Mark Asset Management LP Reduces Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Mark Asset Management LP trimmed its position in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 0.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 151,184 shares of the information services provider’s stock after selling 910 shares during the quarter. Alphabet comprises 2.8% of Mark Asset Management LP’s investment portfolio, making the stock its 14th biggest position. Mark Asset Management LP’s holdings in Alphabet were worth $21,119,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Cresset Asset Management LLC raised its stake in shares of Alphabet by 0.7% in the 4th quarter. Cresset Asset Management LLC now owns 1,607,418 shares of the information services provider’s stock valued at $224,540,000 after acquiring an additional 10,901 shares during the period. Unigestion Holding SA raised its position in Alphabet by 10.8% in the fourth quarter. Unigestion Holding SA now owns 14,182 shares of the information services provider’s stock valued at $1,981,000 after purchasing an additional 1,381 shares during the period. C Partners Holding GmbH lifted its stake in Alphabet by 22.1% during the fourth quarter. C Partners Holding GmbH now owns 173,429 shares of the information services provider’s stock worth $24,226,000 after purchasing an additional 31,351 shares in the last quarter. KPP Advisory Services LLC boosted its position in shares of Alphabet by 8.5% during the fourth quarter. KPP Advisory Services LLC now owns 11,054 shares of the information services provider’s stock worth $1,544,000 after buying an additional 865 shares during the period. Finally, American Trust Investment Advisors LLC raised its holdings in shares of Alphabet by 263.4% in the 4th quarter. American Trust Investment Advisors LLC now owns 41,293 shares of the information services provider’s stock valued at $5,768,000 after buying an additional 29,931 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on GOOGL shares. Wells Fargo & Company increased their price target on Alphabet from $141.00 to $168.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Stifel Nicolaus reiterated a “buy” rating and set a $196.00 price target on shares of Alphabet in a report on Wednesday, May 15th. Morgan Stanley reiterated an “overweight” rating and set a $195.00 target price on shares of Alphabet in a research note on Wednesday, May 15th. Roth Mkm raised their price target on Alphabet from $164.00 to $202.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Finally, Robert W. Baird increased their price objective on Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Five research analysts have rated the stock with a hold rating, thirty have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $191.71.

Read Our Latest Research Report on Alphabet

Alphabet Trading Up 0.3 %

Alphabet stock opened at $175.01 on Tuesday. The stock 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 1.01. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. The stock has a 50-day moving average price of $166.20 and a 200 day moving average price of $149.98. Alphabet Inc. has a 52 week low of $115.35 and a 52 week high of $178.77.

Alphabet (NASDAQ:GOOGLGet Free Report) last issued its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.49 by $0.40. The firm had revenue of $80.54 billion during the quarter, compared to analyst estimates of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same quarter in the prior year, the business posted $1.17 earnings per share. Equities research analysts predict that Alphabet Inc. will post 7.6 earnings per share for the current fiscal 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 dividend of $0.20 per share. The ex-dividend date is Monday, June 10th. This represents a $0.80 annualized dividend and a yield of 0.46%.

Insider Transactions at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $148.78, for a total transaction of $3,347,550.00. Following the transaction, the chief executive officer now owns 2,310,191 shares of the company’s stock, valued at approximately $343,710,216.98. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $148.78, for a total value of $3,347,550.00. Following the transaction, the chief executive officer now owns 2,310,191 shares of the company’s stock, valued at $343,710,216.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Kent Walker sold 12,084 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $151.19, for a total value of $1,826,979.96. Following the transaction, the insider now owns 48,717 shares of the company’s stock, valued at approximately $7,365,523.23. The disclosure for this sale can be found here. Over the last quarter, insiders sold 157,458 shares of company stock valued at $25,538,973. 11.55% of the stock is currently owned by corporate insiders.

About Alphabet

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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