Sciencast Management LP Has $1.10 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Sciencast Management LP cut its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 65.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,785 shares of the information services provider's stock after selling 10,957 shares during the period. Sciencast Management LP's holdings in Alphabet were worth $1,095,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of GOOGL. ZEGA Investments LLC purchased a new position in Alphabet during the 4th quarter valued at $4,326,000. Millstone Evans Group LLC purchased a new position in Alphabet in the fourth quarter worth about $1,718,000. Atlas Wealth LLC lifted its position in Alphabet by 10.1% in the 4th quarter. Atlas Wealth LLC now owns 4,360 shares of the information services provider's stock valued at $825,000 after acquiring an additional 400 shares in the last quarter. Mindset Wealth Management LLC lifted its holdings in shares of Alphabet by 11.8% during the fourth quarter. Mindset Wealth Management LLC now owns 14,893 shares of the information services provider's stock valued at $2,819,000 after purchasing an additional 1,571 shares in the last quarter. Finally, Wealth Advisors of Iowa LLC boosted its holdings in shares of Alphabet by 7.0% during the 4th quarter. Wealth Advisors of Iowa LLC now owns 3,339 shares of the information services provider's stock valued at $632,000 after acquiring an additional 217 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

GOOGL has been the subject of several research analyst reports. Westpark Capital raised Alphabet to a "strong-buy" rating in a report on Tuesday. Jefferies Financial Group lowered their target price on shares of Alphabet from $235.00 to $200.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. DA Davidson increased their price objective on shares of Alphabet from $190.00 to $200.00 and gave the company a "neutral" rating in a report on Friday, January 24th. Needham & Company LLC reaffirmed a "buy" rating and set a $225.00 price target on shares of Alphabet in a research note on Wednesday, February 5th. Finally, Robert W. Baird reissued an "outperform" rating and issued a $205.00 target price on shares of Alphabet in a research note on Tuesday, December 10th. 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 stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $209.13.

Remove Ads

Alphabet Trading Down 3.4 %

Shares of NASDAQ:GOOGL traded down $5.12 during midday trading on Friday, reaching $145.60. The company had a trading volume of 62,123,086 shares, compared to its average volume of 27,597,046. The company has a fifty day simple moving average of $175.15 and a two-hundred day simple moving average of $176.81. The firm has a market cap of $1.77 trillion, a price-to-earnings ratio of 18.09, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a 1-year low of $145.38 and a 1-year high of $207.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping 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%. Research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet's payout ratio is currently 9.94%.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the business's stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. The trade was a 1.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kavitark Ram Shriram sold 29,066 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $184.89, for a total transaction of $5,374,012.74. Following the sale, the director now owns 272,466 shares of the company's stock, valued at $50,376,238.74. This trade represents a 9.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 119,797 shares of company stock valued at $21,089,470 in the last three months. Corporate insiders own 11.55% of the company's stock.

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.