Carret Asset Management LLC Sells 1,862 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Carret Asset Management LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 1.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 112,119 shares of the information services provider's stock after selling 1,862 shares during the quarter. Alphabet comprises about 2.3% of Carret Asset Management LLC's portfolio, making the stock its 6th biggest holding. Carret Asset Management LLC's holdings in Alphabet were worth $21,224,000 at the end of the most recent quarter.

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

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Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. The Goldman Sachs Group reissued a "buy" rating and set a $210.00 price objective on shares of Alphabet in a research report on Thursday, December 12th. Morgan Stanley decreased their price target on shares of Alphabet from $215.00 to $210.00 and set an "overweight" rating for the company in a research note on Wednesday, February 5th. Wedbush increased their price objective on shares of Alphabet from $210.00 to $220.00 and gave the company an "outperform" rating in a research report on Monday, January 6th. Roth Mkm reaffirmed a "buy" rating and set a $220.00 price objective on shares of Alphabet in a research report on Wednesday, March 19th. Finally, Bank of America reiterated a "buy" rating and set a $210.00 target price on shares of Alphabet in a research note on Monday, December 23rd. Ten research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $210.59.

Insider Buying and Selling

In other Alphabet news, 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 value of $262,040.40. Following the sale, the chief accounting officer now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Kent Walker sold 16,820 shares of the firm's stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the transaction, the insider now directly owns 43,981 shares of the company's stock, valued at approximately $8,471,620.22. This trade represents a 27.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 104,812 shares of company stock valued at $19,336,979. 11.55% of the stock is owned by insiders.

Alphabet Stock Performance

NASDAQ GOOGL traded down $6.56 during trading hours on Friday, hitting $155.68. 18,446,578 shares of the stock were exchanged, compared to its average volume of 27,151,340. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a market cap of $1.90 trillion, a price-to-earnings ratio of 19.34, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02. Alphabet Inc. has a 12-month low of $147.22 and a 12-month high of $207.05. The stock has a 50-day moving average of $180.49 and a 200 day moving average of $176.68.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly 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 net margin of 28.60% and a return on equity of 32.49%. As a group, equities research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

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

Alphabet 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.