Martingale Asset Management L P Has $59.88 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Martingale Asset Management L P reduced its stake in Alphabet Inc. (NASDAQ:GOOGL) by 7.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 316,333 shares of the information services provider’s stock after selling 24,117 shares during the period. Alphabet makes up approximately 1.5% of Martingale Asset Management L P’s holdings, making the stock its largest holding. Martingale Asset Management L P’s holdings in Alphabet were worth $59,882,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of GOOGL. Principal Financial Group Inc. grew its position in Alphabet by 3.1% during the 3rd quarter. Principal Financial Group Inc. now owns 11,283,594 shares of the information services provider’s stock worth $1,871,384,000 after acquiring an additional 337,031 shares during the last quarter. Voyager Global Management LP grew its holdings in shares of Alphabet by 55.9% during the third quarter. Voyager Global Management LP now owns 2,650,000 shares of the information services provider’s stock worth $439,502,000 after purchasing an additional 950,000 shares during the last quarter. Virtus Investment Advisers Inc. increased its stake in shares of Alphabet by 13.2% in the third quarter. Virtus Investment Advisers Inc. now owns 4,960 shares of the information services provider’s stock valued at $823,000 after buying an additional 580 shares in the last quarter. Kovitz Investment Group Partners LLC raised its holdings in shares of Alphabet by 25.8% in the third quarter. Kovitz Investment Group Partners LLC now owns 1,049,980 shares of the information services provider’s stock valued at $159,156,000 after buying an additional 215,469 shares during the last quarter. Finally, Insigneo Advisory Services LLC lifted its position in Alphabet by 1.1% during the 3rd quarter. Insigneo Advisory Services LLC now owns 96,319 shares of the information services provider’s stock worth $15,975,000 after buying an additional 1,045 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the completion of the transaction, the chief executive officer now directly owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. The trade was a 1.18 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total value of $33,106.00. Following the transaction, the director now directly owns 7,813 shares in the company, valued at $1,293,285.89. The trade was a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 118,497 shares of company stock worth $20,837,150 in the last 90 days. Corporate insiders own 11.55% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on GOOGL shares. DZ Bank cut shares of Alphabet from a “buy” rating to a “hold” rating and set a $198.00 price objective for the company. in a research report on Thursday, February 6th. Cantor Fitzgerald restated a “neutral” rating and issued a $200.00 price objective on shares of Alphabet in a research report on Wednesday, March 19th. Wolfe Research increased their price objective on Alphabet from $220.00 to $230.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Needham & Company LLC reaffirmed a “buy” rating and set a $225.00 price target on shares of Alphabet in a research note on Wednesday, February 5th. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $205.00 price objective on shares of Alphabet in a research report on Wednesday, March 19th. Ten 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. According to data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average price target of $205.49.

Alphabet Stock Performance

Shares of GOOGL stock opened at $159.07 on Tuesday. The firm has a market cap of $1.94 trillion, a PE ratio of 19.76, a P/E/G ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05. The company’s fifty day simple moving average is $167.87 and its 200-day simple moving average is $176.28. 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 (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping 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 expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.50%. Alphabet’s dividend payout ratio is 9.94%.

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.