Arrowstreet Capital Limited Partnership Has $186.90 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Arrowstreet Capital Limited Partnership boosted its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 987,316 shares of the information services provider’s stock after buying an additional 21,965 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Alphabet were worth $186,899,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. State Street Corp lifted its position in Alphabet by 0.3% during the 3rd quarter. State Street Corp now owns 222,555,548 shares of the information services provider’s stock worth $36,910,838,000 after acquiring an additional 743,369 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Alphabet by 2.0% in the third quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock worth $22,154,651,000 after purchasing an additional 2,626,431 shares during the period. Norges Bank acquired a new position in shares of Alphabet during the 4th quarter worth about $24,383,677,000. JPMorgan Chase & Co. grew its holdings in Alphabet by 7.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock valued at $10,559,240,000 after buying an additional 4,567,275 shares during the last quarter. Finally, Fisher Asset Management LLC increased its position in Alphabet by 1.5% in the 4th quarter. Fisher Asset Management LLC now owns 50,615,038 shares of the information services provider’s stock worth $9,581,427,000 after buying an additional 757,138 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on GOOGL. Morgan Stanley lowered their price objective on shares of Alphabet from $215.00 to $210.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. UBS Group set a $190.00 price objective on shares of Alphabet in a report on Thursday, March 27th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $205.00 price objective on shares of Alphabet in a research report on Wednesday, March 19th. Citigroup decreased their target price on Alphabet from $232.00 to $229.00 and set a “buy” rating on the stock in a research report on Wednesday, February 5th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $210.00 price target on shares of Alphabet in a report on Thursday, December 12th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and five have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $209.13.

Insider Buying and Selling at Alphabet

In related news, insider John Kent Walker sold 17,690 shares of Alphabet stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $185.51, for a total value of $3,281,671.90. Following the sale, the insider now owns 43,111 shares of the company’s stock, valued at approximately $7,997,521.61. This trade represents a 29.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $189.80, for a total value of $284,700.00. Following the transaction, the director now directly owns 21,824 shares of the company’s stock, valued at approximately $4,142,195.20. This trade represents a 6.43 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 119,797 shares of company stock valued at $21,089,470. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Price Performance

Shares of GOOGL stock opened at $146.75 on Tuesday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05. The firm has a fifty day moving average of $174.25 and a 200-day moving average of $176.82. The firm has a market capitalization of $1.79 trillion, a price-to-earnings ratio of 18.23, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. On average, equities research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders 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 annualized dividend and a yield of 0.55%. Alphabet’s dividend payout ratio (DPR) is currently 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.