Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Spectrum Asset Management Inc. NB CA

Spectrum Asset Management Inc. NB CA trimmed its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 8.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,945 shares of the information services provider’s stock after selling 435 shares during the period. Spectrum Asset Management Inc. NB CA’s holdings in Alphabet were worth $936,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Schear Investment Advisers LLC lifted its position in shares of Alphabet by 17.0% in the third quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock valued at $5,598,000 after acquiring an additional 4,905 shares in the last quarter. Landscape Capital Management L.L.C. raised its stake in Alphabet by 27.9% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider’s stock valued at $4,192,000 after purchasing an additional 5,516 shares during the last quarter. abrdn plc lifted its holdings in Alphabet by 10.7% in the 3rd quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock valued at $1,037,196,000 after purchasing an additional 611,233 shares in the last quarter. Olistico Wealth LLC boosted its stake in shares of Alphabet by 9.1% during the 4th quarter. Olistico Wealth LLC now owns 8,981 shares of the information services provider’s stock worth $1,700,000 after purchasing an additional 746 shares during the last quarter. Finally, Centaurus Financial Inc. grew its holdings in shares of Alphabet by 22.9% during the third quarter. Centaurus Financial Inc. now owns 61,540 shares of the information services provider’s stock worth $10,206,000 after buying an additional 11,481 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total transaction of $232,950.47. Following the completion of the transaction, the chief accounting officer now directly owns 23,515 shares of the company’s stock, valued at approximately $4,007,191.15. This represents a 5.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $176.67, for a total value of $3,975,075.00. Following the completion of the sale, the chief executive officer now directly owns 2,061,806 shares in the company, valued at approximately $364,259,266.02. This trade represents a 1.08 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 89,529 shares of company stock valued at $16,600,078. Corporate insiders own 11.55% of the company’s stock.

Alphabet Price Performance

Shares of GOOGL stock opened at $185.23 on Monday. The firm has a fifty day moving average of $192.85 and a two-hundred day moving average of $175.17. The firm has a market cap of $2.27 trillion, a P/E ratio of 23.01, a P/E/G 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 current ratio of 1.84 and a quick ratio of 1.95.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS 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%. As a group, research analysts anticipate that Alphabet Inc. will post 8.91 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.43%. Alphabet’s dividend payout ratio (DPR) is 9.94%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Roth Mkm upped their price objective on shares of Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Stifel Nicolaus increased their price target on Alphabet from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. China Renaissance upgraded Alphabet from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Bank of America reiterated a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research note on Monday, December 23rd. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $210.00 price target on shares of Alphabet in a research note on Thursday, December 12th. Ten investment 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 stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.