Trivest Advisors Ltd trimmed its stake in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 89.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 77,000 shares of the information services provider's stock after selling 653,000 shares during the quarter. Trivest Advisors Ltd's holdings in Alphabet were worth $14,576,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Bennett Selby Investments LP boosted its position in Alphabet by 4.0% during the fourth quarter. Bennett Selby Investments LP now owns 1,354 shares of the information services provider's stock worth $256,000 after purchasing an additional 52 shares during the period. Macroview Investment Management LLC lifted its stake in shares of Alphabet by 4.2% in the fourth quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider's stock worth $245,000 after buying an additional 52 shares during the last quarter. Conrad Siegel Investment Advisors Inc. boosted its holdings in shares of Alphabet by 0.5% during the 4th quarter. Conrad Siegel Investment Advisors Inc. now owns 9,845 shares of the information services provider's stock worth $1,864,000 after buying an additional 53 shares during the period. Cornerstone Planning Group LLC grew its stake in Alphabet by 2.3% in the 4th quarter. Cornerstone Planning Group LLC now owns 2,381 shares of the information services provider's stock valued at $457,000 after buying an additional 53 shares during the last quarter. Finally, Addison Advisors LLC raised its holdings in Alphabet by 0.7% in the 4th quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider's stock worth $1,425,000 after acquiring an additional 53 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.
Alphabet Price Performance
GOOGL traded up $2.43 during trading on Tuesday, hitting $157.07. The company's stock had a trading volume of 30,630,658 shares, compared to its average volume of 27,398,097. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $1.91 trillion, a price-to-earnings ratio of 19.51, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02. The firm's 50 day moving average price is $178.83 and its two-hundred day moving average price is $177.10. Alphabet Inc. has a 12 month low of $147.22 and a 12 month high of $207.05.
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 (EPS) for the quarter, beating 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%. Sell-side analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.
Alphabet Dividend Announcement
The business also recently announced 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 of this dividend was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.51%. Alphabet's payout ratio is 9.94%.
Wall Street Analysts Forecast Growth
GOOGL has been the subject of a number of recent analyst reports. DA Davidson upped their price target on shares of Alphabet from $190.00 to $200.00 and gave the company a "neutral" rating in a report on Friday, January 24th. DZ Bank downgraded Alphabet from a "buy" rating to a "hold" rating and set a $198.00 target price for the company. in a research note on Thursday, February 6th. Piper Sandler dropped their price target on Alphabet from $210.00 to $208.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 5th. Cantor Fitzgerald reissued a "neutral" rating and issued a $200.00 price objective on shares of Alphabet in a research report on Wednesday, March 19th. Finally, Citizens Jmp lowered shares of Alphabet from a "strong-buy" rating to a "hold" rating in a research report on Thursday, January 2nd. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet presently has an average rating of "Moderate Buy" and an average price target of $209.49.
Check Out Our Latest Stock Report on Alphabet
Insider Activity at Alphabet
In related news, Director Kavitark Ram Shriram sold 29,066 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the director now directly owns 272,466 shares of the company's stock, valued at $50,376,238.74. The trade was a 9.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Amie Thuener O'toole sold 1,368 shares of the firm's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total transaction of $262,040.40. Following the completion of the transaction, the chief accounting officer now directly owns 20,681 shares in the company, valued at approximately $3,961,445.55. The trade was a 6.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 87,992 shares of company stock valued at $16,093,773 over the last quarter. Corporate insiders own 11.55% of the company's stock.
Alphabet Company Profile
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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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