Weybosset Research & Management LLC Has $11.46 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Weybosset Research & Management LLC decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 60,535 shares of the information services provider’s stock after selling 231 shares during the quarter. Alphabet accounts for approximately 3.9% of Weybosset Research & Management LLC’s holdings, making the stock its 8th biggest holding. Weybosset Research & Management LLC’s holdings in Alphabet were worth $11,459,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in GOOGL. LMR Partners LLP bought a new position in shares of Alphabet in the third quarter worth about $32,000. Denver PWM LLC bought a new position in Alphabet in the 2nd quarter worth approximately $41,000. Quarry LP acquired a new position in Alphabet during the 2nd quarter worth $53,000. Teachers Insurance & Annuity Association of America bought a new position in Alphabet in the 3rd quarter valued at $66,000. Finally, Mendota Financial Group LLC increased its stake in shares of Alphabet by 19.0% in the 3rd quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock valued at $67,000 after buying an additional 64 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider John Kent Walker sold 16,820 shares of the stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $192.62, for a total value of $3,239,868.40. Following the completion of the sale, the insider now owns 43,981 shares of the company’s stock, valued at approximately $8,471,620.22. This represents a 27.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Frances Arnold sold 441 shares of Alphabet stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following the completion of the transaction, the director now directly owns 16,490 shares in the company, valued at approximately $2,820,779.40. This represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 155,887 shares of company stock worth $27,996,356 in the last 90 days. Insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on GOOGL shares. Wells Fargo & Company lifted their price target on shares of Alphabet from $182.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. China Renaissance raised Alphabet from a “hold” rating to a “buy” rating in a research note on Thursday, October 31st. Morgan Stanley increased their target price on Alphabet from $190.00 to $205.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Sanford C. Bernstein upped their price target on Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada increased their target price on shares of Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Nine investment analysts have rated the stock with a hold rating, thirty have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus price target of $207.08.

Alphabet Stock Performance

Shares of GOOGL traded down $1.77 during midday trading on Friday, reaching $192.18. 10,829,285 shares of the stock were exchanged, compared to its average volume of 21,699,334. The stock’s 50 day simple moving average is $182.20 and its 200 day simple moving average is $173.01. The company has a market cap of $2.35 trillion, a P/E ratio of 25.49, a PEG ratio of 1.35 and a beta of 0.98. Alphabet Inc. has a twelve month low of $130.66 and a twelve month high of $201.42. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter last year, the company posted $1.55 EPS. On average, sell-side analysts expect that Alphabet Inc. will post 8.01 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.42%. The ex-dividend date was Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is 10.61%.

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.