1922 Investment Co LLC Sells 646 Shares of Alphabet Inc. (NASDAQ:GOOGL)

1922 Investment Co LLC trimmed its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 27.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,713 shares of the information services provider’s stock after selling 646 shares during the period. Alphabet makes up 10.6% of 1922 Investment Co LLC’s holdings, making the stock its 2nd largest holding. 1922 Investment Co LLC’s holdings in Alphabet were worth $324,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in GOOGL. Optivise Advisory Services LLC boosted its holdings in shares of Alphabet by 8.0% in the 4th quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider’s stock valued at $1,035,000 after purchasing an additional 403 shares in the last quarter. Community Bank N.A. increased its position in Alphabet by 6.4% during the 4th quarter. Community Bank N.A. now owns 46,173 shares of the information services provider’s stock worth $8,741,000 after purchasing an additional 2,790 shares in the last quarter. Premier Fund Managers Ltd increased its holdings in shares of Alphabet by 30.0% during the fourth quarter. Premier Fund Managers Ltd now owns 61,792 shares of the information services provider’s stock worth $11,816,000 after buying an additional 14,262 shares in the last quarter. Absolute Capital Management LLC increased its stake in Alphabet by 14.0% in the 4th quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider’s stock valued at $401,000 after buying an additional 258 shares during the last quarter. Finally, Permanent Capital Management LP bought a new position in shares of Alphabet in the fourth quarter valued at approximately $273,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Citigroup decreased their target price on Alphabet from $229.00 to $195.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. Needham & Company LLC reissued a “buy” rating and issued a $178.00 price target on shares of Alphabet in a research report on Wednesday, April 16th. Westpark Capital raised shares of Alphabet to a “strong-buy” rating in a research note on Tuesday, April 1st. Mizuho reduced their price target on shares of Alphabet from $230.00 to $205.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Finally, Wolfe Research lifted their price target on Alphabet from $220.00 to $230.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and five have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and an average price target of $200.74.

Alphabet Stock Up 2.6 %

Shares of NASDAQ:GOOGL opened at $151.47 on Wednesday. The firm has a market capitalization of $1.85 trillion, a P/E ratio of 18.82, a P/E/G ratio of 1.34 and a beta of 1.03. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The stock has a 50 day moving average price of $163.72 and a 200-day moving average price of $175.61. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. As a group, equities research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Insider Buying and Selling at Alphabet

In related 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 transaction, the chief executive officer now owns 2,717,696 shares in the company, valued at $430,917,877.76. The trade was a 1.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 673 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total transaction of $104,537.09. Following the sale, the chief accounting officer now owns 15,303 shares of the company’s stock, valued at approximately $2,377,014.99. This represents a 4.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 148,163 shares of company stock valued at $25,361,647. Corporate insiders own 11.55% of the company’s stock.

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.