Private Management Group Inc. Cuts Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Private Management Group Inc. lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 14.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 78,302 shares of the information services provider’s stock after selling 12,862 shares during the quarter. Private Management Group Inc.’s holdings in Alphabet were worth $14,823,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of GOOGL. Bennett Selby Investments LP increased its stake in shares of Alphabet by 4.0% during the 4th quarter. Bennett Selby Investments LP now owns 1,354 shares of the information services provider’s stock worth $256,000 after purchasing an additional 52 shares in the last quarter. Conrad Siegel Investment Advisors Inc. increased its stake in shares of Alphabet by 0.5% during the 4th quarter. Conrad Siegel Investment Advisors Inc. now owns 9,845 shares of the information services provider’s stock worth $1,864,000 after purchasing an additional 53 shares in the last quarter. Denver PWM LLC increased its stake in shares of Alphabet by 25.4% during the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after purchasing an additional 57 shares in the last quarter. Ignite Planners LLC increased its stake in shares of Alphabet by 0.4% during the 4th quarter. Ignite Planners LLC now owns 15,078 shares of the information services provider’s stock worth $2,892,000 after purchasing an additional 57 shares in the last quarter. Finally, Fermata Advisors LLC increased its stake in shares of Alphabet by 0.8% during the 4th quarter. Fermata Advisors LLC now owns 7,433 shares of the information services provider’s stock worth $1,407,000 after purchasing an additional 57 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 1,340 shares of Alphabet stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $202.08, for a total value of $270,787.20. Following the completion of the transaction, the chief accounting officer now directly owns 17,848 shares of the company’s stock, valued at approximately $3,606,723.84. The trade was a 6.98 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 89,529 shares of company stock valued at $16,600,078. Company insiders own 11.55% of the company’s stock.

Alphabet Price Performance

GOOGL opened at $185.23 on Friday. The company has a 50-day moving average of $192.64 and a 200-day moving average of $175.03. The company has a market capitalization of $2.27 trillion, a P/E ratio of 23.01, a PEG ratio of 1.39 and a beta of 0.99. Alphabet Inc. has a 1-year low of $130.66 and a 1-year high of $207.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.95 and a current ratio of 1.84.

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

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.43%. The ex-dividend date is Monday, March 10th. Alphabet’s payout ratio is currently 9.94%.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of analyst reports. Piper Sandler decreased their target price on shares of Alphabet from $210.00 to $208.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Roth Mkm raised their target price on shares of Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. DZ Bank lowered shares of Alphabet from a “buy” rating to a “hold” rating and set a $198.00 target price on the stock. in a research report on Thursday, February 6th. Sanford C. Bernstein raised their target price on shares of Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $210.00 price target on shares of Alphabet in a report on Thursday, December 12th. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $210.62.

Alphabet 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.