Boston Partners Sells 581,835 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Boston Partners reduced its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 8.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 6,084,302 shares of the information services provider's stock after selling 581,835 shares during the quarter. Alphabet accounts for 1.4% of Boston Partners' investment portfolio, making the stock its 3rd largest position. Boston Partners' holdings in Alphabet were worth $1,154,177,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Bennett Selby Investments LP lifted its position in shares of Alphabet by 4.0% during the 4th quarter. Bennett Selby Investments LP now owns 1,354 shares of the information services provider's stock valued at $256,000 after acquiring an additional 52 shares during the period. Macroview Investment Management LLC raised its stake in Alphabet by 4.2% in the fourth quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider's stock valued at $245,000 after purchasing an additional 52 shares in the last quarter. Conrad Siegel Investment Advisors Inc. lifted its position in Alphabet by 0.5% during the fourth quarter. Conrad Siegel Investment Advisors Inc. now owns 9,845 shares of the information services provider's stock worth $1,864,000 after purchasing an additional 53 shares during the period. Cornerstone Planning Group LLC grew its stake in Alphabet by 2.3% during the fourth quarter. Cornerstone Planning Group LLC now owns 2,381 shares of the information services provider's stock worth $457,000 after buying an additional 53 shares in the last quarter. Finally, Addison Advisors LLC increased its holdings in Alphabet by 0.7% in the 4th quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider's stock valued at $1,425,000 after buying an additional 53 shares during the period. Hedge funds and other institutional investors own 40.03% of the company's stock.

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Insider Buying and Selling at Alphabet

In related news, Director John L. Hennessy sold 200 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were 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 in the company, valued at approximately $1,293,285.89. This represents a 2.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 completion of 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 88,665 shares of company stock worth $16,198,310 over the last ninety days. Company insiders own 11.55% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. KeyCorp cut their price target on shares of Alphabet from $220.00 to $202.00 and set an "overweight" rating for the company in a report on Tuesday, March 18th. Robert W. Baird restated an "outperform" rating and set a $205.00 price objective on shares of Alphabet in a research report on Tuesday, December 10th. DA Davidson raised their target price on Alphabet from $190.00 to $200.00 and gave the company a "neutral" rating in a report on Friday, January 24th. Westpark Capital upgraded Alphabet to a "strong-buy" rating in a research note on Tuesday. Finally, Wolfe Research upped their price objective on Alphabet from $220.00 to $230.00 and gave the stock an "outperform" rating in a research report on Friday, January 3rd. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and five have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $209.49.

Alphabet Stock Performance

Shares of NASDAQ GOOGL traded down $0.51 during midday trading on Wednesday, hitting $156.56. 5,630,620 shares of the company's stock traded hands, compared to its average volume of 27,297,628. Alphabet Inc. has a 1 year low of $147.22 and a 1 year high of $207.05. The stock has a market capitalization of $1.91 trillion, a price-to-earnings ratio of 19.42, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02. 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 fifty day moving average of $178.01 and a 200 day moving average of $177.09.

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, beating 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%. On average, analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were paid 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 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.