Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Arnhold LLC

Arnhold LLC lowered its position in Alphabet Inc. (NASDAQ:GOOGL) by 6.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 281,417 shares of the information services provider’s stock after selling 19,653 shares during the quarter. Alphabet makes up about 4.4% of Arnhold LLC’s holdings, making the stock its 3rd largest position. Arnhold LLC’s holdings in Alphabet were worth $39,311,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in GOOGL. Kathleen S. Wright Associates Inc. lifted its position in Alphabet by 2.4% in 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 during the period. PDS Planning Inc lifted its position in shares of Alphabet by 2.6% during the 3rd quarter. PDS Planning Inc now owns 27,483 shares of the information services provider’s stock valued at $3,596,000 after acquiring an additional 705 shares during the period. Trinity Street Asset Management LLP lifted its position in shares of Alphabet by 2.9% during the 3rd quarter. Trinity Street Asset Management LLP now owns 180,769 shares of the information services provider’s stock valued at $23,655,000 after acquiring an additional 5,088 shares during the period. Commonwealth Equity Services LLC lifted its position in shares of Alphabet by 1.8% during the 3rd quarter. Commonwealth Equity Services LLC now owns 2,528,818 shares of the information services provider’s stock valued at $330,921,000 after acquiring an additional 45,323 shares during the period. Finally, FAS Wealth Partners Inc. lifted its position in shares of Alphabet by 2.8% during the 3rd quarter. FAS Wealth Partners Inc. now owns 24,248 shares of the information services provider’s stock valued at $3,173,000 after acquiring an additional 654 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analysts Set New Price Targets

GOOGL has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their price target on shares of Alphabet from $165.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Rosenblatt Securities lifted their price target on shares of Alphabet from $172.00 to $182.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Redburn Atlantic lifted their price target on shares of Alphabet from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Citigroup lifted their price target on shares of Alphabet from $168.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Finally, TD Cowen lifted their price target on shares of Alphabet from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Five research 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. According to MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $190.60.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $136.49, for a total value of $93,086.18. Following the transaction, the chief accounting officer now owns 28,602 shares in the company, valued at approximately $3,903,886.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $136.49, for a total value of $93,086.18. Following the completion of the sale, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John L. Hennessy sold 2,100 shares of the business’s 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 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 have sold 252,629 shares of company stock worth $37,091,240 in the last quarter. 0.88% of the stock is owned by corporate insiders.

Alphabet Stock Performance

Shares of GOOGL stock opened at $169.38 on Thursday. Alphabet Inc. has a 12 month low of $107.19 and a 12 month high of $174.71. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. The firm has a market capitalization of $2.09 trillion, a P/E ratio of 25.98, a P/E/G ratio of 1.28 and a beta of 1.02. The company’s fifty day moving average price is $151.40 and its two-hundred day moving average price is $142.83.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 EPS 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 analyst estimates of $66.04 billion. During the same quarter in the previous year, the business posted $1.17 EPS. On average, research analysts anticipate that Alphabet Inc. will post 7.57 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. Alphabet’s dividend payout ratio is currently 12.27%.

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.