Sequoia Financial Advisors LLC Sells 127,582 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Sequoia Financial Advisors LLC cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 23.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 414,956 shares of the information services provider's stock after selling 127,582 shares during the period. Alphabet makes up 0.8% of Sequoia Financial Advisors LLC's holdings, making the stock its 23rd biggest holding. Sequoia Financial Advisors LLC's holdings in Alphabet were worth $78,551,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Warwick Investment Management Inc. raised its position in Alphabet by 4.3% in the 4th quarter. Warwick Investment Management Inc. now owns 4,753 shares of the information services provider's stock valued at $900,000 after buying an additional 195 shares during the last quarter. Summit X LLC grew its stake in shares of Alphabet by 0.5% in the 4th quarter. Summit X LLC now owns 28,499 shares of the information services provider's stock worth $5,398,000 after acquiring an additional 152 shares in the last quarter. Windle Wealth LLC purchased a new stake in shares of Alphabet in the fourth quarter valued at about $315,000. Moors & Cabot Inc. lifted its position in shares of Alphabet by 4.2% during the fourth quarter. Moors & Cabot Inc. now owns 148,663 shares of the information services provider's stock valued at $28,142,000 after purchasing an additional 6,006 shares in the last quarter. Finally, Bender Robert & Associates boosted its holdings in Alphabet by 1.3% during the fourth quarter. Bender Robert & Associates now owns 58,933 shares of the information services provider's stock worth $11,156,000 after purchasing an additional 784 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company's stock.

Remove Ads

Analyst Ratings Changes

Several equities research analysts have commented on GOOGL shares. JPMorgan Chase & Co. decreased their price objective on shares of Alphabet from $232.00 to $220.00 and set an "overweight" rating for the company in a research note on Wednesday, February 5th. JMP Securities reaffirmed a "market perform" rating on shares of Alphabet in a research report on Wednesday, February 5th. Citizens Jmp cut Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, January 2nd. Wells Fargo & Company raised their target price on Alphabet from $187.00 to $190.00 and gave the company an "equal weight" rating in a research report on Monday, January 13th. Finally, Wedbush boosted their price target on shares of Alphabet from $210.00 to $220.00 and gave the stock an "outperform" rating in a report on Monday, January 6th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of "Moderate Buy" and a consensus price target of $210.59.

Alphabet Price Performance

GOOGL traded down $5.50 during trading on Wednesday, reaching $165.06. The stock had a trading volume of 28,889,147 shares, compared to its average volume of 25,905,073. The business has a 50-day moving average of $181.11 and a 200-day moving average of $176.78. Alphabet Inc. has a one year low of $147.22 and a one 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. The stock has a market cap of $2.01 trillion, a PE ratio of 20.50, a PEG ratio of 1.34 and a beta of 1.02.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS 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%. As a group, equities research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. Alphabet's dividend payout ratio (DPR) is 9.94%.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O'toole sold 1,340 shares of the business's stock in a transaction that occurred 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 in the company, valued at approximately $3,606,723.84. The trade was a 6.98 % 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 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 completion of the transaction, the insider now owns 43,981 shares in the company, valued at $8,471,620.22. This represents a 27.66 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 93,048 shares of company stock valued at $17,374,274. Insiders own 11.55% of the company's stock.

About Alphabet

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.