New York Life Investment Management LLC Sells 30,655 Shares of Alphabet Inc. (NASDAQ:GOOGL)

New York Life Investment Management LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.2% in the 4th quarter, Holdings Channel reports. The firm owned 924,561 shares of the information services provider’s stock after selling 30,655 shares during the period. Alphabet makes up 1.3% of New York Life Investment Management LLC’s investment portfolio, making the stock its 13th largest holding. New York Life Investment Management LLC’s holdings in Alphabet were worth $129,152,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Aire Advisors LLC boosted its position in Alphabet by 0.6% in the fourth quarter. Aire Advisors LLC now owns 11,772 shares of the information services provider’s stock valued at $1,645,000 after buying an additional 68 shares during the last quarter. Defined Wealth Management LLC boosted its position 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 buying an additional 71 shares during the last quarter. WealthCare Investment Partners LLC boosted its position in Alphabet by 2.1% in the fourth quarter. WealthCare Investment Partners LLC now owns 3,473 shares of the information services provider’s stock valued at $482,000 after buying an additional 71 shares during the last quarter. Peoples Financial Services CORP. boosted its position in Alphabet by 0.4% in the fourth quarter. Peoples Financial Services CORP. now owns 16,690 shares of the information services provider’s stock valued at $2,331,000 after buying an additional 72 shares during the last quarter. Finally, RAM Investment Partners LLC boosted its position in Alphabet by 1.0% in the fourth 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 last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

NASDAQ GOOGL opened at $169.96 on Friday. The stock has a market cap of $2.10 trillion, a PE ratio of 26.07, 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 $107.93 and a twelve month high of $174.71. The stock has a fifty day simple moving average of $152.06 and a 200-day simple moving average of $143.01.

Alphabet (NASDAQ:GOOGL) last released its quarterly 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. The business had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same period in the prior year, the business posted $1.17 EPS. Equities analysts anticipate that Alphabet Inc. will post 7.57 earnings per share for the current year.

Alphabet Dividend Announcement

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

Analysts Set New Price Targets

GOOGL has been the topic of a number of recent research reports. UBS Group upped their target price on Alphabet from $150.00 to $166.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Loop Capital boosted their price target on Alphabet from $155.00 to $170.00 and gave the company a “hold” rating in a report on Wednesday, May 1st. Jefferies Financial Group boosted their price target on Alphabet from $180.00 to $200.00 and gave the company a “buy” rating in a report on Friday, April 26th. Needham & Company LLC boosted their price target on Alphabet from $160.00 to $210.00 and gave the company a “buy” rating in a report on Friday, April 26th. Finally, Raymond James boosted their price target on Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Five investment analysts have rated the stock with a hold rating, thirty have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $190.60.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 2,100 shares of the 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 transaction, the director now owns 5,891 shares of the company’s stock, valued at approximately $1,035,402.16. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director John L. Hennessy sold 2,100 shares of the 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 transaction, the director now owns 5,891 shares of the company’s stock, valued at approximately $1,035,402.16. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John L. Hennessy sold 800 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $149.73, for a total value of $119,784.00. Following the completion of the sale, the director now directly owns 7,164 shares in the company, valued at approximately $1,072,665.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 252,629 shares of company stock valued at $37,091,240. Corporate insiders own 0.88% of the company’s stock.

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.