Hemenway Trust Co LLC Acquires 525 Shares of Alphabet Inc. (NASDAQ:GOOG)

Hemenway Trust Co LLC raised its holdings in Alphabet Inc. (NASDAQ:GOOG) by 6.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,610 shares of the information services provider’s stock after acquiring an additional 525 shares during the quarter. Hemenway Trust Co LLC’s holdings in Alphabet were worth $1,640,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Norges Bank bought a new position in Alphabet during the fourth quarter valued at about $5,166,070,000. Raymond James Financial Inc. bought a new position in shares of Alphabet in the 4th quarter valued at approximately $1,551,533,000. GQG Partners LLC lifted its holdings in Alphabet by 181,679.1% in the 4th quarter. GQG Partners LLC now owns 7,225,721 shares of the information services provider’s stock worth $1,376,066,000 after purchasing an additional 7,221,746 shares during the last quarter. Proficio Capital Partners LLC boosted its position in Alphabet by 5,712.8% during the fourth quarter. Proficio Capital Partners LLC now owns 4,367,831 shares of the information services provider’s stock worth $831,810,000 after purchasing an additional 4,292,689 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new position in Alphabet during the fourth quarter valued at approximately $328,018,000. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analyst Ratings Changes

GOOG has been the subject of a number of analyst reports. Benchmark restated a “negative” rating on shares of Alphabet in a research note on Wednesday, February 5th. Westpark Capital assumed coverage on shares of Alphabet in a report on Tuesday. They set a “buy” rating and a $210.00 price target for the company. Wedbush reaffirmed an “outperform” rating and issued a $220.00 price target on shares of Alphabet in a research report on Thursday, January 30th. Cantor Fitzgerald reissued a “neutral” rating and set a $200.00 price objective on shares of Alphabet in a research report on Wednesday, March 19th. Finally, Oppenheimer raised their target price on Alphabet from $215.00 to $225.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. One analyst has rated the stock with a sell rating, six have given a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $208.65.

Insider Buying and Selling at Alphabet

In related news, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $189.80, for a total value of $284,700.00. Following the completion of the sale, the director now owns 21,824 shares of the company’s stock, valued at $4,142,195.20. This trade represents a 6.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 2,834 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $194.32, for a total value of $550,702.88. Following the transaction, the chief accounting officer now directly owns 17,847 shares in the company, valued at approximately $3,468,029.04. This represents a 13.70 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 119,797 shares of company stock worth $21,089,470. 12.99% of the stock is currently owned by insiders.

Alphabet Stock Down 3.2 %

Shares of NASDAQ:GOOG opened at $147.74 on Friday. The company’s fifty day moving average is $177.04 and its 200-day moving average is $178.30. 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 52 week low of $147.54 and a 52 week high of $208.70. The company has a market capitalization of $1.80 trillion, a PE ratio of 18.35, a P/E/G ratio of 1.34 and a beta of 1.04.

Alphabet (NASDAQ:GOOG) last released its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Equities research analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors 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 dividend on an annualized basis and a yield of 0.54%. Alphabet’s dividend payout ratio is 9.94%.

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.