Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. lessened its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 9.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,226,514 shares of the information services provider's stock after selling 221,958 shares during the quarter. Alphabet makes up about 0.9% of Federated Hermes Inc.'s investment portfolio, making the stock its 12th largest holding. Federated Hermes Inc.'s holdings in Alphabet were worth $421,479,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Compass Planning Associates Inc bought a new stake in Alphabet in the 4th quarter worth about $30,000. E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of Alphabet by 518.8% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider's stock valued at $37,000 after purchasing an additional 166 shares during the last quarter. Fiduciary Advisors Inc. purchased a new position in shares of Alphabet during the fourth quarter valued at approximately $39,000. PayPay Securities Corp lifted its position in Alphabet by 36.1% during the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider's stock valued at $46,000 after purchasing an additional 65 shares during the period. Finally, Prudent Man Investment Management Inc. purchased a new stake in Alphabet in the fourth quarter worth approximately $53,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of analyst reports. Rosenblatt Securities restated a "neutral" rating and issued a $205.00 price target on shares of Alphabet in a research report on Wednesday, March 19th. DZ Bank lowered Alphabet from a "buy" rating to a "hold" rating and set a $198.00 price target on the stock. in a report on Thursday, February 6th. KeyCorp decreased their price target on Alphabet from $220.00 to $202.00 and set an "overweight" rating for the company in a research note on Tuesday, March 18th. Jefferies Financial Group lowered their price target on Alphabet from $235.00 to $200.00 and set a "buy" rating for the company in a report on Monday, March 31st. Finally, Wolfe Research boosted their price target on shares of Alphabet from $220.00 to $230.00 and gave the company an "outperform" rating in a report on Friday, January 3rd. Ten investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and five have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $204.72.

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Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the sale, the chief executive officer now owns 2,717,696 shares of the company's stock, valued at $430,917,877.76. This trade represents a 1.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O'toole sold 673 shares of Alphabet stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total transaction of $104,537.09. Following the completion of the sale, the chief accounting officer now directly owns 15,303 shares of the company's stock, valued at $2,377,014.99. The trade was a 4.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 118,497 shares of company stock worth $20,837,150. Insiders own 11.55% of the company's stock.

Alphabet Stock Down 1.9 %

NASDAQ:GOOGL traded down $3.07 during mid-day trading on Tuesday, hitting $156.00. The stock had a trading volume of 17,462,183 shares, compared to its average volume of 28,182,383. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The company has a market capitalization of $1.90 trillion, a PE ratio of 19.38, a PEG ratio of 1.34 and a beta of 1.03. The stock has a 50-day simple moving average of $167.87 and a two-hundred day simple moving average of $176.28.

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 for the quarter, topping 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 anticipate that Alphabet Inc. will post 8.9 EPS 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. This represents a $0.80 annualized dividend and a dividend yield of 0.51%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet's payout ratio is currently 9.94%.

Alphabet Company 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.