Cable Hill Partners LLC Decreases Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Cable Hill Partners LLC reduced its position in Alphabet Inc. (NASDAQ:GOOGL) by 1.2% in the 4th quarter, Holdings Channel reports. The firm owned 12,346 shares of the information services provider’s stock after selling 149 shares during the quarter. Cable Hill Partners LLC’s holdings in Alphabet were worth $1,740,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Meritage Group LP increased its stake in shares of Alphabet by 1,061.5% in the 3rd quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after acquiring an additional 276 shares during the last quarter. Macroview Investment Management LLC increased its stake in shares of Alphabet by 165.8% in the 3rd quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock worth $42,000 after acquiring an additional 199 shares during the last quarter. Armor Investment Advisors LLC increased its stake in shares of Alphabet by 31.0% in the 4th quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock worth $47,000 after acquiring an additional 80 shares during the last quarter. Valued Wealth Advisors LLC acquired a new stake in shares of Alphabet in the 4th quarter worth $55,000. Finally, LFA Lugano Financial Advisors SA increased its stake in shares of Alphabet by 301.5% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 522 shares of the information services provider’s stock worth $73,000 after acquiring an additional 392 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 2,100 shares of the business’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $175.76, for a total transaction of $369,096.00. Following the sale, the director now directly owns 5,891 shares in the company, valued at $1,035,402.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director John L. Hennessy sold 2,100 shares of Alphabet stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $175.76, for a total transaction of $369,096.00. Following the completion of the sale, the director now owns 5,891 shares in the company, valued at approximately $1,035,402.16. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $159.56, for a total transaction of $127,648.00. Following the completion of the transaction, the director now directly owns 7,991 shares of the company’s stock, valued at approximately $1,275,043.96. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 253,439 shares of company stock worth $36,746,578. 0.88% of the stock is owned by corporate insiders.

Alphabet Trading Up 10.2 %

NASDAQ:GOOGL opened at $171.95 on Monday. The firm has a market cap of $2.14 trillion, a P/E ratio of 26.37, a PEG ratio of 1.58 and a beta of 1.05. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The stock’s 50 day simple moving average is $147.85 and its 200-day simple moving average is $141.42. Alphabet Inc. has a 12-month low of $103.54 and a 12-month high of $174.71.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.04. Alphabet had a return on equity of 30.01% and a net margin of 25.90%. The firm had revenue of $86.31 billion for the quarter, compared to the consensus estimate of $70.77 billion. During the same period in the previous year, the business earned $1.05 earnings per share. Equities analysts anticipate that Alphabet Inc. will post 6.82 EPS for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on GOOGL shares. Raymond James raised their price objective on Alphabet from $160.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday. Rosenblatt Securities raised their target price on Alphabet from $172.00 to $182.00 and gave the company a “buy” rating in a report on Friday. TD Cowen lifted their price objective on Alphabet from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Friday. Canaccord Genuity Group lifted their price objective on Alphabet from $190.00 to $210.00 and gave the company a “buy” rating in a research note on Friday. Finally, Jefferies Financial Group lifted their price objective on Alphabet from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Friday. Five equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $187.82.

About Alphabet

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.