Alphabet Inc. (NASDAQ:GOOGL) is Corient Private Wealth LLC’s 6th Largest Position

Corient Private Wealth LLC increased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 5,302,698 shares of the information services provider’s stock after purchasing an additional 97,598 shares during the period. Alphabet makes up about 1.4% of Corient Private Wealth LLC’s portfolio, making the stock its 6th biggest position. Corient Private Wealth LLC’s holdings in Alphabet were worth $740,671,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. RWQ Financial Management Services Inc. lifted its position in shares of Alphabet by 8.2% in the 4th quarter. RWQ Financial Management Services Inc. now owns 61,499 shares of the information services provider’s stock worth $8,591,000 after purchasing an additional 4,664 shares during the period. Picton Mahoney Asset Management lifted its holdings in Alphabet by 55.4% during the fourth quarter. Picton Mahoney Asset Management now owns 214,443 shares of the information services provider’s stock worth $29,956,000 after buying an additional 76,410 shares during the period. Robbins Farley boosted its position in Alphabet by 0.8% during the 4th quarter. Robbins Farley now owns 15,006 shares of the information services provider’s stock valued at $2,096,000 after acquiring an additional 118 shares in the last quarter. Quantum Financial Advisors LLC increased its holdings in shares of Alphabet by 8.0% in the 3rd quarter. Quantum Financial Advisors LLC now owns 7,623 shares of the information services provider’s stock valued at $998,000 after acquiring an additional 564 shares during the period. Finally, Colton Groome Financial Advisors LLC raised its position in shares of Alphabet by 3.8% in the 4th quarter. Colton Groome Financial Advisors LLC now owns 2,700 shares of the information services provider’s stock worth $377,000 after acquiring an additional 100 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Alphabet Stock Up 0.8 %

GOOGL stock opened at $174.99 on Friday. Alphabet Inc. has a one year low of $115.35 and a one year high of $178.77. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. The firm’s fifty day moving average is $160.81 and its 200 day moving average is $146.81. The firm has a market cap of $2.16 trillion, a PE ratio of 26.84, a P/E/G ratio of 1.31 and a beta of 1.02.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The business had revenue of $80.54 billion for the quarter, compared to analyst estimates of $66.04 billion. During the same period in the prior year, the company posted $1.17 EPS. On average, research analysts forecast that Alphabet Inc. will post 7.61 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.46%. The ex-dividend date is Monday, June 10th.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. raised their price objective on Alphabet from $165.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Wells Fargo & Company raised their price target on shares of Alphabet from $141.00 to $168.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. Royal Bank of Canada boosted their price objective on shares of Alphabet from $155.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Rosenblatt Securities raised their target price on shares of Alphabet from $172.00 to $182.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Finally, Redburn Atlantic upped their price target on Alphabet from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Five equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $191.57.

Insider Activity

In other Alphabet news, CFO Ruth Porat sold 48,077 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the completion of the transaction, the chief financial officer now directly owns 1,777,106 shares in the company, valued at $243,854,485.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $173.22, for a total value of $3,897,450.00. Following the transaction, the chief executive officer now owns 2,258,011 shares in the company, valued at $391,132,665.42. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Ruth Porat sold 48,077 shares of Alphabet stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following the completion of the sale, the chief financial officer now directly owns 1,777,106 shares in the company, valued at $243,854,485.32. The disclosure for this sale can be found here. Insiders sold 205,935 shares of company stock worth $31,178,987 over the last three months. 11.55% of the stock is currently owned by corporate insiders.

Alphabet 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.