CNA Financial Corp Trims Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

CNA Financial Corp lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 76.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,000 shares of the information services provider’s stock after selling 47,500 shares during the quarter. Alphabet accounts for 1.4% of CNA Financial Corp’s portfolio, making the stock its 15th largest position. CNA Financial Corp’s holdings in Alphabet were worth $2,095,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of GOOGL. Aire Advisors LLC raised its position in shares of Alphabet by 0.6% during the fourth quarter. Aire Advisors LLC now owns 11,772 shares of the information services provider’s stock worth $1,645,000 after purchasing an additional 68 shares during the period. Defined Wealth Management LLC increased its position in shares of Alphabet by 2.9% during the 4th quarter. Defined Wealth Management LLC now owns 2,531 shares of the information services provider’s stock valued at $354,000 after purchasing an additional 71 shares during the last quarter. WealthCare Investment Partners LLC raised 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 worth $482,000 after acquiring an additional 71 shares during the period. Peoples Financial Services CORP. raised its holdings in shares of Alphabet by 0.4% in the 4th quarter. Peoples Financial Services CORP. now owns 16,690 shares of the information services provider’s stock worth $2,331,000 after purchasing an additional 72 shares during the period. Finally, RAM Investment Partners LLC grew its holdings in Alphabet by 1.0% during the 4th 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 in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on GOOGL shares. Wells Fargo & Company boosted their price target on shares of Alphabet from $141.00 to $168.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Evercore ISI lifted their price target on Alphabet from $160.00 to $220.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Piper Sandler reiterated an “overweight” rating and set a $200.00 price target (up from $160.00) on shares of Alphabet in a research report on Friday, April 26th. Loop Capital raised their price target on Alphabet from $155.00 to $170.00 and gave the stock a “hold” rating in a research report on Wednesday, May 1st. Finally, Citigroup boosted their price objective on Alphabet from $168.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Five investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $191.57.

Read Our Latest Analysis on GOOGL

Alphabet Stock Performance

Shares of GOOGL stock opened at $174.99 on Monday. The firm has a market capitalization of $2.16 trillion, a PE ratio of 26.84, a P/E/G ratio of 1.31 and a beta of 1.02. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The company has a 50 day moving average price of $160.81 and a 200-day moving average price of $146.91. Alphabet Inc. has a 52 week low of $115.35 and a 52 week high of $178.77.

Alphabet (NASDAQ:GOOGLGet Free Report) 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. The business had revenue of $80.54 billion during 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 in the previous year, the company posted $1.17 EPS. As a group, equities research analysts expect that Alphabet Inc. will post 7.61 earnings per share for the current year.

Alphabet Dividend Announcement

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 given a $0.20 dividend. The ex-dividend date is Monday, June 10th. This represents a $0.80 annualized dividend and a yield of 0.46%.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the transaction, the chief executive officer now directly owns 2,332,691 shares in the company, valued at approximately $309,548,095.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the completion of the sale, the chief executive officer now directly owns 2,332,691 shares of the company’s stock, valued at approximately $309,548,095.70. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the company’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $166.67, for a total transaction of $113,668.94. Following the completion of the sale, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at $4,880,764.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 205,935 shares of company stock worth $31,178,987. 11.55% of the stock is currently owned by company insiders.

Alphabet Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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