Baker Chad R Sells 3,000 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Baker Chad R lessened its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 130,860 shares of the information services provider’s stock after selling 3,000 shares during the quarter. Alphabet makes up about 4.8% of Baker Chad R’s investment portfolio, making the stock its 2nd largest position. Baker Chad R’s holdings in Alphabet were worth $24,772,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of GOOGL. LMR Partners LLP acquired a new stake in Alphabet in the 3rd quarter valued at $32,000. Denver PWM LLC boosted its stake in Alphabet by 25.4% in the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock valued at $47,000 after buying an additional 57 shares in the last quarter. Quarry LP acquired a new stake in Alphabet in the 2nd quarter valued at $53,000. Teachers Insurance & Annuity Association of America acquired a new stake in Alphabet in the 3rd quarter valued at $66,000. Finally, Mendota Financial Group LLC raised its position in Alphabet by 19.0% in the 3rd quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock valued at $67,000 after purchasing an additional 64 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on GOOGL shares. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Pivotal Research lifted their price objective on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Morgan Stanley lifted their price objective on Alphabet from $205.00 to $215.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. China Renaissance upgraded Alphabet from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a research report on Thursday, December 12th. Nine investment 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. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $208.15.

Alphabet Stock Up 1.6 %

GOOGL stock opened at $196.00 on Tuesday. Alphabet Inc. has a fifty-two week low of $130.66 and a fifty-two week high of $201.42. The stock has a market capitalization of $2.40 trillion, a P/E ratio of 25.99, a P/E/G ratio of 1.22 and a beta of 0.98. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. The business has a 50-day moving average of $184.43 and a 200-day moving average of $173.25.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. During the same quarter in the prior year, the company posted $1.55 earnings per share. On average, sell-side analysts anticipate that Alphabet Inc. will post 8.03 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were issued 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 0.41%. Alphabet’s payout ratio is presently 10.61%.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of the company’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 value of $234,331.14. Following the sale, the chief accounting officer now owns 26,349 shares in the company, valued at $4,516,745.58. This represents a 4.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kavitark Ram Shriram sold 37,134 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total value of $6,870,532.68. Following the transaction, the director now owns 282,832 shares in the company, valued at approximately $52,329,576.64. This trade represents a 11.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 133,387 shares of company stock worth $24,368,654 over the last 90 days. Company insiders own 11.55% of the company’s stock.

Alphabet Company 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.