Alphabet Inc. (NASDAQ:GOOGL) Holdings Decreased by Otter Creek Advisors LLC

Otter Creek Advisors LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 15.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,215 shares of the information services provider's stock after selling 4,788 shares during the period. Alphabet comprises 3.5% of Otter Creek Advisors LLC's investment portfolio, making the stock its 6th largest position. Otter Creek Advisors LLC's holdings in Alphabet were worth $5,152,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. State Street Corp increased its stake in Alphabet by 0.3% in the 3rd quarter. State Street Corp now owns 222,555,548 shares of the information services provider's stock worth $36,910,838,000 after purchasing an additional 743,369 shares during the period. Geode Capital Management LLC increased its stake in Alphabet by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider's stock worth $22,154,651,000 after purchasing an additional 2,626,431 shares during the period. JPMorgan Chase & Co. increased its stake in Alphabet by 7.7% in the 3rd 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 increased its stake in Alphabet by 2.5% in 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 period. Finally, Charles Schwab Investment Management Inc. increased its stake in Alphabet by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 37,233,079 shares of the information services provider's stock worth $6,175,106,000 after purchasing an additional 523,416 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Up 1.9 %

NASDAQ GOOGL opened at $167.11 on Thursday. The stock's 50-day moving average price is $186.76 and its 200-day moving average price is $176.48. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 52 week low of $138.99 and a 52 week high of $207.05. The company has a market capitalization of $2.04 trillion, a P/E ratio of 20.76, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02.

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Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. On average, equities research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet's dividend payout ratio is currently 9.94%.

Analysts Set New Price Targets

GOOGL has been the topic of several research analyst reports. Bank of America reissued a "buy" rating and set a $210.00 target price on shares of Alphabet in a research note on Monday, December 23rd. KeyCorp boosted their target price on Alphabet from $215.00 to $225.00 and gave the company an "overweight" rating in a research note on Friday, January 10th. DA Davidson boosted their target price on Alphabet from $190.00 to $200.00 and gave the company a "neutral" rating in a research note on Friday, January 24th. Citizens Jmp cut Alphabet from a "strong-buy" rating to a "hold" rating in a research note on Thursday, January 2nd. Finally, Piper Sandler reduced their target price on Alphabet from $210.00 to $208.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 5th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $210.62.

Insider Buying and Selling

In other Alphabet news, insider Ruth Porat sold 17,690 shares of Alphabet stock in a transaction on Friday, February 21st. The stock was sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the completion of the sale, the insider now directly owns 1,449,286 shares of the company's stock, valued at $265,914,995.28. The trade was a 1.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O'toole sold 2,834 shares of Alphabet stock in a transaction on Monday, December 16th. The shares were sold at an average price of $197.55, for a total value of $559,856.70. Following the sale, the chief accounting officer now directly owns 20,681 shares of the company's stock, valued at approximately $4,085,531.55. This trade represents a 12.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 95,682 shares of company stock valued at $17,901,024. Insiders own 11.55% of the company's stock.

Alphabet 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.

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