Delta Investment Management LLC Trims Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Delta Investment Management LLC trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 36,378 shares of the information services provider’s stock after selling 264 shares during the quarter. Alphabet makes up 1.3% of Delta Investment Management LLC’s portfolio, making the stock its 20th largest position. Delta Investment Management LLC’s holdings in Alphabet were worth $5,082,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the stock. FMR LLC raised its position in shares of Alphabet by 5.6% in the third quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock worth $29,746,764,000 after buying an additional 12,070,681 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Alphabet by 3.7% in the 3rd quarter. Northern Trust Corp now owns 67,684,197 shares of the information services provider’s stock valued at $8,857,154,000 after acquiring an additional 2,416,328 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Alphabet by 1.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 34,035,275 shares of the information services provider’s stock valued at $4,453,856,000 after acquiring an additional 335,219 shares during the last quarter. American Century Companies Inc. increased its position in shares of Alphabet by 7.8% in the third quarter. American Century Companies Inc. now owns 25,064,614 shares of the information services provider’s stock worth $3,279,955,000 after purchasing an additional 1,809,910 shares during the last quarter. Finally, Jennison Associates LLC raised its stake in Alphabet by 9.3% in the third quarter. Jennison Associates LLC now owns 24,145,417 shares of the information services provider’s stock valued at $3,159,669,000 after purchasing an additional 2,058,221 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

GOOGL has been the subject of a number of research reports. Jefferies Financial Group boosted their price target on shares of Alphabet from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. BMO Capital Markets upped their target price on shares of Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Canaccord Genuity Group increased their target price on Alphabet from $190.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Wedbush lifted their price target on Alphabet from $175.00 to $205.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Finally, Loop Capital increased their price objective on Alphabet from $155.00 to $170.00 and gave the company a “hold” rating in a research report on Wednesday. Five analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $190.60.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $136.49, for a total transaction of $93,086.18. Following the completion of the transaction, the chief accounting officer now owns 28,602 shares of the company’s stock, valued at approximately $3,903,886.98. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $166.80, for a total transaction of $3,753,000.00. Following the sale, the chief executive officer now owns 2,280,511 shares in the company, valued at $380,389,234.80. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $136.49, for a total transaction of $93,086.18. Following the sale, the chief accounting officer now directly owns 28,602 shares of the company’s stock, valued at approximately $3,903,886.98. The disclosure for this sale can be found here. Insiders have sold a total of 275,129 shares of company stock valued at $40,382,765 in the last ninety days. 0.88% of the stock is currently owned by corporate insiders.

Alphabet Price Performance

Shares of GOOGL stock opened at $167.24 on Friday. The business’s fifty day moving average is $150.14 and its 200 day moving average is $142.32. The company has a quick ratio of 2.10, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The stock has a market cap of $2.08 trillion, a price-to-earnings ratio of 25.65, a PEG ratio of 1.28 and a beta of 1.02. Alphabet Inc. has a twelve month low of $103.97 and a twelve month high of $174.71.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The firm had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $66.04 billion. During the same period in the prior year, the firm earned $1.17 EPS. Research analysts expect that Alphabet Inc. will post 7.57 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. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.48%.

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.