Lee Danner & Bass Inc. Sells 6,303 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Lee Danner & Bass Inc. decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 25.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 18,040 shares of the information services provider’s stock after selling 6,303 shares during the quarter. Lee Danner & Bass Inc.’s holdings in Alphabet were worth $3,415,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in GOOGL. Permanent Capital Management LP purchased a new stake in Alphabet in the 4th quarter worth $273,000. Landscape Capital Management L.L.C. increased its holdings in shares of Alphabet by 27.9% in the third quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider’s stock worth $4,192,000 after purchasing an additional 5,516 shares during the last quarter. Glass Wealth Management Co LLC lifted its position in shares of Alphabet by 4.5% in the fourth quarter. Glass Wealth Management Co LLC now owns 37,054 shares of the information services provider’s stock worth $7,014,000 after buying an additional 1,580 shares in the last quarter. Olistico Wealth LLC boosted its stake in Alphabet by 9.1% during the fourth quarter. Olistico Wealth LLC now owns 8,981 shares of the information services provider’s stock valued at $1,700,000 after buying an additional 746 shares during the last quarter. Finally, Centaurus Financial Inc. grew its holdings in Alphabet by 22.9% during the 3rd quarter. Centaurus Financial Inc. now owns 61,540 shares of the information services provider’s stock valued at $10,206,000 after buying an additional 11,481 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Up 0.2 %

Shares of Alphabet stock opened at $154.64 on Tuesday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a market cap of $1.89 trillion, a P/E ratio of 19.21, a PEG ratio of 1.34 and a beta of 1.02. The firm’s 50 day moving average price is $178.83 and its 200-day moving average price is $177.10. Alphabet Inc. has a 52-week low of $147.22 and a 52-week high of $207.05.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results 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%. On average, sell-side analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.52%. The ex-dividend date was Monday, March 10th. Alphabet’s dividend payout ratio is presently 9.94%.

Analysts Set New Price Targets

A number of research analysts have recently commented on GOOGL shares. JPMorgan Chase & Co. lowered their target price on Alphabet from $232.00 to $220.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. KeyCorp lowered their price objective on shares of Alphabet from $220.00 to $202.00 and set an “overweight” rating for the company in a research report on Tuesday, March 18th. Wedbush boosted their target price on shares of Alphabet from $210.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, January 6th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $210.00 price target on shares of Alphabet in a report on Thursday, December 12th. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $205.00 price target on shares of Alphabet in a research report on Tuesday, December 10th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $209.49.

Insider Transactions at Alphabet

In other news, Director Kavitark Ram Shriram sold 29,066 shares of Alphabet stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $184.89, for a total transaction of $5,374,012.74. Following the completion of the sale, the director now directly owns 272,466 shares in the company, valued at approximately $50,376,238.74. The trade was a 9.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 1,368 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total value of $262,040.40. Following the completion of the transaction, the chief accounting officer now directly owns 20,681 shares in the company, valued at approximately $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 have sold 87,992 shares of company stock worth $16,093,773. 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.