Laird Norton Wetherby Wealth Management LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 5.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 223,269 shares of the information services provider's stock after selling 12,942 shares during the period. Alphabet makes up about 2.0% of Laird Norton Wetherby Wealth Management LLC's portfolio, making the stock its 6th biggest position. Laird Norton Wetherby Wealth Management LLC's holdings in Alphabet were worth $42,265,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. Compass Planning Associates Inc acquired a new stake in Alphabet during the fourth quarter worth about $30,000. E Fund Management Hong Kong Co. Ltd. boosted its stake in Alphabet by 518.8% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider's stock worth $37,000 after buying an additional 166 shares during the period. Fiduciary Advisors Inc. purchased a new position in Alphabet during the fourth quarter worth about $39,000. PayPay Securities Corp boosted its stake in Alphabet by 36.1% during the fourth 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, Anderson Financial Strategies LLC purchased a new position in Alphabet during the fourth quarter worth about $49,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the company'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 sale, the chief executive officer now owns 2,717,696 shares of the company's stock, valued at $430,917,877.76. This represents a 1.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O'toole sold 2,824 shares of the company'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 sale, 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. Over the last 90 days, insiders have sold 179,324 shares of company stock valued at $30,153,353. Corporate insiders own 11.64% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts have weighed in on GOOGL shares. JPMorgan Chase & Co. lowered their target price on shares of Alphabet from $220.00 to $180.00 and set an "overweight" rating for the company in a research note on Tuesday, April 8th. Oppenheimer increased their target price on shares of Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a research note on Friday, April 25th. Westpark Capital reaffirmed a "buy" rating and set a $210.00 target price on shares of Alphabet in a research note on Thursday, May 8th. Needham & Company LLC reissued a "buy" rating and set a $178.00 price target on shares of Alphabet in a research report on Friday, April 25th. Finally, Rosenblatt Securities reduced their price target on shares of Alphabet from $205.00 to $189.00 and set a "neutral" rating on the stock in a research report on Friday, April 25th. Ten investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $199.75.
Check Out Our Latest Research Report on Alphabet
Alphabet Stock Performance
NASDAQ:GOOGL traded up $5.84 during midday trading on Wednesday, reaching $165.37. The stock had a trading volume of 48,653,458 shares, compared to its average volume of 28,978,874. The firm has a fifty day simple moving average of $158.38 and a two-hundred day simple moving average of $175.12. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock has a market cap of $2.01 trillion, a P/E ratio of 20.54, a P/E/G ratio of 1.34 and a beta of 1.01.
Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its 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. The company had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. During the same period in the previous year, the firm earned $1.89 EPS. On average, equities analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.
Alphabet Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 0.51%. This is an increase from Alphabet's previous quarterly dividend of $0.20. Alphabet's payout ratio is currently 9.36%.
Alphabet Profile
(
Free Report)
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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