Sage Rhino Capital LLC Sells 128 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Sage Rhino Capital LLC cut its stake in Alphabet Inc. (NASDAQ:GOOGL) by 1.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,216 shares of the information services provider’s stock after selling 128 shares during the period. Sage Rhino Capital LLC’s holdings in Alphabet were worth $1,567,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. RWQ Financial Management Services Inc. grew its holdings in Alphabet by 8.2% during the 4th quarter. RWQ Financial Management Services Inc. now owns 61,499 shares of the information services provider’s stock worth $8,591,000 after acquiring an additional 4,664 shares in the last quarter. Robbins Farley lifted its position in shares of Alphabet by 0.8% during the fourth quarter. Robbins Farley now owns 15,006 shares of the information services provider’s stock valued at $2,096,000 after buying an additional 118 shares during the last quarter. Quantum Financial Advisors LLC lifted its position in shares of Alphabet by 8.0% during the third quarter. Quantum Financial Advisors LLC now owns 7,623 shares of the information services provider’s stock valued at $998,000 after buying an additional 564 shares during the last quarter. Colton Groome Financial Advisors LLC lifted its position in shares of Alphabet by 3.8% during the fourth quarter. Colton Groome Financial Advisors LLC now owns 2,700 shares of the information services provider’s stock valued at $377,000 after buying an additional 100 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its position in shares of Alphabet by 2.4% during the third quarter. Acadian Asset Management LLC now owns 4,416,533 shares of the information services provider’s stock valued at $577,908,000 after buying an additional 104,366 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $169.38 on Thursday. The stock has a market capitalization of $2.09 trillion, a price-to-earnings ratio of 25.98, a PEG ratio of 1.28 and a beta of 1.02. Alphabet Inc. has a 12 month low of $107.19 and a 12 month high of $174.71. The firm’s 50 day simple moving average is $151.40 and its 200-day simple moving average is $142.83. 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 (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $66.04 billion. During the same quarter last year, the company earned $1.17 EPS. Analysts expect that Alphabet Inc. will post 7.57 EPS for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be paid a $0.20 dividend. The ex-dividend date of this dividend 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%.

Analysts Set New Price Targets

Several analysts have commented on GOOGL shares. Redburn Atlantic increased 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. Mizuho increased their price target on shares of Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Rosenblatt Securities increased 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. Jefferies Financial Group increased their price target on shares of Alphabet from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Finally, KeyCorp increased their price objective on shares of Alphabet from $165.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd. Five investment 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $190.60.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $143.08, for a total value of $3,219,300.00. Following the sale, the chief executive officer now owns 2,355,191 shares of the company’s stock, valued at approximately $336,980,728.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Alphabet news, Director John L. Hennessy sold 2,100 shares of the firm’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $175.76, for a total value of $369,096.00. Following the transaction, the director now owns 5,891 shares in the company, valued at approximately $1,035,402.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $143.08, for a total value of $3,219,300.00. Following the completion of the transaction, the chief executive officer now owns 2,355,191 shares in the company, valued at approximately $336,980,728.28. The disclosure for this sale can be found here. In the last quarter, insiders have sold 252,629 shares of company stock valued at $37,091,240. 0.88% of the stock is owned by company insiders.

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.