Alphabet Inc. (NASDAQ:GOOGL) is Corient Private Wealth LLC’s 9th Largest Position

Corient Private Wealth LLC grew its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 8.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,428,628 shares of the information services provider’s stock after acquiring an additional 420,575 shares during the quarter. Alphabet comprises about 1.7% of Corient Private Wealth LLC’s investment portfolio, making the stock its 9th biggest holding. Corient Private Wealth LLC’s holdings in Alphabet were worth $1,022,040,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in GOOGL. Compass Planning Associates Inc purchased a new stake in Alphabet during the fourth quarter valued at approximately $30,000. LMR Partners LLP purchased a new position in Alphabet during the third quarter valued at $32,000. E Fund Management Hong Kong Co. Ltd. grew its holdings in Alphabet by 518.8% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock valued at $37,000 after purchasing an additional 166 shares during the period. Fiduciary Advisors Inc. purchased a new stake in Alphabet in the fourth quarter worth about $39,000. Finally, PayPay Securities Corp raised its stake in shares of Alphabet by 36.1% in the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after buying an additional 65 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Roth Mkm reiterated a “buy” rating and set a $220.00 price objective on shares of Alphabet in a research note on Wednesday, March 19th. Wolfe Research upped their price target on shares of Alphabet from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Cantor Fitzgerald reissued a “neutral” rating and issued a $200.00 price objective on shares of Alphabet in a research note on Wednesday, March 19th. Needham & Company LLC restated a “buy” rating and set a $225.00 target price on shares of Alphabet in a research note on Wednesday, February 5th. Finally, Bank of America reiterated a “buy” rating and issued a $210.00 price target on shares of Alphabet in a research note on Monday, December 23rd. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus target price of $210.59.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 16,820 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the transaction, the insider now directly owns 43,981 shares in the company, valued at $8,471,620.22. This represents a 27.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 29,066 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $184.89, for a total transaction of $5,374,012.74. Following the completion of the sale, the director now owns 272,466 shares of the company’s stock, valued at approximately $50,376,238.74. This represents a 9.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 104,812 shares of company stock valued at $19,336,979 in the last three months. Company insiders own 11.55% of the company’s stock.

Alphabet Trading Down 1.7 %

Shares of NASDAQ GOOGL opened at $162.24 on Friday. Alphabet Inc. has a fifty-two week low of $147.22 and a fifty-two week high of $207.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The company has a market cap of $1.98 trillion, a price-to-earnings ratio of 20.15, a PEG ratio of 1.34 and a beta of 1.02. The business’s 50 day moving average price is $180.49 and its 200-day moving average price is $176.68.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. On average, sell-side analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. Alphabet’s payout ratio is 9.94%.

About Alphabet

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.