Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by GLOBALT Investments LLC GA

GLOBALT Investments LLC GA cut its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 1.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 83,727 shares of the information services provider’s stock after selling 1,385 shares during the period. Alphabet makes up about 0.6% of GLOBALT Investments LLC GA’s holdings, making the stock its 24th largest position. GLOBALT Investments LLC GA’s holdings in Alphabet were worth $15,850,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. GWN Securities Inc. purchased a new position in shares of Alphabet in the 4th quarter valued at $2,681,000. Van Hulzen Asset Management LLC grew its holdings in shares of Alphabet by 1.0% during the fourth quarter. Van Hulzen Asset Management LLC now owns 230,790 shares of the information services provider’s stock worth $43,676,000 after purchasing an additional 2,261 shares during the last quarter. Glenview Trust co grew its holdings in shares of Alphabet by 3.0% during the fourth quarter. Glenview Trust co now owns 622,750 shares of the information services provider’s stock worth $117,887,000 after purchasing an additional 18,212 shares during the last quarter. Strategic Financial Partners Ltd. acquired a new stake in shares of Alphabet during the fourth quarter worth about $355,000. Finally, Collaborative Wealth Managment Inc. purchased a new stake in shares of Alphabet in the 4th quarter valued at about $215,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider John Kent Walker sold 11,764 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the transaction, the insider now owns 49,037 shares of the company’s stock, 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 filing with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 1,368 shares of Alphabet stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now directly owns 20,681 shares of the company’s stock, valued at $3,961,445.55. The trade was a 6.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 104,812 shares of company stock valued at $19,336,979. Corporate insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of a number of research reports. Bank of America restated a “buy” rating and set a $210.00 price target on shares of Alphabet in a research note on Monday, December 23rd. Piper Sandler cut their target price on shares of Alphabet from $210.00 to $208.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Roth Mkm reiterated a “buy” rating and issued a $220.00 price target on shares of Alphabet in a research report on Wednesday, March 19th. Citigroup dropped their price objective on shares of Alphabet from $232.00 to $229.00 and set a “buy” rating on the stock in a research note on Wednesday, February 5th. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $205.00 target price on shares of Alphabet in a research note on Wednesday, March 19th. Ten 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 company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $210.59.

Alphabet Price Performance

Alphabet stock opened at $154.33 on Friday. The firm has a market capitalization of $1.88 trillion, a PE ratio of 19.17, a P/E/G ratio of 1.34 and a beta of 1.02. Alphabet Inc. has a 52 week low of $147.22 and a 52 week high of $207.05. The firm’s 50-day simple moving average is $179.66 and its 200 day simple moving average is $176.72. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating 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%. On average, equities research analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

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.