roth Mkm upped their target price on shares of Alphabet from $164.00 to $202.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Mizuho upped their target price on shares of Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Wells Fargo & Company upped their target price on shares of Alphabet from $141.00 to $168.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. Finally, UBS Group upped their target price on shares of Alphabet from $150.00 to $166.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Five analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $190.60.

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.