Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Pennsylvania Capital Management Inc. ADV

Pennsylvania Capital Management Inc. ADV lessened its stake in Alphabet Inc. (NASDAQ:GOOGL) by 2.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 29,204 shares of the information services provider’s stock after selling 628 shares during the quarter. Alphabet accounts for approximately 1.9% of Pennsylvania Capital Management Inc. ADV’s portfolio, making the stock its 12th biggest position. Pennsylvania Capital Management Inc. ADV’s holdings in Alphabet were worth $5,528,000 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. Robbins Farley boosted its holdings in Alphabet by 3.1% in the fourth quarter. Robbins Farley now owns 19,202 shares of the information services provider’s stock valued at $3,635,000 after purchasing an additional 581 shares in the last quarter. Commonwealth Financial Services LLC increased its position in Alphabet by 109.7% in the 4th quarter. Commonwealth Financial Services LLC now owns 7,580 shares of the information services provider’s stock valued at $1,435,000 after acquiring an additional 3,966 shares during the period. Tempus Wealth Planning LLC lifted its position in Alphabet by 14.4% during the 4th quarter. Tempus Wealth Planning LLC now owns 15,193 shares of the information services provider’s stock worth $2,876,000 after acquiring an additional 1,911 shares during the period. Flavin Financial Services Inc. purchased a new position in shares of Alphabet in the 4th quarter valued at approximately $529,000. Finally, Calamos Wealth Management LLC increased its holdings in shares of Alphabet by 0.6% in the fourth quarter. Calamos Wealth Management LLC now owns 353,159 shares of the information services provider’s stock valued at $66,853,000 after purchasing an additional 2,007 shares during the period. 40.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Wolfe Research increased their price target on Alphabet from $220.00 to $230.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Robert W. Baird restated an “outperform” rating and issued a $205.00 target price on shares of Alphabet in a research note on Tuesday, December 10th. DA Davidson boosted their price target on shares of Alphabet from $190.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. China Renaissance raised shares of Alphabet from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Finally, Phillip Securities raised Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $210.62.

Insider Buying and Selling

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the completion of the transaction, the chief executive officer now directly owns 2,061,806 shares of the company’s stock, valued at $364,259,266.02. This trade represents a 1.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $170.41, for a total transaction 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 trade represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 89,529 shares of company stock valued at $16,600,078 in the last quarter. Company insiders own 11.55% of the company’s stock.

Alphabet Price Performance

GOOGL stock opened at $186.14 on Friday. The stock’s fifty day simple moving average is $192.37 and its 200-day simple moving average is $174.95. Alphabet Inc. has a 52-week low of $130.66 and a 52-week high of $207.05. The stock has a market capitalization of $2.28 trillion, a price-to-earnings ratio of 23.12, a price-to-earnings-growth ratio of 1.39 and a beta of 0.99. The company has a quick ratio of 1.95, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Equities research analysts expect that Alphabet Inc. will post 8.91 EPS for the current year.

Alphabet Dividend Announcement

The business also recently declared 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 is Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

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.