Rollins Financial Advisors LLC decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 5.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 158,432 shares of the information services provider's stock after selling 9,277 shares during the quarter. Alphabet accounts for about 4.7% of Rollins Financial Advisors LLC's investment portfolio, making the stock its 7th largest position. Rollins Financial Advisors LLC's holdings in Alphabet were worth $29,991,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Community Bank N.A. boosted its position in shares of Alphabet by 6.4% during the 4th quarter. Community Bank N.A. now owns 46,173 shares of the information services provider's stock valued at $8,741,000 after acquiring an additional 2,790 shares during the last quarter. Premier Fund Managers Ltd lifted its holdings in shares of Alphabet by 30.0% in the 4th quarter. Premier Fund Managers Ltd now owns 61,792 shares of the information services provider's stock valued at $11,816,000 after acquiring an additional 14,262 shares during the last quarter. Absolute Capital Management LLC grew its position in Alphabet by 14.0% in the fourth quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider's stock worth $401,000 after acquiring an additional 258 shares in the last quarter. Permanent Capital Management LP bought a new stake in Alphabet during the fourth quarter worth approximately $273,000. Finally, Glass Wealth Management Co LLC raised its position in Alphabet by 4.5% during 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 during the period. 40.03% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. cut their target price on Alphabet from $220.00 to $180.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. JMP Securities restated a "market perform" rating on shares of Alphabet in a report on Thursday, April 10th. Wedbush set a $190.00 price objective on shares of Alphabet and gave the stock an "outperform" rating in a research note on Tuesday. Jefferies Financial Group reduced their price target on Alphabet from $235.00 to $200.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Finally, KeyCorp dropped their price objective on Alphabet from $220.00 to $202.00 and set an "overweight" rating for the company in a report on Tuesday, March 18th. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $202.46.
Get Our Latest Analysis on Alphabet
Insider Buying and Selling at Alphabet
In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00. Following the transaction, the chief executive officer now directly owns 2,717,696 shares in the company, valued at $430,917,877.76. This represents a 1.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O'toole sold 1,340 shares of the company's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total transaction of $270,787.20. Following the completion of the transaction, the chief accounting officer now owns 17,848 shares of the company's stock, valued at $3,606,723.84. This represents a 6.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 115,663 shares of company stock valued at $20,286,447 in the last three months. 11.55% of the stock is owned by corporate insiders.
Alphabet Trading Down 1.9 %
GOOGL traded down $3.04 during trading hours on Wednesday, reaching $153.27. The company's stock had a trading volume of 20,614,040 shares, compared to its average volume of 28,220,770. The stock has a market cap of $1.87 trillion, a PE ratio of 19.04, a P/E/G ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The business's 50-day moving average is $167.17 and its 200-day moving average is $176.14.
Alphabet (NASDAQ:GOOGL - Get Free Report) last released 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 return on equity of 32.49% and a net margin of 28.60%. As a group, equities research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
Alphabet Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were given a dividend of $0.20 per share. The ex-dividend date was Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.52%. Alphabet's dividend payout ratio is currently 9.94%.
About Alphabet
(
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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