Core Alternative Capital Lowers Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Core Alternative Capital cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 14.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 41,285 shares of the information services provider's stock after selling 6,857 shares during the quarter. Alphabet accounts for about 1.6% of Core Alternative Capital's portfolio, making the stock its 18th largest holding. Core Alternative Capital's holdings in Alphabet were worth $7,815,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of GOOGL. LMR Partners LLP purchased a new stake in Alphabet in the 3rd quarter worth $32,000. E Fund Management Hong Kong Co. Ltd. increased its holdings in Alphabet by 518.8% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider's stock worth $37,000 after acquiring an additional 166 shares in the last quarter. Fiduciary Advisors Inc. purchased a new stake in Alphabet in the 4th quarter worth $39,000. Denver PWM LLC increased its holdings in Alphabet by 25.4% in the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider's stock worth $47,000 after acquiring an additional 57 shares in the last quarter. Finally, Teachers Insurance & Annuity Association of America purchased a new stake in Alphabet in the 3rd quarter worth $66,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Alphabet news, CAO Amie Thuener O'toole sold 1,340 shares of the firm's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the completion of the sale, the chief accounting officer now owns 17,848 shares of the company's stock, valued at approximately $3,606,723.84. This trade represents a 6.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 37,134 shares of the firm's stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total value of $6,870,532.68. Following the completion of the transaction, the director now owns 282,832 shares of the company's stock, valued at approximately $52,329,576.64. This represents a 11.61 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 134,299 shares of company stock valued at $25,055,751. 11.55% of the stock is currently owned by company insiders.

Analyst Ratings Changes

GOOGL has been the subject of a number of research reports. Morgan Stanley dropped their target price on shares of Alphabet from $215.00 to $210.00 and set an "overweight" rating for the company in a report on Wednesday, February 5th. JPMorgan Chase & Co. dropped their target price on shares of Alphabet from $232.00 to $220.00 and set an "overweight" rating for the company in a report on Wednesday, February 5th. Wolfe Research upped their target price on shares of Alphabet from $220.00 to $230.00 and gave the stock an "outperform" rating in a report on Friday, January 3rd. Phillip Securities raised shares of Alphabet to a "strong-buy" rating in a report on Friday, November 1st. Finally, BMO Capital Markets reissued an "outperform" rating and set a $217.00 price target (up previously from $215.00) on shares of Alphabet in a research report on Wednesday, October 30th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $210.62.

Alphabet Stock Down 2.7 %

Alphabet stock traded down $4.90 during mid-day trading on Friday, hitting $179.66. The company had a trading volume of 35,094,289 shares, compared to its average volume of 28,166,218. The stock has a market cap of $2.19 trillion, a price-to-earnings ratio of 22.32, a PEG ratio of 1.34 and a beta of 0.99. Alphabet Inc. has a 1 year low of $130.66 and a 1 year high of $207.05. The business has a fifty day moving average of $192.46 and a 200 day moving average of $175.69. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating 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, sell-side analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend is 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.