Mine & Arao Wealth Creation & Management LLC. Reduces Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Mine & Arao Wealth Creation & Management LLC. cut its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 2.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,161 shares of the information services provider’s stock after selling 313 shares during the quarter. Alphabet makes up approximately 1.1% of Mine & Arao Wealth Creation & Management LLC.’s holdings, making the stock its 13th largest holding. Mine & Arao Wealth Creation & Management LLC.’s holdings in Alphabet were worth $2,491,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. State Street Corp grew its holdings in shares of Alphabet by 0.3% during the 3rd quarter. State Street Corp now owns 222,555,548 shares of the information services provider’s stock worth $36,910,838,000 after acquiring an additional 743,369 shares during the period. Geode Capital Management LLC boosted its stake in Alphabet by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock valued at $22,154,651,000 after purchasing an additional 2,626,431 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Alphabet by 7.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock worth $10,559,240,000 after purchasing an additional 4,567,275 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of Alphabet by 2.5% in the third quarter. Fisher Asset Management LLC now owns 49,857,900 shares of the information services provider’s stock worth $8,268,933,000 after purchasing an additional 1,237,385 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Alphabet by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 37,233,079 shares of the information services provider’s stock valued at $6,175,106,000 after purchasing an additional 523,416 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Activity

In other news, insider John Kent Walker sold 16,820 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $192.62, for a total value of $3,239,868.40. Following the completion of the transaction, the insider now directly owns 43,981 shares in the company, valued at $8,471,620.22. This trade represents a 27.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $170.41, for a total value of $232,950.47. Following the completion of the sale, the chief accounting officer now owns 23,515 shares in the company, valued at approximately $4,007,191.15. This represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 89,529 shares of company stock worth $16,600,078 over the last 90 days. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Stock Down 3.3 %

Shares of NASDAQ GOOGL opened at $185.34 on Friday. The stock has a 50 day moving average price of $191.28 and a 200 day moving average price of $174.64. The firm has a market capitalization of $2.27 trillion, a price-to-earnings ratio of 24.58, a PEG ratio of 1.31 and a beta of 0.99. Alphabet Inc. has a 52-week low of $130.66 and a 52-week high of $207.05. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. Sell-side analysts expect that Alphabet Inc. will post 8.02 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s dividend payout ratio is currently 10.61%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Citigroup dropped their target price on shares of Alphabet from $232.00 to $229.00 and set a “buy” rating on the stock in a report on Wednesday. Robert W. Baird restated an “outperform” rating and issued a $205.00 price target on shares of Alphabet in a research note on Tuesday, December 10th. Scotiabank upgraded Alphabet to a “strong-buy” rating in a research report on Friday, October 11th. Wedbush upped their target price on shares of Alphabet from $210.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, January 6th. Finally, China Renaissance upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $210.62.

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.