Atlanta Consulting Group Advisors LLC lessened its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 57.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,847 shares of the information services provider's stock after selling 7,783 shares during the period. Atlanta Consulting Group Advisors LLC's holdings in Alphabet were worth $1,107,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently made changes to their positions in the company. Schear Investment Advisers LLC increased its position in Alphabet by 17.0% in the 3rd quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider's stock valued at $5,598,000 after acquiring an additional 4,905 shares during the period. Permanent Capital Management LP acquired a new position in Alphabet during the fourth quarter worth $273,000. Landscape Capital Management L.L.C. boosted its position 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 worth $4,192,000 after buying an additional 5,516 shares in the last quarter. Glass Wealth Management Co LLC lifted its holdings 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 purchasing an additional 1,580 shares in the last quarter. Finally, Olistico Wealth LLC lifted its stake in Alphabet by 9.1% in the 4th quarter. Olistico Wealth LLC now owns 8,981 shares of the information services provider's stock valued at $1,700,000 after buying an additional 746 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company's stock.
Insiders Place Their Bets
In related news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction dated 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 owns 7,813 shares of the company's stock, valued at approximately $1,293,285.89. This trade represents a 2.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O'toole sold 1,368 shares of the company's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total transaction of $262,040.40. Following the sale, the chief accounting officer now directly owns 20,681 shares of the company's stock, valued at $3,961,445.55. This represents a 6.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 88,665 shares of company stock worth $16,198,310. 11.55% of the stock is owned by corporate insiders.
Analyst Ratings Changes
Several equities research analysts have issued reports on the stock. Citigroup decreased their price target on shares of Alphabet from $232.00 to $229.00 and set a "buy" rating on the stock in a research note on Wednesday, February 5th. Roth Mkm restated a "buy" rating and set a $220.00 price target on shares of Alphabet in a research note on Wednesday, March 19th. Stifel Nicolaus raised their target price on shares of Alphabet from $200.00 to $225.00 and gave the company a "buy" rating in a research note on Monday, January 13th. Cantor Fitzgerald reissued a "neutral" rating and set a $200.00 price target on shares of Alphabet in a research report on Wednesday, March 19th. Finally, Wedbush upped their target price on shares of Alphabet from $210.00 to $220.00 and gave the company an "outperform" rating in a research note on Monday, January 6th. Ten analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $209.49.
Read Our Latest Research Report on GOOGL
Alphabet Price Performance
Shares of NASDAQ:GOOGL traded up $2.43 during trading on Tuesday, reaching $157.07. The company had a trading volume of 30,638,515 shares, compared to its average volume of 27,380,987. The firm's fifty day moving average is $178.01 and its 200 day moving average is $177.09. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The firm has a market capitalization of $1.91 trillion, a PE ratio of 19.51, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02. Alphabet Inc. has a twelve month low of $147.22 and a twelve month high of $207.05.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping 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%. On average, equities analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.
Alphabet Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a 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
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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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