City Holding Co. Sells 17,500 Shares of Alphabet Inc. (NASDAQ:GOOGL)

City Holding Co. trimmed its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 13.9% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 108,612 shares of the information services provider's stock after selling 17,500 shares during the period. Alphabet accounts for about 2.9% of City Holding Co.'s investment portfolio, making the stock its 4th biggest holding. City Holding Co.'s holdings in Alphabet were worth $20,560,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Conrad Siegel Investment Advisors Inc. grew its holdings in shares of Alphabet by 0.5% during the 4th quarter. Conrad Siegel Investment Advisors Inc. now owns 9,845 shares of the information services provider's stock valued at $1,864,000 after acquiring an additional 53 shares in the last quarter. Denver PWM LLC lifted its stake in shares of Alphabet by 25.4% in the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider's stock valued at $47,000 after purchasing an additional 57 shares during the last quarter. Ignite Planners LLC lifted its position in Alphabet by 0.4% during the 4th quarter. Ignite Planners LLC now owns 15,078 shares of the information services provider's stock worth $2,892,000 after acquiring an additional 57 shares during the last quarter. Fermata Advisors LLC lifted its position in Alphabet by 0.8% during the 4th quarter. Fermata Advisors LLC now owns 7,433 shares of the information services provider's stock worth $1,407,000 after acquiring an additional 57 shares during the last quarter. Finally, Winch Advisory Services LLC lifted its position in Alphabet by 1.3% during the 4th quarter. Winch Advisory Services LLC now owns 4,386 shares of the information services provider's stock worth $830,000 after acquiring an additional 58 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Trading Up 0.6 %

NASDAQ GOOGL traded up $1.11 during trading hours on Thursday, hitting $199.48. The company's stock had a trading volume of 4,132,065 shares, compared to its average volume of 22,319,691. The stock has a fifty day moving average of $185.46 and a 200 day moving average of $173.55. Alphabet Inc. has a twelve month low of $130.66 and a twelve month high of $202.29. The firm has a market capitalization of $2.44 trillion, a P/E ratio of 26.47, a PEG ratio of 1.27 and a beta of 0.98. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period last year, the business posted $1.55 earnings per share. Equities research analysts forecast that Alphabet Inc. will post 8.03 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.40%. Alphabet's payout ratio is 10.61%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Wolfe Research boosted their target price on shares of Alphabet from $220.00 to $230.00 and gave the stock an "outperform" rating in a research report on Friday, January 3rd. Bank of America reissued a "buy" rating and set a $210.00 target price on shares of Alphabet in a research report on Monday, December 23rd. Citizens Jmp lowered shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, January 2nd. Royal Bank of Canada upped their price objective on shares of Alphabet from $204.00 to $210.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. Finally, Pivotal Research upped their price objective on shares of Alphabet from $215.00 to $225.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Nine investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $208.67.

Insider Buying and Selling

In related news, CAO Amie Thuener O'toole sold 1,367 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $170.41, for a total transaction of $232,950.47. Following the completion of the transaction, the chief accounting officer now owns 23,515 shares in the company, valued at approximately $4,007,191.15. This represents a 5.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 16,820 shares of Alphabet stock in a transaction on Monday, December 30th. The shares were sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the completion of the sale, the insider now owns 43,981 shares in the company, valued at $8,471,620.22. The trade was a 27.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 133,387 shares of company stock valued at $24,368,654. Company insiders own 11.55% of the company's stock.

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.