Alphabet Inc. (NASDAQ:GOOG) Shares Sold by DoubleLine ETF Adviser LP

DoubleLine ETF Adviser LP lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOG - Free Report) by 13.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,407 shares of the information services provider's stock after selling 7,096 shares during the quarter. Alphabet makes up about 2.4% of DoubleLine ETF Adviser LP's portfolio, making the stock its 7th biggest position. DoubleLine ETF Adviser LP's holdings in Alphabet were worth $9,028,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in the stock. FMR LLC lifted its holdings in shares of Alphabet by 2.8% during the 4th quarter. FMR LLC now owns 117,991,725 shares of the information services provider's stock valued at $22,470,344,000 after purchasing an additional 3,189,592 shares during the last quarter. Geode Capital Management LLC increased its position in Alphabet by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 104,777,092 shares of the information services provider's stock valued at $19,894,651,000 after buying an additional 1,219,606 shares in the last quarter. Capital International Investors raised its stake in Alphabet by 6.7% in the fourth quarter. Capital International Investors now owns 91,236,069 shares of the information services provider's stock valued at $17,376,706,000 after buying an additional 5,758,244 shares during the last quarter. Northern Trust Corp grew its stake in shares of Alphabet by 16.1% during the fourth quarter. Northern Trust Corp now owns 57,098,042 shares of the information services provider's stock worth $10,873,751,000 after acquiring an additional 7,917,625 shares during the last quarter. Finally, Capital Research Global Investors increased its holdings in shares of Alphabet by 0.8% during the fourth quarter. Capital Research Global Investors now owns 39,148,500 shares of the information services provider's stock valued at $7,455,571,000 after acquiring an additional 294,556 shares in the last quarter. 27.26% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $156.16, for a total transaction of $5,075,200.00. Following the completion of the sale, the chief executive officer now owns 2,685,196 shares in the company, valued at $419,320,207.36. This trade represents a 1.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O'toole sold 1,340 shares of the firm's stock in a transaction 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 sale, the chief accounting officer now directly owns 17,848 shares of the company's stock, valued at approximately $3,606,723.84. This trade represents a 6.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 148,164 shares of company stock worth $25,357,390 over the last three months. Insiders own 12.99% of the company's stock.

Alphabet Price Performance

GOOG traded up $3.02 during midday trading on Friday, hitting $165.81. 16,826,135 shares of the company traded hands, compared to its average volume of 19,174,655. The company has a market capitalization of $2.01 trillion, a price-to-earnings ratio of 20.60, a PEG ratio of 1.34 and a beta of 1.01. The business has a 50 day simple moving average of $162.25 and a two-hundred day simple moving average of $177.16. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 52-week low of $142.66 and a 52-week high of $208.70.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $90.23 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Alphabet's quarterly revenue was up 12.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.89 EPS. On average, equities analysts forecast that Alphabet Inc. will post 8.89 earnings per share for the current fiscal year.

Alphabet Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GOOG. Tigress Financial restated a "strong-buy" rating on shares of Alphabet in a research note on Friday. KeyCorp cut their target price on Alphabet from $202.00 to $185.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. Benchmark reiterated a "negative" rating on shares of Alphabet in a research note on Wednesday, February 5th. Scotiabank decreased their target price on Alphabet from $232.00 to $200.00 and set a "sector outperform" rating for the company in a report on Monday, April 21st. Finally, Oppenheimer increased their price target on shares of Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a report on Friday, April 25th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, fourteen have issued a buy rating and five have given a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet currently has an average rating of "Moderate Buy" and an average price target of $203.94.

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.