Bank OZK Reduces Stake in Alphabet Inc. (NASDAQ:GOOG)

Bank OZK decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOGFree Report) by 16.0% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,272 shares of the information services provider’s stock after selling 432 shares during the period. Bank OZK’s holdings in Alphabet were worth $433,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. FMR LLC raised its holdings in shares of Alphabet by 5.2% in the 3rd quarter. FMR LLC now owns 114,802,133 shares of the information services provider’s stock valued at $19,193,768,000 after acquiring an additional 5,655,022 shares in the last quarter. Proficio Capital Partners LLC raised its holdings in shares of Alphabet by 5,712.8% in the 4th quarter. Proficio Capital Partners LLC now owns 4,367,831 shares of the information services provider’s stock valued at $831,810,000 after acquiring an additional 4,292,689 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Alphabet by 10.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 33,334,082 shares of the information services provider’s stock valued at $5,573,125,000 after acquiring an additional 3,113,395 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Alphabet by 182.1% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,526,055 shares of the information services provider’s stock valued at $422,331,000 after acquiring an additional 1,630,701 shares in the last quarter. Finally, Jennison Associates LLC raised its holdings in shares of Alphabet by 9.1% in the 3rd quarter. Jennison Associates LLC now owns 15,424,324 shares of the information services provider’s stock valued at $2,578,793,000 after acquiring an additional 1,291,274 shares in the last quarter. Hedge funds and other institutional investors own 27.26% of the company’s stock.

Alphabet Stock Performance

Alphabet stock opened at $168.66 on Tuesday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm has a 50-day moving average of $191.63 and a 200-day moving average of $177.88. The firm has a market cap of $2.06 trillion, a P/E ratio of 20.95, a P/E/G ratio of 1.34 and a beta of 1.00. Alphabet Inc. has a 1-year low of $131.55 and a 1-year high of $208.70.

Alphabet (NASDAQ:GOOGGet Free Report) last posted its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share 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%. Sell-side analysts expect that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. Alphabet’s dividend payout ratio is currently 9.94%.

Insider Transactions at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 37,134 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total value of $6,870,532.68. Following the completion of the sale, the director now directly owns 282,832 shares in the company, valued at $52,329,576.64. This trade represents a 11.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 1,374 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $173.47, for a total transaction of $238,347.78. Following the completion of the sale, the chief accounting officer now owns 15,024 shares of the company’s stock, valued at $2,606,213.28. This trade represents a 8.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 134,316 shares of company stock worth $25,062,887. Company insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. Scotiabank raised their price target on Alphabet from $212.00 to $240.00 and gave the company a “sector outperform” rating in a report on Friday, January 24th. Morgan Stanley reissued an “overweight” rating on shares of Alphabet in a report on Wednesday, February 5th. Benchmark restated a “negative” rating on shares of Alphabet in a research report on Wednesday, February 5th. Finally, Citizens Jmp cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $209.13.

Read Our Latest Stock Report on GOOG

Alphabet Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOG)

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