CCM Investment Advisers LLC Has $29.51 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

CCM Investment Advisers LLC grew its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 155,896 shares of the information services provider’s stock after buying an additional 1,307 shares during the quarter. Alphabet accounts for approximately 3.3% of CCM Investment Advisers LLC’s investment portfolio, making the stock its 5th largest holding. CCM Investment Advisers LLC’s holdings in Alphabet were worth $29,511,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. State Street Corp grew its stake in shares of Alphabet by 0.3% during the third quarter. State Street Corp now owns 222,555,548 shares of the information services provider’s stock valued at $36,910,838,000 after purchasing an additional 743,369 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Alphabet by 2.0% in the third quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock valued at $22,154,651,000 after acquiring an additional 2,626,431 shares during the last quarter. JPMorgan Chase & Co. increased its position in Alphabet by 7.7% in the third quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock worth $10,559,240,000 after purchasing an additional 4,567,275 shares during the period. Fisher Asset Management LLC raised its holdings in Alphabet by 2.5% during the 3rd quarter. Fisher Asset Management LLC now owns 49,857,900 shares of the information services provider’s stock worth $8,268,933,000 after purchasing an additional 1,237,385 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Alphabet by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 37,233,079 shares of the information services provider’s stock valued at $6,175,106,000 after purchasing an additional 523,416 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the sale, the chief executive officer now directly owns 2,106,806 shares of the company’s stock, valued at approximately $350,361,837.80. The trade was a 1.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,834 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $167.23, for a total value of $473,929.82. Following the sale, the chief accounting officer now directly owns 26,349 shares in the company, valued at approximately $4,406,343.27. This trade represents a 9.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 155,887 shares of company stock valued at $27,996,356 in the last three months. Corporate insiders own 11.55% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on GOOGL shares. KeyCorp boosted their price target on shares of Alphabet from $215.00 to $225.00 and gave the stock an “overweight” rating in a research note on Friday. Wedbush upped their price target on Alphabet from $210.00 to $220.00 and gave the company an “outperform” rating in a research note on Monday. China Renaissance raised shares of Alphabet from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Citizens Jmp downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Finally, Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Nine equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $207.08.

Alphabet Stock Performance

NASDAQ:GOOGL traded down $2.22 during mid-day trading on Friday, hitting $191.73. 12,710,284 shares of the stock were exchanged, compared to its average volume of 22,024,238. The firm’s 50-day simple moving average is $182.20 and its 200 day simple moving average is $173.01. The stock has a market capitalization of $2.35 trillion, a price-to-earnings ratio of 25.43, a price-to-earnings-growth ratio of 1.35 and a beta of 0.98. Alphabet Inc. has a fifty-two week low of $130.66 and a fifty-two week high of $201.42. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The business had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. During the same period in the prior year, the company posted $1.55 earnings per share. As a group, equities analysts anticipate that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business 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 0.42%. The ex-dividend date was Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

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.