Arnhold LLC Has $39.31 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Arnhold LLC reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 6.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 281,417 shares of the information services provider's stock after selling 19,653 shares during the quarter. Alphabet comprises approximately 4.4% of Arnhold LLC's holdings, making the stock its 3rd largest position. Arnhold LLC's holdings in Alphabet were worth $39,311,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of GOOGL. Meritage Group LP raised its stake in Alphabet by 1,061.5% during the third quarter. Meritage Group LP now owns 302 shares of the information services provider's stock valued at $40,000 after purchasing an additional 276 shares in the last quarter. Macroview Investment Management LLC lifted its holdings in shares of Alphabet by 165.8% in the 3rd quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider's stock valued at $42,000 after acquiring an additional 199 shares during the last quarter. Armor Investment Advisors LLC grew its position in Alphabet by 31.0% in the fourth quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider's stock worth $47,000 after acquiring an additional 80 shares in the last quarter. IAG Wealth Partners LLC raised its position in Alphabet by 55.9% during the fourth quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider's stock valued at $48,000 after purchasing an additional 123 shares during the period. Finally, Valued Wealth Advisors LLC bought a new stake in shares of Alphabet in the 4th quarter valued at approximately $55,000. Institutional investors own 40.03% of the company's stock.

Insider Activity at Alphabet

In other news, Director John L. Hennessy sold 2,100 shares of the business's stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $175.76, for a total transaction of $369,096.00. Following the completion of the transaction, the director now directly owns 5,891 shares of the company's stock, valued at $1,035,402.16. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $166.80, for a total value of $3,753,000.00. Following the transaction, the chief executive officer now owns 2,280,511 shares in the company, valued at approximately $380,389,234.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John L. Hennessy sold 2,100 shares of the business's stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $175.76, for a total value of $369,096.00. Following the sale, the director now owns 5,891 shares of the company's stock, valued at approximately $1,035,402.16. The disclosure for this sale can be found here. Over the last three months, insiders sold 252,629 shares of company stock worth $37,091,240. Company insiders own 0.88% of the company's stock.

Alphabet Trading Up 0.3 %

Shares of NASDAQ:GOOGL traded up $0.58 during mid-day trading on Thursday, reaching $169.96. 14,607,678 shares of the company were exchanged, compared to its average volume of 30,427,883. Alphabet Inc. has a 1 year low of $107.93 and a 1 year high of $174.71. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. The firm's 50-day simple moving average is $152.06 and its 200 day simple moving average is $143.01. The firm has a market cap of $2.10 trillion, a price-to-earnings ratio of 26.07, a P/E/G ratio of 1.28 and a beta of 1.02.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.40. The firm had revenue of $80.54 billion for the quarter, compared to analyst estimates of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same quarter in the prior year, the company earned $1.17 EPS. Equities research analysts forecast that Alphabet Inc. will post 7.57 EPS for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, June 10th. Alphabet's dividend payout ratio is currently 12.27%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Truist Financial boosted their price objective on shares of Alphabet from $170.00 to $190.00 and gave the stock a "buy" rating in a research note on Friday, April 26th. Morgan Stanley upped their price objective on Alphabet from $165.00 to $195.00 and gave the stock an "overweight" rating in a research note on Friday, April 26th. Sanford C. Bernstein lifted their target price on Alphabet from $165.00 to $180.00 and gave the company a "market perform" rating in a research note on Friday, April 26th. Wells Fargo & Company raised their price target on shares of Alphabet from $141.00 to $168.00 and gave the company an "equal weight" rating in a report on Friday, April 26th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Alphabet from $165.00 to $200.00 and gave the stock an "overweight" rating in a research note on Friday, April 26th. Five equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $190.60.

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.