Terra Nova Asset Management LLC Has $4.84 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Terra Nova Asset Management LLC reduced its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 22.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 25,588 shares of the information services provider's stock after selling 7,422 shares during the quarter. Alphabet makes up about 3.7% of Terra Nova Asset Management LLC's portfolio, making the stock its 2nd largest holding. Terra Nova Asset Management LLC's holdings in Alphabet were worth $4,844,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. LMR Partners LLP bought a new stake in shares of Alphabet in the 3rd quarter valued at $32,000. Denver PWM LLC boosted its stake in Alphabet by 25.4% during the third 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. Quarry LP bought a new position in Alphabet during the second quarter worth $53,000. Teachers Insurance & Annuity Association of America bought a new position in Alphabet during the third quarter worth $66,000. Finally, Mendota Financial Group LLC boosted its stake in Alphabet by 19.0% during the third quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider's stock worth $67,000 after acquiring an additional 64 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

GOOGL has been the topic of several research analyst reports. Morgan Stanley increased their target price on shares of Alphabet from $205.00 to $215.00 and gave the stock an "overweight" rating in a research note on Monday, January 13th. BMO Capital Markets reissued an "outperform" rating and set a $217.00 target price (up from $215.00) on shares of Alphabet in a research note on Wednesday, October 30th. Needham & Company LLC reiterated a "buy" rating and set a $210.00 price objective on shares of Alphabet in a report on Wednesday, October 30th. Bank of America reiterated a "buy" rating and set a $210.00 price objective on shares of Alphabet in a report on Monday, December 23rd. Finally, The Goldman Sachs Group reiterated a "buy" rating and set a $210.00 price objective on shares of Alphabet in a report on Thursday, December 12th. Nine research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $208.67.

Alphabet Stock Performance

Shares of NASDAQ GOOGL traded up $1.11 during midday trading 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 price of $185.46 and a 200 day moving average price of $173.55. The firm has a market capitalization of $2.44 trillion, a price-to-earnings ratio of 26.47, a P/E/G ratio of 1.27 and a beta of 0.98. Alphabet Inc. has a one year low of $130.66 and a one year high of $202.29. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to analysts' expectations of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter in the previous year, the company earned $1.55 earnings per share. On average, research analysts forecast that Alphabet Inc. will post 8.03 EPS for the current fiscal year.

Alphabet Announces Dividend

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

Insider Activity at Alphabet

In other news, Director Frances Arnold sold 441 shares of the business's stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of the sale, the director now directly owns 16,490 shares in the company, valued at approximately $2,820,779.40. The trade was a 2.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Amie Thuener O'toole sold 1,367 shares of the business's stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $171.42, for a total transaction of $234,331.14. Following the completion of the sale, the chief accounting officer now owns 26,349 shares of the company's stock, valued at approximately $4,516,745.58. The trade was a 4.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 133,387 shares of company stock valued at $24,368,654. Corporate 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.