Dundas Partners Increases Stake in Alphabet Inc.

Dundas Partners LLP has raised its investment in Alphabet Inc. (NASDAQ:GOOG) by 10.3% during the fourth quarter, as reported in their latest filing with the Securities and Exchange Commission (SEC). The institutional investor now holds 301,749 shares of the information services provider's stock, having acquired an additional 28,224 shares throughout the period. This investment makes up approximately 4.0% of Dundas Partners LLP's overall portfolio, positioning Alphabet as its fifth largest holding. The total value of Dundas Partners LLP's stake in Alphabet is estimated at $57,465,000 at the end of this reporting period.

Other Hedge Fund Activities

Besides Dundas Partners, other hedge funds have also adjusted their positions in Alphabet. For instance, Sterling Financial Planning Inc. increased its Alphabet holdings by 2.6% during the fourth quarter, now owning 1,941 shares worth $370,000 after buying an additional 50 shares. Similarly, Arlington Trust Co LLC raised its Alphabet shares by 0.4%, bringing their total to 14,423 shares valued at $2,747,000 after acquiring 52 more shares. Harrell Investment Partners LLC added 0.9% more to their stake, owning now 5,659 shares worth approximately $1,078,000 after an additional purchase of 53 shares. Ethos Financial Group LLC saw a 0.7% increase, now holding 7,300 shares valued at $1,395,000 after buying 53 shares. Redhawk Wealth Advisors Inc. also raised its stake by 1.1%, bringing its total to 5,073 shares valued at $966,000 after purchasing 54 shares in the last quarter. Overall, hedge funds and institutional investors own about 27.26% of Alphabet's stock.

Insider Transactions

In related news, insider Ruth Porat sold 17,690 shares of Alphabet stock on February 21, at an average price of $183.48. This sale amounted to $3,245,761.20, and following this transaction, Porat now holds 1,449,286 shares valued at approximately $265,914,995.28, reflecting a 1.21% decrease in her ownership. Additionally, CAO Amie Thuener O'toole sold 1,374 shares of Alphabet on March 3, at an average price of $173.47, totaling $238,347.78. After this sale, she holds 15,024 shares valued at $2,606,213.28, which is an 8.38% decrease in her position. Insiders have sold a total of 134,316 shares, equating to $25,062,887 in the last three months, with insiders currently owning 12.99% of the company's stock.

Alphabet Stock Performance Overview

As of Monday, shares of NASDAQ:GOOG opened at $175.75. The company has a quick ratio and a current ratio of 1.84, along with a debt-to-equity ratio of 0.03. Alphabet's market capitalization stands at $2.14 trillion, and it has a price-to-earnings ratio of 21.83, a PEG ratio of 1.34, and a beta of 1.03. The company's fifty-day simple moving average is $189.85, and the 200-day simple moving average is $178.07. Over the past year, Alphabet’s stock has reached a low of $134.80 and a high of $208.70.

Dividend Announcement

Recently, Alphabet announced a quarterly dividend scheduled to be paid on March 17. Shareholders recorded as of March 10 will receive a dividend of $0.20 per share, resulting in an annualized dividend of $0.80 and a yield of 0.46%. The ex-dividend date is also set for March 10, and Alphabet's payout ratio is 9.94%.

Market Analyst Opinions

Several brokerages have provided insights on Alphabet's stock. Needham & Company LLC reaffirmed a "buy" rating on February 5. Meanwhile, Morgan Stanley maintained an "overweight" rating, while Wedbush set a target price of $220.00. Oppenheimer increased its target from $215.00 to $225.00 and gave Alphabet an "outperform" rating. Additionally, Benchmark maintained a "negative" rating in their analysis. The current rating landscape includes one sell rating, six hold ratings, fourteen buy ratings, and three strong buy ratings for Alphabet. Data from MarketBeat shows that Alphabet has an average rating of "Moderate Buy" and a target price of $209.13.

About Alphabet Inc.

Alphabet Inc. engages in various sectors globally, providing different products and platforms throughout the United States, Europe, and other regions, through segments such as Google Services, Google Cloud, and Other Bets. The Google Services segment includes products and services such as ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

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