Alphabet Inc. (NASDAQ:GOOGL) Stock Position Trimmed by DoubleLine ETF Adviser LP

DoubleLine ETF Adviser LP cut its holdings in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 13.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 58,031 shares of the information services provider's stock after selling 8,645 shares during the quarter. Alphabet comprises 3.0% of DoubleLine ETF Adviser LP's holdings, making the stock its 3rd largest position. DoubleLine ETF Adviser LP's holdings in Alphabet were worth $10,985,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in GOOGL. Compass Planning Associates Inc acquired a new position in shares of Alphabet in the fourth quarter valued at about $30,000. E Fund Management Hong Kong Co. Ltd. boosted its position in Alphabet by 518.8% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider's stock valued at $37,000 after buying an additional 166 shares during the last quarter. Fiduciary Advisors Inc. purchased a new stake in Alphabet in the fourth quarter valued at approximately $39,000. PayPay Securities Corp increased its holdings in Alphabet by 36.1% in the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider's stock worth $46,000 after buying an additional 65 shares during the period. Finally, Navigoe LLC purchased a new position in Alphabet during the 4th quarter worth approximately $51,000. Institutional investors and hedge funds own 40.03% of the company's stock.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O'toole sold 1,340 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the completion of the sale, the chief accounting officer now directly owns 17,848 shares of the company's stock, valued at approximately $3,606,723.84. This represents a 6.98 % 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, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the completion of the transaction, the chief executive officer now directly owns 2,717,696 shares in the company, valued at $430,917,877.76. The trade was a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 148,164 shares of company stock worth $25,357,390 in the last 90 days. Insiders own 11.55% of the company's stock.

Alphabet Trading Up 1.7 %

Alphabet stock traded up $2.73 during trading on Friday, reaching $164.03. 25,689,744 shares of the company were exchanged, compared to its average volume of 28,193,426. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The stock's 50 day simple moving average is $160.19 and its two-hundred day simple moving average is $175.41. The company has a market capitalization of $1.99 trillion, a P/E ratio of 20.38, a PEG ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The business had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. During the same quarter in the previous year, the firm earned $1.89 EPS. On average, equities research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.51%. This is a positive change from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. Alphabet's payout ratio is presently 9.36%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on GOOGL shares. Rosenblatt Securities cut their price objective on shares of Alphabet from $205.00 to $189.00 and set a "neutral" rating on the stock in a research note on Friday, April 25th. BMO Capital Markets reaffirmed an "outperform" rating and set a $200.00 price target (down from $230.00) on shares of Alphabet in a research report on Thursday, April 17th. Truist Financial decreased their price objective on Alphabet from $220.00 to $200.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Roth Mkm reaffirmed a "buy" rating and set a $220.00 target price on shares of Alphabet in a report on Wednesday, March 19th. Finally, JMP Securities reissued a "market perform" rating on shares of Alphabet in a report on Thursday, April 10th. Ten equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and five have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $199.46.

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.