Alphabet Inc. (NASDAQ:GOOGL) Shares Acquired by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. increased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 6.7% in the 4th quarter, HoldingsChannel reports. The firm owned 468,443 shares of the information services provider’s stock after purchasing an additional 29,303 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Alphabet were worth $88,676,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Ascent Capital Management LLC acquired a new stake in shares of Alphabet in the 4th quarter valued at $789,000. Ironsides Asset Advisors LLC increased its holdings in Alphabet by 32.1% in the fourth quarter. Ironsides Asset Advisors LLC now owns 2,951 shares of the information services provider’s stock valued at $559,000 after buying an additional 717 shares during the last quarter. Hutchinson Capital Management CA raised its stake in Alphabet by 1.3% in the fourth quarter. Hutchinson Capital Management CA now owns 146,795 shares of the information services provider’s stock valued at $27,788,000 after buying an additional 1,885 shares in the last quarter. Long Walk Management LP purchased a new stake in Alphabet during the 4th quarter worth about $20,101,000. Finally, one8zero8 LLC acquired a new position in shares of Alphabet during the 4th quarter worth about $980,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

GOOGL stock opened at $162.24 on Friday. The stock’s 50 day moving average price is $180.49 and its 200 day moving average price is $176.68. The firm has a market cap of $1.98 trillion, a P/E ratio of 20.15, a PEG ratio of 1.34 and a beta of 1.02. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. Alphabet Inc. has a 1 year low of $147.22 and a 1 year high of $207.05.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (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 fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. Alphabet’s dividend payout ratio is currently 9.94%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. JMP Securities reissued a “market perform” rating on shares of Alphabet in a research report on Wednesday, February 5th. Wells Fargo & Company boosted their price objective on shares of Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. Citizens Jmp cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Citigroup cut their price target on shares of Alphabet from $232.00 to $229.00 and set a “buy” rating on the stock in a research note on Wednesday, February 5th. Finally, Wedbush upped their price objective on shares of Alphabet from $210.00 to $220.00 and gave the company an “outperform” rating in a research note on Monday, January 6th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $210.59.

Insider Transactions at Alphabet

In other news, insider John Kent Walker sold 11,764 shares of Alphabet stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $166.84, for a total value of $1,962,705.76. Following the completion of the sale, the insider now owns 49,037 shares of the company’s stock, valued at $8,181,333.08. The trade was a 19.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 1,368 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total value of $262,040.40. Following the completion of the transaction, the chief accounting officer now owns 20,681 shares of the company’s stock, valued at $3,961,445.55. The trade was a 6.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 104,812 shares of company stock worth $19,336,979 over the last ninety days. 11.55% of the stock is currently owned by corporate insiders.

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.