Loomis Sayles & Co. Reduces Holdings in Alphabet Inc.

Loomis Sayles & Co. L P has reduced its investment in Alphabet Inc. (NASDAQ:GOOG) by 15.8% during the fourth quarter, as reported in its latest Form 13F filed with the Securities and Exchange Commission. After selling 737,793 shares during this period, the firm now owns a total of 3,918,961 shares in the tech giant. Alphabet makes up a significant portion of Loomis Sayles & Co. L P's portfolio, accounting for 80.6% and positioning it as the firm's 22nd largest holding. According to the recent filing, Loomis Sayles & Co. L P holds shares valued at approximately $746,327,000.

Investment Movements by Other Firms

Additionally, several other institutional investors and hedge funds have also adjusted their positions in Alphabet. For instance, AssuredPartners Investment Advisors LLC acquired a new stake in Alphabet worth about $2,133,000 in the fourth quarter. Similarly, NEOS Investment Management LLC increased its holdings in Alphabet by 21.8%, now owning 403,102 shares valued at $76,767,000 after acquiring an extra 72,185 shares during the same timeframe. UniSuper Management Pty Ltd raised its investments in Alphabet by 2.0%, now holding 1,424,338 shares worth $271,251,000 following their purchase of an additional 28,171 shares last quarter. Moment Partners LLC and Sava Infond d.o.o. also made new investments in Alphabet, worth approximately $659,000 and $429,000, respectively. As a whole, institutional investors own 27.26% of Alphabet's stock.

Insider Trading Activities

In related news, Director John L. Hennessy recently sold 200 shares of Alphabet stock on March 13th at an average price of $165.53, totaling $33,106. After this transaction, he now owns 7,813 shares worth about $1,293,285.89, reflecting a 2.50% decrease in his ownership. Another insider, CAO Amie Thuener O'toole, sold 1,368 shares on January 2nd at an average price of $191.55, bringing the total value of her sale to $262,040.40. Post-transaction, she retains ownership of 20,681 shares valued at approximately $3,961,445.55. In total, insiders have sold 93,048 shares valued at $17,374,274 over the last quarter, with insiders holding 12.99% of the company’s stock.

Analyst Ratings Updates

Alphabet has been the focus of various analyst reports lately. Wedbush maintained an "outperform" rating, setting a target price of $220.00, while Citizens Jmp downgraded the stock from a "strong-buy" to a "hold." On the other hand, Scotiabank raised its price target for Alphabet from $212.00 to $240.00, labeling it a "sector outperform". Rosenblatt Securities affirmed a "neutral" stance while Needham & Company LLC reiterated its "buy" rating. Currently, one analyst rates the stock as a sell, six as a hold, fourteen as a buy, and three as a strong buy. The consensus rating for Alphabet is a "Moderate Buy" with a target price of $209.13 according to MarketBeat.com.

Stock Performance and Financial Overview

As of Thursday, GOOG stock opened at $167.14. Over the past twelve months, Alphabet has seen a low of $148.20 and a high of $208.70, with a market capitalization of $2.04 trillion. The company has a price-to-earnings ratio of 20.76 and a price-to-earnings-growth ratio of 1.34, along with a beta of 1.03. The quick ratio and current ratio both stand at 1.84, while its debt-to-equity ratio is very low at 0.03. Alphabet's fifty-day simple moving average is $182.96, and its two-hundred day moving average is $178.36.

Recent Dividend Announcement

Alphabet has also recently announced a quarterly dividend of $0.20 per share, which was paid out on March 17th to investors on record as of March 10th. This translates to an annualized dividend of $0.80 and a yield of 0.48%. The company’s current payout ratio is approximately 9.94%.

Overview of Alphabet Inc.

Alphabet Inc. provides various products and services globally, operating through segments such as Google Services, Google Cloud, and Other Bets. The Google Services segment encompasses a range of offerings, including advertising, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.

Alphabet, Investment, Insider