Adams Diversified Equity Fund Inc. Sells 25,100 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Adams Diversified Equity Fund Inc. reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 4.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 553,500 shares of the information services provider's stock after selling 25,100 shares during the quarter. Alphabet makes up 4.0% of Adams Diversified Equity Fund Inc.'s investment portfolio, making the stock its 5th biggest holding. Adams Diversified Equity Fund Inc.'s holdings in Alphabet were worth $104,778,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Absolute Capital Management LLC raised its holdings in Alphabet by 14.0% during the fourth quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider's stock worth $401,000 after purchasing an additional 258 shares in the last quarter. Permanent Capital Management LP acquired a new stake in shares of Alphabet in the 4th quarter valued at approximately $273,000. Landscape Capital Management L.L.C. lifted its holdings in shares of 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 valued at $4,192,000 after buying an additional 5,516 shares during the period. Glass Wealth Management Co LLC boosted its stake in shares of 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 valued at $7,014,000 after buying an additional 1,580 shares in the last quarter. Finally, Olistico Wealth LLC grew its holdings in Alphabet by 9.1% during the fourth quarter. Olistico Wealth LLC now owns 8,981 shares of the information services provider's stock worth $1,700,000 after acquiring an additional 746 shares during the period. Hedge funds and other institutional investors own 40.03% of the company's stock.

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Wall Street Analyst Weigh In

Several brokerages have commented on GOOGL. KeyCorp decreased their target price on shares of Alphabet from $220.00 to $202.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 18th. Bank of America reaffirmed a "buy" rating and issued a $210.00 price objective on shares of Alphabet in a research note on Monday, December 23rd. Jefferies Financial Group lowered their target price on Alphabet from $235.00 to $200.00 and set a "buy" rating on the stock in a report on Monday. UBS Group set a $190.00 price objective on shares of Alphabet in a research note on Thursday, March 27th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $225.00 target price on shares of Alphabet in a research note on Wednesday, February 5th. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and five have given a strong buy rating to the company. According to MarketBeat, Alphabet presently has an average rating of "Moderate Buy" and an average price target of $209.13.

Alphabet Trading Down 1.1 %

Shares of Alphabet stock traded down $1.61 during trading on Friday, hitting $149.11. 10,572,264 shares of the company were exchanged, compared to its average volume of 27,410,744. The firm's fifty day moving average price is $176.24 and its 200 day moving average price is $176.77. The firm has a market capitalization of $1.82 trillion, a P/E ratio of 18.50, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a 1-year low of $144.48 and a 1-year high of $207.05. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data 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, sell-side analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm 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 0.54%. Alphabet's dividend payout ratio (DPR) is presently 9.94%.

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 200 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the completion of the transaction, the director now directly owns 7,813 shares in the company, valued at $1,293,285.89. This represents a 2.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O'toole sold 673 shares of the company's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total value of $104,537.09. Following the sale, the chief accounting officer now owns 15,303 shares in the company, valued at $2,377,014.99. The trade was a 4.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 87,297 shares of company stock valued at $15,936,270 over the last 90 days. 11.55% of the stock is owned by corporate insiders.

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.