Turim 21 Investimentos Ltda. Buys 2,604 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Turim 21 Investimentos Ltda. boosted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 651.0% in the fourth quarter, HoldingsChannel reports. The firm owned 3,004 shares of the information services provider’s stock after acquiring an additional 2,604 shares during the period. Alphabet makes up approximately 0.2% of Turim 21 Investimentos Ltda.’s holdings, making the stock its 21st largest holding. Turim 21 Investimentos Ltda.’s holdings in Alphabet were worth $613,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in GOOGL. FMR LLC boosted its holdings in shares of Alphabet by 9.8% in the fourth quarter. FMR LLC now owns 248,416,916 shares of the information services provider’s stock worth $47,025,322,000 after buying an additional 22,100,902 shares during the last quarter. Norges Bank purchased a new position in Alphabet during the fourth quarter valued at $24,383,677,000. Capital Research Global Investors grew its holdings in Alphabet by 16.2% during the fourth quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider’s stock valued at $13,635,878,000 after purchasing an additional 10,037,685 shares during the period. Wellington Management Group LLP increased its position in Alphabet by 15.9% in the fourth quarter. Wellington Management Group LLP now owns 66,050,135 shares of the information services provider’s stock worth $12,503,291,000 after buying an additional 9,042,271 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Alphabet by 7.7% in the third quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock worth $10,559,240,000 after buying an additional 4,567,275 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $156.16, for a total value of $5,075,200.00. Following the completion of the transaction, the chief executive officer now directly owns 2,685,196 shares of the company’s stock, valued at approximately $419,320,207.36. The trade was a 1.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ruth Porat sold 17,690 shares of the firm’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 completion of the sale, the insider now owns 1,449,286 shares in the company, valued at $265,914,995.28. This represents a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 148,163 shares of company stock valued at $25,361,647. 11.55% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of recent research reports. Needham & Company LLC reiterated a “buy” rating and set a $178.00 price objective on shares of Alphabet in a research note on Wednesday, April 16th. Cantor Fitzgerald decreased their price objective on shares of Alphabet from $200.00 to $159.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 16th. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $205.00 target price on shares of Alphabet in a report on Wednesday, March 19th. Westpark Capital upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday, April 1st. Finally, Citizens Jmp lowered Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Ten research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $200.74.

Alphabet Trading Up 2.6 %

Shares of GOOGL opened at $151.47 on Wednesday. The firm has a market capitalization of $1.85 trillion, a price-to-earnings ratio of 18.82, a PEG ratio of 1.34 and a beta of 1.03. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05. The company has a 50-day moving average of $163.72 and a 200 day moving average of $175.61.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. On average, research analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend was Monday, March 10th. 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.