Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Cim Investment Management Inc.

Cim Investment Management Inc. trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,496 shares of the information services provider’s stock after selling 357 shares during the quarter. Alphabet comprises 1.7% of Cim Investment Management Inc.’s portfolio, making the stock its 8th biggest holding. Cim Investment Management Inc.’s holdings in Alphabet were worth $5,962,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new position in Alphabet in the 4th quarter valued at $24,383,677,000. FMR LLC boosted its holdings in Alphabet by 9.8% during the fourth quarter. FMR LLC now owns 248,416,916 shares of the information services provider’s stock valued at $47,025,322,000 after acquiring an additional 22,100,902 shares during the period. Wellington Management Group LLP grew its position in shares of Alphabet by 15.9% in the fourth quarter. Wellington Management Group LLP now owns 66,050,135 shares of the information services provider’s stock valued at $12,503,291,000 after purchasing an additional 9,042,271 shares during the last quarter. Proficio Capital Partners LLC increased its stake in shares of Alphabet by 20,990.0% in the fourth quarter. Proficio Capital Partners LLC now owns 6,186,748 shares of the information services provider’s stock worth $1,171,151,000 after purchasing an additional 6,157,413 shares during the period. Finally, Amundi lifted its position in shares of Alphabet by 18.7% during the 4th quarter. Amundi now owns 29,866,698 shares of the information services provider’s stock worth $5,792,317,000 after purchasing an additional 4,694,621 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 1,340 shares of Alphabet stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total transaction of $270,787.20. Following the transaction, the chief accounting officer now owns 17,848 shares of the company’s stock, valued at $3,606,723.84. This trade represents a 6.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kavitark Ram Shriram sold 29,066 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $184.89, for a total transaction of $5,374,012.74. Following the transaction, the director now owns 272,466 shares of the company’s stock, valued at approximately $50,376,238.74. This represents a 9.64 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 115,663 shares of company stock worth $20,286,447. Insiders own 11.55% of the company’s stock.

Alphabet Trading Down 1.9 %

GOOGL stock opened at $153.33 on Thursday. 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 Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The company has a market cap of $1.87 trillion, a P/E ratio of 19.05, a PEG ratio of 1.34 and a beta of 1.03. The business has a fifty day moving average of $166.53 and a 200-day moving average of $175.98.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. As a group, equities research analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date was Monday, March 10th. Alphabet’s dividend payout ratio is presently 9.94%.

Wall Street Analyst Weigh In

Several brokerages have commented on GOOGL. Piper Sandler dropped their price target on Alphabet from $208.00 to $185.00 and set an “overweight” rating on the stock in a research report on Thursday, April 10th. Citigroup lowered their price objective on shares of Alphabet from $229.00 to $195.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. UBS Group set a $190.00 target price on shares of Alphabet in a research note on Thursday, March 27th. Bank of America restated a “buy” rating and issued a $210.00 price target on shares of Alphabet in a research report on Monday, December 23rd. Finally, Morgan Stanley cut their price objective on shares of Alphabet from $215.00 to $210.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $202.46.

Alphabet Company 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.