Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Worth Asset Management LLC

Worth Asset Management LLC cut its stake in Alphabet Inc. (NASDAQ:GOOGL) by 9.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,388 shares of the information services provider’s stock after selling 138 shares during the period. Worth Asset Management LLC’s holdings in Alphabet were worth $263,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently added to or reduced their stakes in GOOGL. Denver PWM LLC boosted its position in shares of Alphabet by 25.4% during the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock valued at $47,000 after acquiring an additional 57 shares in the last quarter. First PREMIER Bank lifted its stake in Alphabet by 3.8% during the third quarter. First PREMIER Bank now owns 1,655 shares of the information services provider’s stock worth $275,000 after purchasing an additional 61 shares during the period. Cutler Investment Counsel LLC boosted its holdings in Alphabet by 1.7% during the third quarter. Cutler Investment Counsel LLC now owns 3,663 shares of the information services provider’s stock valued at $607,000 after purchasing an additional 61 shares in the last quarter. MKT Advisors LLC grew its stake in shares of Alphabet by 0.8% in the 3rd quarter. MKT Advisors LLC now owns 7,363 shares of the information services provider’s stock valued at $1,221,000 after purchasing an additional 62 shares during the period. Finally, Mendota Financial Group LLC lifted its position in shares of Alphabet by 19.0% during the 3rd quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock worth $67,000 after buying an additional 64 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Alphabet Stock Down 0.2 %

Shares of Alphabet stock traded down $0.30 during trading on Wednesday, reaching $195.19. The stock had a trading volume of 13,908,421 shares, compared to its average volume of 21,703,090. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $2.39 trillion, a price-to-earnings ratio of 25.89, a P/E/G ratio of 1.35 and a beta of 0.98. Alphabet Inc. has a 52 week low of $130.66 and a 52 week high of $201.42. The stock has a fifty day moving average price of $181.36 and a two-hundred day moving average price of $172.72.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period last year, the business earned $1.55 EPS. Sell-side analysts predict that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.41%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. KeyCorp increased their price objective on Alphabet from $200.00 to $215.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Truist Financial upped their price objective on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Roth Mkm raised their price target on Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Tigress Financial increased their target price on Alphabet from $210.00 to $220.00 and gave the stock a “strong-buy” rating in a report on Thursday, September 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research note on Wednesday, October 30th. Nine analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $206.82.

Insider Transactions at Alphabet

In other news, insider John Kent Walker sold 16,820 shares of Alphabet stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $192.62, for a total value of $3,239,868.40. Following the completion of the transaction, the insider now owns 43,981 shares of the company’s stock, valued at $8,471,620.22. This trade represents a 27.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Amie Thuener O’toole sold 1,368 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total transaction of $262,040.40. Following the completion of the sale, the chief accounting officer now owns 20,681 shares of the company’s stock, valued at $3,961,445.55. This trade represents a 6.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 155,887 shares of company stock worth $27,996,356 in the last three months. Insiders own 11.55% of the company’s stock.

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.