Alphabet Inc. (NASDAQ:GOOGL) Holdings Cut by Compass Capital Management Inc.

Compass Capital Management Inc. trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 411,262 shares of the information services provider’s stock after selling 24,098 shares during the quarter. Alphabet makes up 4.1% of Compass Capital Management Inc.’s investment portfolio, making the stock its 10th largest position. Compass Capital Management Inc.’s holdings in Alphabet were worth $57,449,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GOOGL. Kathleen S. Wright Associates Inc. lifted its holdings in Alphabet by 2.4% during the third quarter. Kathleen S. Wright Associates Inc. now owns 10,560 shares of the information services provider’s stock valued at $1,382,000 after purchasing an additional 250 shares in the last quarter. PDS Planning Inc lifted its stake in shares of Alphabet by 2.6% in the third quarter. PDS Planning Inc now owns 27,483 shares of the information services provider’s stock worth $3,596,000 after buying an additional 705 shares in the last quarter. Trinity Street Asset Management LLP lifted its stake in shares of Alphabet by 2.9% in the third quarter. Trinity Street Asset Management LLP now owns 180,769 shares of the information services provider’s stock worth $23,655,000 after buying an additional 5,088 shares in the last quarter. Commonwealth Equity Services LLC lifted its stake in shares of Alphabet by 1.8% in the third quarter. Commonwealth Equity Services LLC now owns 2,528,818 shares of the information services provider’s stock worth $330,921,000 after buying an additional 45,323 shares in the last quarter. Finally, FAS Wealth Partners Inc. lifted its stake in shares of Alphabet by 2.8% in the third quarter. FAS Wealth Partners Inc. now owns 24,248 shares of the information services provider’s stock worth $3,173,000 after buying an additional 654 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 300 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $139.51, for a total transaction of $41,853.00. Following the completion of the sale, the director now owns 9,291 shares in the company, valued at approximately $1,296,187.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director John L. Hennessy sold 500 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $149.50, for a total value of $74,750.00. Following the completion of the sale, the director now owns 8,791 shares in the company, valued at approximately $1,314,254.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 300 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $139.51, for a total transaction of $41,853.00. Following the completion of the sale, the director now owns 9,291 shares of the company’s stock, valued at approximately $1,296,187.41. The disclosure for this sale can be found here. In the last quarter, insiders sold 252,629 shares of company stock worth $37,091,240. 0.88% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on GOOGL shares. JPMorgan Chase & Co. raised their price target on shares of Alphabet from $165.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. Oppenheimer raised their price target on shares of Alphabet from $185.00 to $205.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Wedbush raised their price target on shares of Alphabet from $175.00 to $205.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Piper Sandler restated an “overweight” rating and set a $200.00 price objective (up from $160.00) on shares of Alphabet in a research report on Friday, April 26th. Finally, Wolfe Research raised their price objective on shares of Alphabet from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Five analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $190.60.

Alphabet Stock Down 1.1 %

Shares of NASDAQ:GOOGL opened at $169.38 on Thursday. The company has a market capitalization of $2.09 trillion, a PE ratio of 25.98, a P/E/G ratio of 1.28 and a beta of 1.02. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a twelve month low of $107.19 and a twelve month high of $174.71. The firm has a 50 day simple moving average of $151.40 and a 200-day simple moving average of $142.83.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.40. The business had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same quarter in the previous year, the firm earned $1.17 EPS. On average, equities analysts predict that Alphabet Inc. will post 7.57 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, June 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. Alphabet’s dividend payout ratio is presently 12.27%.

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.