Dynamic Advisor Solutions LLC Sells 18,205 Shares of Alphabet Inc. $GOOGL

Dynamic Advisor Solutions LLC lowered its position in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 13.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 121,203 shares of the information services provider’s stock after selling 18,205 shares during the quarter. Alphabet comprises approximately 1.2% of Dynamic Advisor Solutions LLC’s portfolio, making the stock its 11th biggest position. Dynamic Advisor Solutions LLC’s holdings in Alphabet were worth $37,936,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of GOOGL. Vanguard Group Inc. lifted its position in Alphabet by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 516,559,609 shares of the information services provider’s stock valued at $91,033,300,000 after acquiring an additional 6,733,278 shares during the period. State Street Corp boosted its stake in Alphabet by 1.8% during the second quarter. State Street Corp now owns 229,954,269 shares of the information services provider’s stock worth $40,524,841,000 after acquiring an additional 4,008,374 shares in the last quarter. Norges Bank purchased a new stake in Alphabet in the second quarter worth about $21,944,208,000. Capital World Investors increased its stake in shares of Alphabet by 28.0% during the third quarter. Capital World Investors now owns 53,107,572 shares of the information services provider’s stock valued at $12,910,542,000 after purchasing an additional 11,605,785 shares in the last quarter. Finally, Capital Research Global Investors increased its stake in shares of Alphabet by 15.7% during the third quarter. Capital Research Global Investors now owns 50,732,476 shares of the information services provider’s stock valued at $12,333,076,000 after purchasing an additional 6,874,381 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet News Summary

Here are the key news stories impacting Alphabet this week:

Alphabet Price Performance

Shares of GOOGL opened at $280.86 on Friday. The firm has a fifty day simple moving average of $314.18 and a two-hundred day simple moving average of $294.34. The firm has a market cap of $3.40 trillion, a PE ratio of 25.98, a P/E/G ratio of 1.70 and a beta of 1.10. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.11. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $349.00.

Alphabet (NASDAQ:GOOGLGet Free Report) last issued its quarterly earnings data on Wednesday, February 4th. The information services provider reported $2.82 earnings per share for the quarter, topping the consensus estimate of $2.57 by $0.25. Alphabet had a net margin of 32.81% and a return on equity of 35.01%. The firm had revenue of $113.83 billion for the quarter, compared to analysts’ expectations of $111.24 billion. On average, equities analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 9th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, March 9th. This represents a $0.84 annualized dividend and a yield of 0.3%. Alphabet’s dividend payout ratio is currently 7.77%.

Insider Activity

In other news, insider John Kent Walker sold 47,574 shares of the company’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $301.45, for a total value of $14,341,182.30. Following the completion of the transaction, the insider owned 13,227 shares of the company’s stock, valued at $3,987,279.15. This represents a 78.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $321.21, for a total value of $10,439,325.00. Following the completion of the transaction, the chief executive officer owned 2,244,372 shares of the company’s stock, valued at $720,914,730.12. The trade was a 1.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 2,110,165 shares of company stock worth $118,134,117. 11.64% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of a number of analyst reports. Royal Bank Of Canada boosted their price target on Alphabet from $375.00 to $400.00 and gave the stock an “outperform” rating in a research report on Thursday, February 5th. Citigroup raised their price objective on Alphabet from $350.00 to $390.00 and gave the company a “buy” rating in a research report on Friday, February 6th. DA Davidson lifted their price objective on Alphabet from $300.00 to $310.00 and gave the company a “neutral” rating in a research note on Thursday, February 5th. Pivotal Research boosted their target price on Alphabet from $400.00 to $420.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. Finally, Loop Capital increased their target price on Alphabet from $320.00 to $355.00 and gave the stock a “buy” rating in a research note on Monday, February 23rd. Three analysts have rated the stock with a Strong Buy rating, forty-three have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $367.18.

View Our Latest Stock Analysis on Alphabet

About Alphabet

(Free Report)

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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