Cary Street Partners Investment Advisory LLC Sells 141,748 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Cary Street Partners Investment Advisory LLC decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 99.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 629 shares of the information services provider’s stock after selling 141,748 shares during the period. Cary Street Partners Investment Advisory LLC’s holdings in Alphabet were worth $88,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of GOOGL. Aire Advisors LLC lifted its position in shares of Alphabet by 0.6% during the 4th quarter. Aire Advisors LLC now owns 11,772 shares of the information services provider’s stock valued at $1,645,000 after acquiring an additional 68 shares during the period. Defined Wealth Management LLC increased its stake in Alphabet by 2.9% in the fourth quarter. Defined Wealth Management LLC now owns 2,531 shares of the information services provider’s stock valued at $354,000 after purchasing an additional 71 shares in the last quarter. WealthCare Investment Partners LLC raised its holdings in shares of Alphabet by 2.1% during the fourth quarter. WealthCare Investment Partners LLC now owns 3,473 shares of the information services provider’s stock valued at $482,000 after purchasing an additional 71 shares during the period. Peoples Financial Services CORP. boosted its position in shares of Alphabet by 0.4% during the 4th quarter. Peoples Financial Services CORP. now owns 16,690 shares of the information services provider’s stock worth $2,331,000 after purchasing an additional 72 shares in the last quarter. Finally, RAM Investment Partners LLC grew its stake in shares of Alphabet by 1.0% in the 4th quarter. RAM Investment Partners LLC now owns 7,550 shares of the information services provider’s stock valued at $1,055,000 after buying an additional 73 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $166.80, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $166.80, for a total value of $3,753,000.00. Following the sale, the chief executive officer now directly owns 2,280,511 shares of the company’s stock, valued at $380,389,234.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 2,100 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 5,891 shares of the company’s stock, valued at approximately $1,035,402.16. The disclosure for this sale can be found here. Insiders sold 252,629 shares of company stock worth $37,091,240 in the last three months. Corporate insiders own 0.88% of the company’s stock.

Alphabet Price Performance

Alphabet stock opened at $171.25 on Wednesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. Alphabet Inc. has a one year low of $105.16 and a one year high of $174.71. The firm has a market capitalization of $2.12 trillion, a P/E ratio of 26.27, a PEG ratio of 1.28 and a beta of 1.02. The business has a fifty day moving average price of $151.40 and a 200-day moving average price of $142.83.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The firm had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $66.04 billion. During the same period in the prior year, the business posted $1.17 earnings per share. As a group, equities research analysts forecast that Alphabet Inc. will post 7.57 EPS for the current year.

Alphabet Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts recently weighed in on GOOGL shares. Barclays upped their price target on Alphabet from $173.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. Morgan Stanley lifted their price target on shares of Alphabet from $165.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. TD Cowen upped their price objective on shares of Alphabet from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Canaccord Genuity Group lifted their price objective on shares of Alphabet from $190.00 to $210.00 and gave the company a “buy” rating in a report on Friday, April 26th. Finally, Roth Mkm upped their target price on shares of Alphabet from $164.00 to $202.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Five investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $190.60.

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.