Abbrea Capital LLC Has $15.26 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Abbrea Capital LLC lifted its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 2.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 109,218 shares of the information services provider’s stock after acquiring an additional 3,044 shares during the period. Alphabet makes up approximately 2.2% of Abbrea Capital LLC’s portfolio, making the stock its 9th biggest position. Abbrea Capital LLC’s holdings in Alphabet were worth $15,257,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in GOOGL. FMR LLC raised its position in shares of Alphabet by 5.6% in the 3rd quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock worth $29,746,764,000 after acquiring an additional 12,070,681 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of Alphabet by 4,894.1% in the 4th quarter. International Assets Investment Management LLC now owns 5,445,396 shares of the information services provider’s stock worth $7,606,670,000 after acquiring an additional 5,336,359 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new position in shares of Alphabet in the 3rd quarter worth about $634,465,000. Ontario Teachers Pension Plan Board bought a new position in shares of Alphabet in the 3rd quarter worth about $601,545,000. Finally, Lone Pine Capital LLC bought a new position in shares of Alphabet in the 3rd quarter worth about $407,367,000. 40.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on GOOGL shares. BMO Capital Markets boosted their target price on Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Stifel Nicolaus boosted their target price on Alphabet from $174.00 to $196.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Redburn Atlantic boosted their target price on Alphabet from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Barclays boosted their target price on Alphabet from $173.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Finally, Morgan Stanley lifted their price target on Alphabet from $165.00 to $195.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Five equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $190.60.

Insider Buying and Selling

In other news, Director John L. Hennessy sold 300 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $139.51, for a total value of $41,853.00. Following the sale, the director now directly owns 9,291 shares of the company’s stock, valued at $1,296,187.41. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $166.80, for a total transaction of $3,753,000.00. Following the completion of the sale, the chief executive officer now owns 2,280,511 shares of the company’s stock, valued at $380,389,234.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John L. Hennessy sold 300 shares of Alphabet stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $139.51, for a total value of $41,853.00. Following the sale, the director now directly owns 9,291 shares of the company’s stock, valued at approximately $1,296,187.41. The disclosure for this sale can be found here. In the last quarter, insiders have sold 275,129 shares of company stock valued at $40,382,765. Corporate insiders own 0.88% of the company’s stock.

Alphabet Price Performance

NASDAQ GOOGL opened at $167.24 on Friday. The company has a market cap of $2.08 trillion, a PE ratio of 25.65, a price-to-earnings-growth ratio of 1.26 and a beta of 1.02. The company has a quick ratio of 2.10, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The firm’s 50-day simple moving average is $149.67 and its two-hundred day simple moving average is $142.12. Alphabet Inc. has a 52 week low of $103.97 and a 52 week high of $174.71.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The company had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $66.04 billion. During the same period in the prior year, the company posted $1.17 EPS. Research analysts predict that Alphabet Inc. will post 7.57 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend is Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

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.