Rhumbline Advisers Has $2.12 Billion Stake in Alphabet Inc. (NASDAQ:GOOGL)

Rhumbline Advisers decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.9% during the 4th quarter, Holdings Channel reports. The firm owned 11,181,073 shares of the information services provider’s stock after selling 215,036 shares during the quarter. Alphabet comprises 1.9% of Rhumbline Advisers’ holdings, making the stock its 6th largest position. Rhumbline Advisers’ holdings in Alphabet were worth $2,116,577,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Clarity Wealth Advisors LLC boosted its position in shares of Alphabet by 0.6% during the 3rd quarter. Clarity Wealth Advisors LLC now owns 51,640 shares of the information services provider’s stock worth $8,565,000 after purchasing an additional 304 shares in the last quarter. Meridiem Investment Management Ltd. increased its position in Alphabet by 2.2% in the 3rd quarter. Meridiem Investment Management Ltd. now owns 678,543 shares of the information services provider’s stock valued at $112,562,000 after buying an additional 14,789 shares in the last quarter. Key Client Fiduciary Advisors LLC raised its stake in Alphabet by 3.5% during the 3rd quarter. Key Client Fiduciary Advisors LLC now owns 9,714 shares of the information services provider’s stock worth $1,611,000 after buying an additional 329 shares during the period. Integris Wealth Management LLC boosted its holdings in Alphabet by 18.1% in the third quarter. Integris Wealth Management LLC now owns 2,171 shares of the information services provider’s stock worth $360,000 after acquiring an additional 333 shares in the last quarter. Finally, Etesian Wealth Advisors Inc. boosted its holdings in Alphabet by 3.9% in the third quarter. Etesian Wealth Advisors Inc. now owns 8,384 shares of the information services provider’s stock worth $1,391,000 after acquiring an additional 312 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $170.41, for a total value of $232,950.47. Following the completion of the transaction, the chief accounting officer now directly owns 23,515 shares in the company, valued at approximately $4,007,191.15. The trade was a 5.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ruth Porat sold 17,690 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $183.48, for a total value of $3,245,761.20. Following the sale, the insider now owns 1,449,286 shares in the company, valued at approximately $265,914,995.28. This represents a 1.21 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 134,299 shares of company stock worth $25,055,751. 11.55% of the stock is owned by corporate insiders.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $172.73 on Thursday. Alphabet Inc. has a 1 year low of $130.66 and a 1 year high of $207.05. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The business has a fifty day simple moving average of $191.40 and a two-hundred day simple moving average of $176.11. The company has a market capitalization of $2.11 trillion, a P/E ratio of 21.46, a P/E/G ratio of 1.34 and a beta of 0.99.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping 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, analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is currently 9.94%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Royal Bank of Canada upped their target price on Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Truist Financial boosted their price target on shares of Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Bank of America reaffirmed a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a research note on Monday, December 23rd. Sanford C. Bernstein lifted their price objective on shares of Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a report on Wednesday, October 30th. Finally, DZ Bank lowered shares of Alphabet from a “buy” rating to a “hold” rating and set a $198.00 target price on the stock. in a report on Thursday, February 6th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $210.62.

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.