Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Tremblant Capital Group

Tremblant Capital Group reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 43.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 102,026 shares of the information services provider's stock after selling 76,903 shares during the period. Alphabet makes up approximately 2.0% of Tremblant Capital Group's investment portfolio, making the stock its 26th biggest holding. Tremblant Capital Group's holdings in Alphabet were worth $19,314,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bennett Selby Investments LP raised its stake in Alphabet by 4.0% during the 4th quarter. Bennett Selby Investments LP now owns 1,354 shares of the information services provider's stock valued at $256,000 after purchasing an additional 52 shares during the last quarter. Macroview Investment Management LLC raised its stake in Alphabet by 4.2% during the 4th quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider's stock valued at $245,000 after purchasing an additional 52 shares during the last quarter. Cornerstone Planning Group LLC raised its stake in Alphabet by 2.3% during the 4th quarter. Cornerstone Planning Group LLC now owns 2,381 shares of the information services provider's stock valued at $457,000 after purchasing an additional 53 shares during the last quarter. Addison Advisors LLC raised its stake in Alphabet by 0.7% during the 4th quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider's stock valued at $1,425,000 after purchasing an additional 53 shares during the last quarter. Finally, Burt Wealth Advisors raised its stake in Alphabet by 1.0% during the 4th quarter. Burt Wealth Advisors now owns 5,307 shares of the information services provider's stock valued at $1,005,000 after purchasing an additional 54 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Truist Financial cut their target price on shares of Alphabet from $220.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. BMO Capital Markets reiterated an "outperform" rating and set a $200.00 target price (down from $230.00) on shares of Alphabet in a research note on Thursday, April 17th. Susquehanna cut their target price on shares of Alphabet from $225.00 to $220.00 and set a "positive" rating for the company in a research note on Friday, April 25th. Morgan Stanley dropped their price objective on shares of Alphabet from $210.00 to $185.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Finally, Rosenblatt Securities dropped their price objective on shares of Alphabet from $205.00 to $189.00 and set a "neutral" rating for the company in a research note on Friday, April 25th. Ten equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, Alphabet currently has a consensus rating of "Moderate Buy" and a consensus target price of $199.75.

Alphabet Trading Up 1.4%

GOOGL opened at $166.19 on Monday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $2.02 trillion, a PE ratio of 20.64, a PEG ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05. The firm has a 50-day moving average price of $158.21 and a two-hundred day moving average price of $175.04.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.79. The firm had revenue of $76.49 billion during the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. During the same quarter last year, the company posted $1.89 EPS. As a group, equities analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 0.51%. The ex-dividend date of this dividend is Monday, June 9th. This is a boost from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio (DPR) is presently 9.36%.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00. Following the transaction, the chief executive officer now owns 2,717,696 shares of the company's stock, valued at approximately $430,917,877.76. This trade represents a 1.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O'toole sold 2,824 shares of the firm's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $187.43, for a total transaction of $529,302.32. Following the completion of the transaction, the chief accounting officer now directly owns 15,024 shares in the company, valued at $2,815,948.32. This trade represents a 15.82% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 179,324 shares of company stock worth $30,153,353. 11.64% of the stock is currently owned by corporate insiders.

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.

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