Connors Investor Services Inc. Has $19.23 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Connors Investor Services Inc. increased its position in Alphabet Inc. (NASDAQ:GOOGL) by 1.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 101,594 shares of the information services provider’s stock after acquiring an additional 1,786 shares during the quarter. Alphabet comprises about 1.8% of Connors Investor Services Inc.’s investment portfolio, making the stock its 11th biggest position. Connors Investor Services Inc.’s holdings in Alphabet were worth $19,232,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the business. FMR LLC grew its holdings in shares of Alphabet by 9.8% in the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider’s stock valued at $47,025,322,000 after buying an additional 22,100,902 shares during the period. Norges Bank bought a new position in shares of Alphabet during the 4th quarter worth approximately $24,383,677,000. Price T Rowe Associates Inc. MD raised its stake in Alphabet by 8.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 98,638,127 shares of the information services provider’s stock valued at $18,672,198,000 after acquiring an additional 7,574,417 shares during the period. Capital Research Global Investors lifted its stake in shares of Alphabet by 16.2% during 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 buying an additional 10,037,685 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Alphabet by 17.0% during the 4th quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider’s stock worth $13,178,470,000 after acquiring an additional 10,135,430 shares during the period. 40.03% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Alphabet news, insider John Kent Walker sold 17,690 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $185.51, for a total value of $3,281,671.90. Following the sale, the insider now directly owns 43,111 shares of the company’s stock, valued at approximately $7,997,521.61. This trade represents a 29.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,340 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $202.08, for a total transaction of $270,787.20. Following the transaction, the chief accounting officer now directly owns 17,848 shares of the company’s stock, valued at approximately $3,606,723.84. This represents a 6.98 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 148,163 shares of company stock worth $25,361,647. 11.55% of the stock is owned by insiders.

Alphabet Price Performance

NASDAQ:GOOGL opened at $160.16 on Wednesday. The stock has a 50 day moving average price of $161.20 and a 200 day moving average price of $175.49. The stock has a market cap of $1.95 trillion, a PE ratio of 19.90, a P/E/G ratio of 1.34 and a beta of 1.03. 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 one year low of $140.53 and a one year high of $207.05.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The company had revenue of $76.49 billion during the quarter, compared to analysts’ expectations of $89.30 billion. During the same quarter in the previous year, the business earned $1.89 earnings per share. Equities research analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.52%. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. Alphabet’s dividend payout ratio (DPR) is 9.36%.

Analysts Set New Price Targets

Several brokerages have commented on GOOGL. Wells Fargo & Company boosted their target price on Alphabet from $167.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Friday, April 25th. Truist Financial decreased their target price on Alphabet from $220.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. KeyCorp increased their price target on Alphabet from $185.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, April 25th. Cantor Fitzgerald lowered their price objective on Alphabet from $200.00 to $159.00 and set a “neutral” rating for the company in a research note on Wednesday, April 16th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $178.00 target price on shares of Alphabet in a research report on Friday, April 25th. Ten equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and five have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $198.89.

About Alphabet

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.