Saratoga Research & Investment Management Sells 93,044 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Saratoga Research & Investment Management trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 10.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 839,596 shares of the information services provider's stock after selling 93,044 shares during the period. Alphabet makes up 8.0% of Saratoga Research & Investment Management's portfolio, making the stock its biggest holding. Saratoga Research & Investment Management's holdings in Alphabet were worth $158,936,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Community Bank N.A. increased its position in shares of Alphabet by 6.4% during the fourth quarter. Community Bank N.A. now owns 46,173 shares of the information services provider's stock valued at $8,741,000 after purchasing an additional 2,790 shares during the period. Premier Fund Managers Ltd lifted its holdings in shares of Alphabet by 30.0% during the 4th quarter. Premier Fund Managers Ltd now owns 61,792 shares of the information services provider's stock worth $11,816,000 after acquiring an additional 14,262 shares during the period. Absolute Capital Management LLC boosted its position in shares of Alphabet by 14.0% during the 4th quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider's stock valued at $401,000 after acquiring an additional 258 shares in the last quarter. Permanent Capital Management LP bought a new position in Alphabet during the fourth quarter worth about $273,000. Finally, Glass Wealth Management Co LLC grew its stake in shares of Alphabet by 4.5% in the 4th quarter. Glass Wealth Management Co LLC now owns 37,054 shares of the information services provider's stock valued at $7,014,000 after purchasing an additional 1,580 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on GOOGL. DZ Bank lowered Alphabet from a "buy" rating to a "hold" rating and set a $198.00 price objective for the company. in a research note on Thursday, February 6th. Citigroup decreased their price objective on shares of Alphabet from $229.00 to $195.00 and set a "buy" rating on the stock in a research note on Thursday. Rosenblatt Securities reiterated a "neutral" rating and issued a $205.00 target price on shares of Alphabet in a research note on Wednesday, March 19th. Needham & Company LLC restated a "buy" rating and set a $225.00 price target on shares of Alphabet in a research report on Wednesday, February 5th. Finally, Bank of America reiterated a "buy" rating and issued a $210.00 price objective on shares of Alphabet in a research report on Monday, December 23rd. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given 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 price target of $206.51.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total value of $33,106.00. Following the transaction, the director now directly owns 7,813 shares of the company's stock, valued at $1,293,285.89. The trade was a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Kent Walker sold 17,690 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $185.51, for a total value of $3,281,671.90. Following the completion of the sale, the insider now owns 43,111 shares in the company, valued at $7,997,521.61. The trade was a 29.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 119,797 shares of company stock worth $21,089,470 in the last 90 days. Insiders own 11.55% of the company's stock.

Alphabet Price Performance

NASDAQ:GOOGL traded up $4.32 during mid-day trading on Friday, reaching $157.14. The stock had a trading volume of 33,590,459 shares, compared to its average volume of 28,202,345. The stock has a 50-day simple moving average of $168.52 and a two-hundred day simple moving average of $176.22. 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 Inc. has a 12 month low of $140.53 and a 12 month high of $207.05. The stock has a market capitalization of $1.92 trillion, a PE ratio of 19.52, a P/E/G ratio of 1.34 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data 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 analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date was Monday, March 10th. Alphabet's payout ratio is 9.94%.

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.