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Cyrus J. Lawrence LLC cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 0.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 97,082 shares of the information services provider’s stock after selling 428 shares during the period. Alphabet accounts for approximately 3.6% of Cyrus J. Lawrence LLC’s portfolio, making the stock its 7th biggest holding. Cyrus J. Lawrence LLC’s holdings in Alphabet were worth $18,377,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in GOOGL. Compass Planning Associates Inc acquired a new stake in shares of Alphabet in the 4th quarter worth approximately $30,000. E Fund Management Hong Kong Co. Ltd. raised its holdings in Alphabet by 518.8% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock worth $37,000 after purchasing an additional 166 shares in the last quarter. Fiduciary Advisors Inc. bought a new position in Alphabet during the 4th quarter valued at $39,000. PayPay Securities Corp increased its position in shares of Alphabet by 36.1% during the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after purchasing an additional 65 shares during the period. Finally, Denver PWM LLC raised its stake in shares of Alphabet by 25.4% in the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after buying an additional 57 shares in the last quarter. 40.03% of the stock is owned by institutional investors.
Alphabet Price Performance
NASDAQ GOOGL opened at $157.07 on Wednesday. Alphabet Inc. has a 1 year low of $147.22 and a 1 year high of $207.05. The company has a fifty day simple moving average of $178.01 and a 200 day simple moving average of $177.09. 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 company has a market cap of $1.91 trillion, a P/E ratio of 19.51, a P/E/G ratio of 1.34 and a beta of 1.02.
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 net margin of 28.60% and a return on equity of 32.49%. On average, sell-side analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.
Alphabet Dividend Announcement
The firm also recently declared 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 0.51%. The ex-dividend date was Monday, March 10th. Alphabet’s dividend payout ratio is currently 9.94%.
Insider Transactions at Alphabet
In related news, insider John Kent Walker sold 11,764 shares of the company’s stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $166.84, for a total value of $1,962,705.76. Following the completion of the transaction, the insider now directly owns 49,037 shares in the company, valued at approximately $8,181,333.08. This represents a 19.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,368 shares of Alphabet stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $191.55, for a total transaction of $262,040.40. Following the sale, the chief accounting officer now owns 20,681 shares in the company, valued at $3,961,445.55. This represents a 6.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 88,665 shares of company stock worth $16,198,310 over the last three months. 11.55% of the stock is currently owned by insiders.
Analyst Ratings Changes
Several brokerages recently weighed in on GOOGL. DZ Bank cut 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. Wolfe Research lifted their price objective on shares of Alphabet from $220.00 to $230.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. JMP Securities reissued a “market perform” rating on shares of Alphabet in a research note on Wednesday, February 5th. Jefferies Financial Group dropped their price target on Alphabet from $235.00 to $200.00 and set a “buy” rating on the stock in a report on Monday. Finally, Morgan Stanley reduced their price objective on Alphabet from $215.00 to $210.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and an average target price of $209.49.
Read Our Latest Analysis on GOOGL
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.
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