Bellevue Asset Management LLC Sells 123 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Bellevue Asset Management LLC cut its position in Alphabet Inc. (NASDAQ:GOOGL) by 1.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,532 shares of the information services provider’s stock after selling 123 shares during the quarter. Alphabet comprises about 0.8% of Bellevue Asset Management LLC’s holdings, making the stock its 20th largest position. Bellevue Asset Management LLC’s holdings in Alphabet were worth $1,332,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Financial Management Network Inc. raised its stake in shares of Alphabet by 1.6% during the 3rd quarter. Financial Management Network Inc. now owns 17,368 shares of the information services provider’s stock valued at $2,349,000 after purchasing an additional 276 shares during the period. Essex Private Wealth Management LLC bought a new stake in shares of Alphabet during the 3rd quarter valued at $216,000. Raymond James & Associates raised its stake in shares of Alphabet by 1.8% during the 3rd quarter. Raymond James & Associates now owns 8,853,313 shares of the information services provider’s stock valued at $1,158,544,000 after purchasing an additional 156,265 shares during the period. 1834 Investment Advisors Co. raised its stake in shares of Alphabet by 0.3% during the 3rd quarter. 1834 Investment Advisors Co. now owns 69,055 shares of the information services provider’s stock valued at $9,037,000 after purchasing an additional 196 shares during the period. Finally, Beach Investment Counsel Inc. PA raised its stake in shares of Alphabet by 45.4% during the 3rd quarter. Beach Investment Counsel Inc. PA now owns 151,985 shares of the information services provider’s stock valued at $19,889,000 after purchasing an additional 47,454 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Alphabet Stock Down 0.8 %

Shares of Alphabet stock opened at $168.65 on Friday. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a twelve month low of $114.41 and a twelve month high of $174.71. The company has a market cap of $2.08 trillion, a price-to-earnings ratio of 25.87, a price-to-earnings-growth ratio of 1.30 and a beta of 1.02. The company’s 50 day moving average is $153.32 and its 200 day moving average is $143.42.

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, topping analysts’ consensus estimates of $1.49 by $0.40. The firm had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same period last year, the business posted $1.17 EPS. Research analysts anticipate that Alphabet Inc. will post 7.57 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently declared 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. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. The ex-dividend date is Monday, June 10th.

Insider Transactions at Alphabet

In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $136.49, for a total transaction of $93,086.18. Following the completion of the sale, the chief accounting officer now directly owns 28,602 shares in the company, valued at $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 Alphabet news, Director John L. Hennessy sold 300 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $139.51, for a total value 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $136.49, for a total value of $93,086.18. Following the completion of the transaction, the chief accounting officer now directly owns 28,602 shares of the company’s stock, valued at approximately $3,903,886.98. 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. Company insiders own 0.88% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on GOOGL. Evercore ISI upped their target price on Alphabet from $160.00 to $220.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Loop Capital increased their price objective on Alphabet from $155.00 to $170.00 and gave the company a “hold” rating in a research report on Wednesday, May 1st. Morgan Stanley increased their price objective on Alphabet from $165.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Wells Fargo & Company increased their price objective on Alphabet from $141.00 to $168.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Finally, Jefferies Financial Group raised their price target on Alphabet from $180.00 to $200.00 and gave the stock a “buy” rating in a research 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 given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $190.60.

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.