Grace & Mercy Foundation Inc. Has $65.36 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Grace & Mercy Foundation Inc. trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 6.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 345,270 shares of the information services provider’s stock after selling 23,530 shares during the period. Alphabet comprises approximately 14.7% of Grace & Mercy Foundation Inc.’s investment portfolio, making the stock its 2nd largest holding. Grace & Mercy Foundation Inc.’s holdings in Alphabet were worth $65,360,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Compass Planning Associates Inc bought a new stake in Alphabet in the 4th quarter valued at about $30,000. E Fund Management Hong Kong Co. Ltd. lifted its stake in shares of Alphabet by 518.8% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock valued at $37,000 after buying an additional 166 shares in the last quarter. Fiduciary Advisors Inc. bought a new position in Alphabet in the 4th quarter worth approximately $39,000. PayPay Securities Corp grew its stake in Alphabet by 36.1% in the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after buying an additional 65 shares in the last quarter. Finally, Anderson Financial Strategies LLC purchased a new stake in shares of Alphabet during the fourth quarter worth $49,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Performance

Shares of GOOGL stock opened at $152.75 on Friday. 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 company’s fifty day moving average price is $158.93 and its 200-day moving average price is $175.10. The stock has a market cap of $1.85 trillion, a PE ratio of 18.98, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05.

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

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be paid a dividend of $0.21 per share. This is a boost from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.55%. Alphabet’s payout ratio is presently 9.36%.

Analyst Ratings Changes

GOOGL has been the topic of a number of analyst reports. Citigroup boosted their price objective on Alphabet from $195.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, April 25th. Susquehanna cut their price objective on shares of Alphabet from $225.00 to $220.00 and set a “positive” rating for the company in a research report on Friday, April 25th. Piper Sandler raised their price target on shares of Alphabet from $185.00 to $195.00 and gave the company an “overweight” rating in a report on Friday, April 25th. Bank of America upped their price objective on shares of Alphabet from $185.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, April 25th. Finally, Westpark Capital reiterated a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research report on Thursday. Ten equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $199.75.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $155.90, for a total value of $5,066,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,652,696 shares in the company, valued at $413,555,306.40. The trade was a 1.21 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 673 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total value of $104,537.09. Following the sale, the chief accounting officer now owns 15,303 shares in the company, valued at approximately $2,377,014.99. This represents a 4.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 179,324 shares of company stock valued at $30,153,353. 11.64% of the stock is currently owned by corporate insiders.

Alphabet Company 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.