South Street Advisors LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 125,301 shares of the information services provider's stock after selling 2,427 shares during the quarter. Alphabet makes up approximately 3.6% of South Street Advisors LLC's holdings, making the stock its 7th biggest holding. South Street Advisors LLC's holdings in Alphabet were worth $23,719,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Schear Investment Advisers LLC lifted its stake in shares of Alphabet by 17.0% during the 3rd quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider's stock worth $5,598,000 after purchasing an additional 4,905 shares during the last quarter. Permanent Capital Management LP purchased a new stake in Alphabet during the fourth quarter valued at approximately $273,000. Landscape Capital Management L.L.C. boosted its stake in Alphabet by 27.9% in the third quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider's stock valued at $4,192,000 after acquiring an additional 5,516 shares in the last quarter. Glass Wealth Management Co LLC grew its holdings in Alphabet by 4.5% in the fourth quarter. Glass Wealth Management Co LLC now owns 37,054 shares of the information services provider's stock worth $7,014,000 after purchasing an additional 1,580 shares during the last quarter. Finally, Olistico Wealth LLC grew its holdings in Alphabet by 9.1% in the fourth quarter. Olistico Wealth LLC now owns 8,981 shares of the information services provider's stock worth $1,700,000 after purchasing an additional 746 shares during the last quarter. Institutional investors own 40.03% of the company's stock.
Alphabet Stock Down 0.5 %
Shares of Alphabet stock traded down $0.81 during trading hours on Wednesday, reaching $156.26. 5,237,792 shares of the company were exchanged, compared to its average volume of 27,294,929. The firm has a market cap of $1.90 trillion, a PE ratio of 19.43, a PEG ratio of 1.34 and a beta of 1.02. The stock's fifty day moving average is $178.01 and its 200 day moving average is $177.09. Alphabet Inc. has a 1 year low of $147.22 and a 1 year high of $207.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84.
Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. As a group, equities research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.
Alphabet Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were issued a $0.20 dividend. The ex-dividend date was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.51%. Alphabet's payout ratio is 9.94%.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on GOOGL. Needham & Company LLC reissued a "buy" rating and issued a $225.00 price objective on shares of Alphabet in a research report on Wednesday, February 5th. Piper Sandler cut their price objective on shares of Alphabet from $210.00 to $208.00 and set an "overweight" rating on the stock in a report on Wednesday, February 5th. DZ Bank cut shares of Alphabet from a "buy" rating to a "hold" rating and set a $198.00 target price for the company. in a research note on Thursday, February 6th. Morgan Stanley decreased their price target on shares of Alphabet from $215.00 to $210.00 and set an "overweight" rating for the company in a report on Wednesday, February 5th. Finally, Rosenblatt Securities reissued a "neutral" rating and set a $205.00 price objective on shares of Alphabet in a report on Wednesday, March 19th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and five have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $209.49.
Read Our Latest Analysis on GOOGL
Insider Buying and Selling at Alphabet
In other Alphabet news, insider John Kent Walker sold 11,764 shares of the firm's stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $166.84, for a total value of $1,962,705.76. Following the completion of the sale, the insider now owns 49,037 shares of the company's stock, valued at approximately $8,181,333.08. This trade represents a 19.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ruth Porat sold 17,690 shares of the business's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $183.48, for a total value of $3,245,761.20. Following the sale, the insider now directly owns 1,449,286 shares in the company, valued at $265,914,995.28. This trade represents a 1.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 88,665 shares of company stock worth $16,198,310 over the last ninety days. Corporate insiders own 11.55% of the company's stock.
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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