Pathstone Holdings LLC Has $163.62 Million Holdings in Alphabet Inc. (NASDAQ:GOOG)

Pathstone Holdings LLC lessened its stake in Alphabet Inc. (NASDAQ:GOOG) by 4.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 858,646 shares of the information services provider’s stock after selling 37,626 shares during the quarter. Alphabet comprises about 0.7% of Pathstone Holdings LLC’s investment portfolio, making the stock its 23rd largest holding. Pathstone Holdings LLC’s holdings in Alphabet were worth $163,620,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. FMR LLC lifted its stake in Alphabet by 2.8% in the fourth quarter. FMR LLC now owns 117,991,725 shares of the information services provider’s stock valued at $22,470,344,000 after buying an additional 3,189,592 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Alphabet by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 104,777,092 shares of the information services provider’s stock worth $19,894,651,000 after acquiring an additional 1,219,606 shares during the period. Capital International Investors raised its holdings in shares of Alphabet by 6.7% during the fourth quarter. Capital International Investors now owns 91,236,069 shares of the information services provider’s stock worth $17,376,706,000 after acquiring an additional 5,758,244 shares during the period. Northern Trust Corp lifted its position in Alphabet by 16.1% in the 4th quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider’s stock valued at $10,873,751,000 after acquiring an additional 7,917,625 shares in the last quarter. Finally, Capital Research Global Investors boosted its stake in Alphabet by 0.8% in the 4th quarter. Capital Research Global Investors now owns 39,148,500 shares of the information services provider’s stock worth $7,455,571,000 after purchasing an additional 294,556 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Insiders Place Their Bets

In other news, insider Ruth Porat sold 17,690 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $155.90, for a total transaction of $5,066,750.00. Following the transaction, the chief executive officer now directly owns 2,652,696 shares in the company, valued at $413,555,306.40. This trade represents a 1.21% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 179,324 shares of company stock worth $30,153,353. Corporate insiders own 12.99% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOG opened at $160.89 on Wednesday. The company has a market capitalization of $1.95 trillion, a PE ratio of 19.99, a P/E/G ratio of 1.34 and a beta of 1.01. 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 twelve month low of $142.66 and a twelve month high of $208.70. The firm has a fifty day simple moving average of $160.39 and a 200 day simple moving average of $176.86.

Alphabet (NASDAQ:GOOG) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The firm had revenue of $90.23 billion during the quarter, compared to analyst estimates of $89.30 billion. During the same period last year, the company posted $1.89 EPS. The business’s quarterly revenue was up 12.0% on a year-over-year basis. On average, sell-side analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be paid a $0.21 dividend. The ex-dividend date is Monday, June 9th. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.52%. Alphabet’s payout ratio is 9.36%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on GOOG. The Goldman Sachs Group reiterated a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. Morgan Stanley reaffirmed an “overweight” rating on shares of Alphabet in a research report on Wednesday, February 5th. Westpark Capital reiterated a “buy” rating and set a $210.00 price objective on shares of Alphabet in a report on Friday, April 25th. JPMorgan Chase & Co. lifted their target price on Alphabet from $180.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, April 25th. Finally, KeyCorp reduced their price target on Alphabet from $202.00 to $185.00 and set an “overweight” rating for the company in a research report on Wednesday, April 9th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have assigned a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $203.94.

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.