CHURCHILL MANAGEMENT Corp Has $42.86 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

CHURCHILL MANAGEMENT Corp cut its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 2.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 226,387 shares of the information services provider’s stock after selling 4,979 shares during the quarter. Alphabet comprises 0.5% of CHURCHILL MANAGEMENT Corp’s portfolio, making the stock its 23rd largest position. CHURCHILL MANAGEMENT Corp’s holdings in Alphabet were worth $42,855,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. LMR Partners LLP acquired a new stake in shares of Alphabet in the 3rd quarter valued at approximately $32,000. Denver PWM LLC acquired a new stake in Alphabet in the second quarter worth $41,000. Quarry LP bought a new position in shares of Alphabet during the second quarter worth $53,000. Teachers Insurance & Annuity Association of America acquired a new position in shares of Alphabet in the 3rd quarter valued at $66,000. Finally, Mendota Financial Group LLC increased its position in shares of Alphabet by 19.0% in the 3rd quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock valued at $67,000 after buying an additional 64 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insiders Place Their Bets

In other news, Director Frances Arnold sold 441 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $171.06, for a total transaction of $75,437.46. Following the sale, the director now directly owns 16,490 shares of the company’s stock, valued at approximately $2,820,779.40. This represents a 2.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $171.42, for a total value of $234,331.14. Following the completion of the transaction, the chief accounting officer now owns 26,349 shares in the company, valued at $4,516,745.58. The trade was a 4.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 133,387 shares of company stock worth $24,368,654 in the last quarter. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Trading Up 1.6 %

Shares of GOOGL stock opened at $196.00 on Friday. Alphabet Inc. has a 12-month low of $130.66 and a 12-month high of $201.42. The company has a market capitalization of $2.40 trillion, a PE ratio of 25.99, a price-to-earnings-growth ratio of 1.22 and a beta of 0.98. The firm has a 50 day moving average price of $184.08 and a two-hundred day moving average price of $173.33. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. During the same period last year, the firm posted $1.55 EPS. As a group, analysts predict that Alphabet Inc. will post 8.03 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s dividend payout ratio is 10.61%.

Wall Street Analyst Weigh In

Several research firms have weighed in on GOOGL. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. The Goldman Sachs Group reiterated a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a research report on Thursday, December 12th. JPMorgan Chase & Co. raised their target price on shares of Alphabet from $212.00 to $232.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. Piper Sandler reiterated an “overweight” rating and issued a $210.00 price target (up previously from $200.00) on shares of Alphabet in a report on Wednesday, October 30th. Finally, BMO Capital Markets restated an “outperform” rating and set a $217.00 price objective (up from $215.00) on shares of Alphabet in a report on Wednesday, October 30th. Nine investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and an average target price of $208.15.

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.