Lincoln Capital LLC Sells 2,839 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Lincoln Capital LLC lowered its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 163,035 shares of the information services provider’s stock after selling 2,839 shares during the period. Alphabet comprises about 6.5% of Lincoln Capital LLC’s portfolio, making the stock its 4th biggest holding. Lincoln Capital LLC’s holdings in Alphabet were worth $30,863,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. LMR Partners LLP acquired a new position in shares of Alphabet during the third quarter worth $32,000. Denver PWM LLC boosted its stake in shares of Alphabet by 25.4% during the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock valued at $47,000 after purchasing an additional 57 shares in the last quarter. Quarry LP bought a new stake in shares of Alphabet during the second quarter worth about $53,000. Teachers Insurance & Annuity Association of America acquired a new position in shares of Alphabet in the third quarter valued at approximately $66,000. Finally, Mendota Financial Group LLC raised its holdings 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 buying an additional 64 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GOOGL has been the subject of several recent research reports. Roth Mkm upped their price target on shares of Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Stifel Nicolaus lifted their target price on Alphabet from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Citizens Jmp cut Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Phillip Securities upgraded Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Finally, Piper Sandler restated an “overweight” rating and set a $210.00 price target (up previously from $200.00) on shares of Alphabet in a report on Wednesday, October 30th. Nine research analysts have rated the stock with a hold rating, thirty have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $208.67.

Alphabet Stock Performance

Shares of GOOGL stock opened at $197.98 on Friday. Alphabet Inc. has a one year low of $130.66 and a one year high of $202.29. The company has a market cap of $2.42 trillion, a P/E ratio of 26.26, a P/E/G ratio of 1.27 and a beta of 0.98. The firm has a 50-day moving average of $185.46 and a 200-day moving average of $173.55. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, topping the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion for 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 last year, the firm earned $1.55 EPS. Equities research analysts forecast that Alphabet Inc. will post 8.03 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.40%. The ex-dividend date was Monday, December 9th. Alphabet’s dividend payout ratio is presently 10.61%.

Insider Buying and Selling

In other Alphabet news, Director Kavitark Ram Shriram sold 10,500 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total value of $1,898,190.00. Following the completion of the sale, the director now directly owns 330,466 shares of the company’s stock, valued at $59,741,643.48. This trade represents a 3.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $177.36, for a total value of $3,990,600.00. Following the transaction, the chief executive officer now directly owns 2,084,306 shares in the company, valued at $369,672,512.16. This represents a 1.07 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 133,387 shares of company stock valued at $24,368,654. 11.55% of the stock is owned by insiders.

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.