PICTET BANK & TRUST Ltd Has $4.78 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

PICTET BANK & TRUST Ltd cut its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 14.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,255 shares of the information services provider’s stock after selling 4,265 shares during the quarter. Alphabet comprises 4.8% of PICTET BANK & TRUST Ltd’s investment portfolio, making the stock its 4th biggest holding. PICTET BANK & TRUST Ltd’s holdings in Alphabet were worth $4,781,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of GOOGL. Clarity Wealth Advisors LLC increased its position in shares of Alphabet by 0.6% during the 3rd quarter. Clarity Wealth Advisors LLC now owns 51,640 shares of the information services provider’s stock valued at $8,565,000 after purchasing an additional 304 shares during the last quarter. Meridiem Investment Management Ltd. boosted its holdings in shares of Alphabet by 2.2% during the 3rd quarter. Meridiem Investment Management Ltd. now owns 678,543 shares of the information services provider’s stock valued at $112,562,000 after purchasing an additional 14,789 shares during the last quarter. Key Client Fiduciary Advisors LLC boosted its stake in Alphabet by 3.5% during the third quarter. Key Client Fiduciary Advisors LLC now owns 9,714 shares of the information services provider’s stock valued at $1,611,000 after buying an additional 329 shares during the last quarter. Integris Wealth Management LLC grew its holdings in shares of Alphabet by 18.1% in the third quarter. Integris Wealth Management LLC now owns 2,171 shares of the information services provider’s stock valued at $360,000 after purchasing an additional 333 shares in the last quarter. Finally, Etesian Wealth Advisors Inc. increased its holdings in shares of Alphabet by 3.9% in the 3rd quarter. Etesian Wealth Advisors Inc. now owns 8,384 shares of the information services provider’s stock worth $1,391,000 after buying an additional 312 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 1,500 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $194.22, for a total value of $291,330.00. Following the completion of the sale, the director now directly owns 23,324 shares of the company’s stock, valued at approximately $4,529,987.28. This represents a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total transaction of $232,950.47. Following the completion of the sale, the chief accounting officer now owns 23,515 shares in the company, valued at $4,007,191.15. This represents a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 134,299 shares of company stock worth $25,055,751 over the last 90 days. 11.55% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on GOOGL. Piper Sandler reduced their target price on shares of Alphabet from $210.00 to $208.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Sanford C. Bernstein upped their target price on Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. DA Davidson increased their price objective on shares of Alphabet from $190.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. Roth Mkm raised their price objective on Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Loop Capital lifted their target price on Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a research note on Wednesday, November 6th. Ten research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $210.62.

Alphabet Trading Down 1.5 %

Shares of NASDAQ GOOGL opened at $172.73 on Thursday. The business has a fifty day simple moving average of $191.40 and a 200-day simple moving average of $176.11. The company has a market cap of $2.11 trillion, a price-to-earnings ratio of 21.46, a P/E/G ratio of 1.34 and a beta of 0.99. Alphabet Inc. has a 12 month low of $130.66 and a 12 month high of $207.05. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Sell-side analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.46%. Alphabet’s payout ratio is 9.94%.

About Alphabet

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.