RMR Capital Management LLC Has $3.67 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

RMR Capital Management LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,363 shares of the information services provider’s stock after selling 137 shares during the period. Alphabet accounts for about 2.7% of RMR Capital Management LLC’s investment portfolio, making the stock its 6th biggest holding. RMR Capital Management LLC’s holdings in Alphabet were worth $3,665,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. LMR Partners LLP bought a new stake in shares of Alphabet during the 3rd quarter worth about $32,000. 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. Denver PWM LLC lifted its position in Alphabet by 25.4% in the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after purchasing an additional 57 shares during the period. Teachers Insurance & Annuity Association of America acquired a new stake in Alphabet in the third quarter worth approximately $66,000. Finally, Mendota Financial Group LLC boosted its stake in Alphabet by 19.0% during 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 in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $185.34 on Friday. The stock has a market capitalization of $2.27 trillion, a P/E ratio of 24.58, a P/E/G ratio of 1.31 and a beta of 0.99. The business has a 50-day moving average of $191.28 and a two-hundred day moving average of $174.64. Alphabet Inc. has a fifty-two week low of $130.66 and a fifty-two week high of $207.05. 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, 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 31.66% and a net margin of 27.74%. On average, equities research analysts predict that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s dividend payout ratio is currently 10.61%.

Insider Activity at Alphabet

In other news, Director John L. Hennessy sold 1,500 shares of the stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $189.80, for a total value of $284,700.00. Following the completion of the sale, the director now directly owns 21,824 shares of the company’s stock, valued at approximately $4,142,195.20. This represents a 6.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,340 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total transaction of $270,787.20. Following the completion of the sale, the chief accounting officer now owns 17,848 shares in the company, valued at approximately $3,606,723.84. The trade was a 6.98 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 89,529 shares of company stock worth $16,600,078. 11.55% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on GOOGL. JPMorgan Chase & Co. cut their price objective on Alphabet from $232.00 to $220.00 and set an “overweight” rating for the company in a report on Wednesday. Cantor Fitzgerald cut their price target on shares of Alphabet from $215.00 to $210.00 and set a “neutral” rating for the company in a report on Wednesday, January 22nd. Piper Sandler lowered their price objective on shares of Alphabet from $210.00 to $208.00 and set an “overweight” rating on the stock in a research note on Wednesday. Evercore ISI boosted their target price on shares of Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Royal Bank of Canada lifted their price target on shares of Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Ten analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $210.62.

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.