Lee Danner & Bass Inc. Sells 158 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Lee Danner & Bass Inc. cut its position in Alphabet Inc. (NASDAQ:GOOGL) by 0.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,118 shares of the information services provider’s stock after selling 158 shares during the quarter. Lee Danner & Bass Inc.’s holdings in Alphabet were worth $3,509,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Meritage Group LP lifted its holdings in Alphabet by 1,061.5% in the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock valued at $40,000 after buying an additional 276 shares during the period. Macroview Investment Management LLC boosted its position in shares of Alphabet by 165.8% during the 3rd quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock valued at $42,000 after purchasing an additional 199 shares in the last quarter. Armor Investment Advisors LLC grew its stake in Alphabet by 31.0% during the fourth quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock worth $47,000 after purchasing an additional 80 shares during the period. Valued Wealth Advisors LLC bought a new stake in Alphabet in the fourth quarter worth approximately $55,000. Finally, LFA Lugano Financial Advisors SA boosted its holdings in shares of Alphabet by 301.5% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 522 shares of the information services provider’s stock worth $73,000 after buying an additional 392 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on GOOGL shares. Evercore ISI increased their target price on shares of Alphabet from $160.00 to $220.00 and gave the stock an “outperform” rating in a research note on Friday. Redburn Atlantic upped their price target on Alphabet from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. JPMorgan Chase & Co. raised their price objective on Alphabet from $165.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday. Piper Sandler reaffirmed an “overweight” rating and set a $200.00 target price (up from $160.00) on shares of Alphabet in a research report on Friday. Finally, Susquehanna lifted their price target on shares of Alphabet from $170.00 to $225.00 and gave the company a “positive” rating in a research report on Monday. Five equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $189.44.

Alphabet Stock Performance

Shares of GOOGL opened at $166.15 on Tuesday. Alphabet Inc. has a one year low of $103.71 and a one year high of $174.71. The company has a 50-day simple moving average of $148.36 and a two-hundred day simple moving average of $141.62. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.10. The firm has a market capitalization of $2.07 trillion, a PE ratio of 25.48, a price-to-earnings-growth ratio of 1.57 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The company had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $66.04 billion. During the same quarter last year, the business posted $1.17 EPS. On average, analysts anticipate that Alphabet Inc. will post 6.82 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date is Monday, June 10th.

Insider Buying and Selling

In other Alphabet news, CFO Ruth Porat sold 48,077 shares of the business’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following the sale, the chief financial officer now directly owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total value of $2,985,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,332,691 shares in the company, valued at approximately $309,548,095.70. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Ruth Porat sold 48,077 shares of the stock in a transaction on Friday, March 8th. The shares were sold at an average price of $137.22, for a total value of $6,597,125.94. Following the sale, the chief financial officer now owns 1,777,106 shares in the company, valued at $243,854,485.32. The disclosure for this sale can be found here. Insiders have sold 253,209 shares of company stock valued at $36,711,144 over the last quarter. Corporate insiders own 0.88% 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.