Quantinno Capital Management LP Raises Stake in Alphabet Inc. (NASDAQ:GOOGL)

Quantinno Capital Management LP grew its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 33.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 851,433 shares of the information services provider’s stock after purchasing an additional 212,356 shares during the quarter. Alphabet makes up 1.6% of Quantinno Capital Management LP’s investment portfolio, making the stock its 6th largest holding. Quantinno Capital Management LP’s holdings in Alphabet were worth $161,176,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Alphabet in the 4th quarter worth approximately $24,383,677,000. FMR LLC lifted its position in Alphabet by 9.8% during the fourth quarter. FMR LLC now owns 248,416,916 shares of the information services provider’s stock valued at $47,025,322,000 after purchasing an additional 22,100,902 shares during the period. Northern Trust Corp grew its stake in shares of Alphabet by 17.0% during the 4th quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider’s stock valued at $13,178,470,000 after purchasing an additional 10,135,430 shares during the period. Capital Research Global Investors increased its stake in shares of Alphabet by 16.2% in the 4th quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider’s stock worth $13,635,878,000 after purchasing an additional 10,037,685 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of 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 purchasing an additional 9,042,271 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Performance

Shares of Alphabet stock opened at $159.53 on Wednesday. The firm has a market capitalization of $1.94 trillion, a price-to-earnings ratio of 19.82, a PEG ratio of 1.34 and a beta of 1.01. The business has a 50-day simple moving average of $158.38 and a 200 day simple moving average of $175.12. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. 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 (NASDAQ:GOOGL) last posted its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The company had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same quarter in the previous year, the firm posted $1.89 earnings per share. On average, research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 0.53%. This is an increase from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. Alphabet’s dividend payout ratio is 9.36%.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Rosenblatt Securities decreased their price objective on Alphabet from $205.00 to $189.00 and set a “neutral” rating on the stock in a report on Friday, April 25th. Susquehanna reduced their price target on shares of Alphabet from $225.00 to $220.00 and set a “positive” rating for the company in a report on Friday, April 25th. KeyCorp upped their target price on Alphabet from $185.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, April 25th. Bank of America raised their price objective on Alphabet from $185.00 to $200.00 and gave the company a “buy” rating in a report on Friday, April 25th. Finally, Jefferies Financial Group decreased their price target on shares of Alphabet from $235.00 to $200.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Ten investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $199.75.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the sale, the chief executive officer now directly owns 2,717,696 shares in the company, valued at $430,917,877.76. This represents a 1.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 2,824 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $187.43, for a total transaction of $529,302.32. Following the completion of the sale, the chief accounting officer now directly owns 15,024 shares of the company’s stock, valued at approximately $2,815,948.32. This trade represents a 15.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 179,324 shares of company stock worth $30,153,353. 11.64% of the stock is currently owned by company insiders.

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.