American Financial Advisors LLC trimmed its holdings in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 6.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 16,844 shares of the information services provider’s stock after selling 1,189 shares during the quarter. American Financial Advisors LLC’s holdings in Alphabet were worth $3,189,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Schear Investment Advisers LLC raised its holdings in shares of Alphabet by 17.0% in the third quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock valued at $5,598,000 after purchasing an additional 4,905 shares during the last quarter. Landscape Capital Management L.L.C. grew its position in Alphabet by 27.9% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider’s stock worth $4,192,000 after purchasing an additional 5,516 shares in the last quarter. abrdn plc increased its stake in Alphabet by 10.7% in the 3rd quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock valued at $1,037,196,000 after buying an additional 611,233 shares during the last quarter. Olistico Wealth LLC lifted its position in shares of Alphabet by 9.1% during the 4th quarter. Olistico Wealth LLC now owns 8,981 shares of the information services provider’s stock worth $1,700,000 after buying an additional 746 shares in the last quarter. Finally, Centaurus Financial Inc. boosted its stake in shares of Alphabet by 22.9% in the 3rd quarter. Centaurus Financial Inc. now owns 61,540 shares of the information services provider’s stock worth $10,206,000 after buying an additional 11,481 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.
Alphabet Price Performance
Shares of NASDAQ GOOGL opened at $168.27 on Friday. The firm has a market capitalization of $2.05 trillion, a P/E ratio of 20.90, a P/E/G ratio of 1.34 and a beta of 0.99. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock’s 50-day simple moving average is $191.00 and its two-hundred day simple moving average is $176.06. Alphabet Inc. has a twelve month low of $130.66 and a twelve month high of $207.05.
Alphabet (NASDAQ:GOOGL – Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. As a group, equities analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.
Alphabet Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date is Monday, March 10th. Alphabet’s payout ratio is currently 9.94%.
Insider Activity
In related news, Director Kavitark Ram Shriram sold 37,134 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the transaction, the director now directly owns 282,832 shares in the company, valued at $52,329,576.64. This trade represents a 11.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $170.41, for a total value of $232,950.47. Following the completion of the sale, the chief accounting officer now owns 23,515 shares of the company’s stock, valued at $4,007,191.15. The trade was a 5.49 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 134,188 shares of company stock worth $25,036,883. 11.55% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on GOOGL. Wolfe Research increased their price target on Alphabet from $220.00 to $230.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Wells Fargo & Company raised their target price on Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Cantor Fitzgerald lowered their target price on Alphabet from $215.00 to $210.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 22nd. Citigroup reduced their price target on shares of Alphabet from $232.00 to $229.00 and set a “buy” rating for the company in a research report on Wednesday, February 5th. Finally, Robert W. Baird reaffirmed an “outperform” rating and issued a $205.00 price objective on shares of Alphabet in a research report on Tuesday, December 10th. Ten analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average target price of $210.62.
Check Out Our Latest Stock Report on Alphabet
About Alphabet
(Free Report)
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.
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