Alphabet Inc. (NASDAQ:GOOGL) Stake Cut by Capital Group Investment Management PTE. LTD.

Capital Group Investment Management PTE. LTD. decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 13.3% in the 4th quarter, Holdings Channel reports. The firm owned 37,134 shares of the information services provider’s stock after selling 5,712 shares during the quarter. Alphabet comprises about 1.3% of Capital Group Investment Management PTE. LTD.’s investment portfolio, making the stock its 19th biggest holding. Capital Group Investment Management PTE. LTD.’s holdings in Alphabet were worth $7,029,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of GOOGL. Community Bank N.A. grew its stake in Alphabet by 6.4% during the 4th quarter. Community Bank N.A. now owns 46,173 shares of the information services provider’s stock worth $8,741,000 after buying an additional 2,790 shares during the last quarter. Premier Fund Managers Ltd grew its position in shares of Alphabet by 30.0% during the fourth quarter. Premier Fund Managers Ltd now owns 61,792 shares of the information services provider’s stock worth $11,816,000 after acquiring an additional 14,262 shares during the last quarter. Absolute Capital Management LLC grew its position in shares of Alphabet by 14.0% during 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 during the last quarter. Permanent Capital Management LP acquired a new stake in shares of Alphabet in the 4th quarter worth about $273,000. Finally, Glass Wealth Management Co LLC lifted its position in Alphabet by 4.5% in the 4th 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 last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $151.08 on Friday. The firm has a market cap of $1.84 trillion, a price-to-earnings ratio of 18.77, a P/E/G ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The business has a fifty day simple moving average of $165.14 and a 200 day simple moving average of $175.84.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share 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%. As a group, sell-side analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.53%. The ex-dividend date was Monday, March 10th. Alphabet’s payout ratio is presently 9.94%.

Insider Buying and Selling at Alphabet

In related news, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $161.90, for a total value of $32,380.00. Following the transaction, the director now directly owns 7,613 shares of the company’s stock, valued at approximately $1,232,544.70. This trade represents a 2.56 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $156.16, for a total value of $5,075,200.00. Following the sale, the chief executive officer now directly owns 2,685,196 shares of the company’s stock, valued at $419,320,207.36. The trade was a 1.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 148,163 shares of company stock worth $25,361,647 over the last ninety days. 11.55% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have commented on the stock. Truist Financial decreased their target price on shares of Alphabet from $220.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday. Morgan Stanley lowered their target price on Alphabet from $210.00 to $185.00 and set an “overweight” rating on the stock in a research report on Thursday. Wedbush set a $190.00 target price on Alphabet and gave the company an “outperform” rating in a research note on Tuesday. Cantor Fitzgerald decreased their price target on Alphabet from $200.00 to $159.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, Roth Mkm restated a “buy” rating and set a $220.00 price objective on shares of Alphabet in a research note on Wednesday, March 19th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and five have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $200.74.

Alphabet 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.