Ingalls & Snyder LLC Reduces Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Ingalls & Snyder LLC lessened its stake in Alphabet Inc. (NASDAQ:GOOGL) by 1.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 313,718 shares of the information services provider’s stock after selling 3,834 shares during the quarter. Alphabet makes up about 2.3% of Ingalls & Snyder LLC’s holdings, making the stock its 8th largest position. Ingalls & Snyder LLC’s holdings in Alphabet were worth $59,387,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of GOOGL. Bennett Selby Investments LP lifted its stake in Alphabet by 4.0% during the fourth quarter. Bennett Selby Investments LP now owns 1,354 shares of the information services provider’s stock worth $256,000 after purchasing an additional 52 shares during the last quarter. Conrad Siegel Investment Advisors Inc. grew its holdings in shares of Alphabet by 0.5% during the 4th quarter. Conrad Siegel Investment Advisors Inc. now owns 9,845 shares of the information services provider’s stock worth $1,864,000 after acquiring an additional 53 shares during the period. Cornerstone Planning Group LLC grew its holdings in shares of Alphabet by 2.3% during the 4th quarter. Cornerstone Planning Group LLC now owns 2,381 shares of the information services provider’s stock worth $457,000 after acquiring an additional 53 shares during the period. Denver PWM LLC grew 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 during the last quarter. Finally, Ignite Planners LLC grew its stake in shares of Alphabet by 0.4% in the 4th quarter. Ignite Planners LLC now owns 15,078 shares of the information services provider’s stock worth $2,892,000 after buying an additional 57 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on GOOGL shares. Piper Sandler cut their price target on Alphabet from $210.00 to $208.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Wells Fargo & Company increased their price target on Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. JPMorgan Chase & Co. decreased their target price on Alphabet from $232.00 to $220.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. DZ Bank cut Alphabet from a “buy” rating to a “hold” rating and set a $198.00 target price on the stock. in a report on Thursday, February 6th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $210.00 target price on shares of Alphabet in a report on Thursday, December 12th. Ten equities research 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. According to MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $210.62.

Alphabet Stock Down 2.7 %

Shares of NASDAQ:GOOGL opened at $179.66 on Monday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 12 month low of $130.66 and a 12 month high of $207.05. The company has a 50-day moving average price of $192.46 and a 200 day moving average price of $175.93. The company has a market cap of $2.19 trillion, a price-to-earnings ratio of 22.32, a PEG ratio of 1.34 and a beta of 0.99.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. As a group, equities research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.45%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend payout ratio is presently 9.94%.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 1,340 shares of Alphabet stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total value of $270,787.20. Following the transaction, the chief accounting officer now directly owns 17,848 shares of the company’s stock, valued at approximately $3,606,723.84. The trade was a 6.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ruth Porat sold 17,690 shares of the business’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the sale, the insider now directly owns 1,449,286 shares in the company, valued at $265,914,995.28. This trade represents a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 134,299 shares of company stock valued at $25,055,751. Corporate insiders own 11.55% of the company’s stock.

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.