Alphabet Inc. (NASDAQ:GOOGL) is Cigna Investments Inc. New’s 8th Largest Position

Cigna Investments Inc. New decreased its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 60,191 shares of the information services provider’s stock after selling 463 shares during the quarter. Alphabet comprises approximately 2.0% of Cigna Investments Inc. New’s portfolio, making the stock its 8th biggest position. Cigna Investments Inc. New’s holdings in Alphabet were worth $11,394,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Wealthcare Capital Partners LLC purchased a new stake in Alphabet in the fourth quarter worth $235,000. True Vision MN LLC lifted its position in Alphabet by 20.5% during the fourth quarter. True Vision MN LLC now owns 3,804 shares of the information services provider’s stock valued at $720,000 after buying an additional 646 shares during the period. Sovran Advisors LLC purchased a new position in Alphabet during the fourth quarter valued at $1,458,000. Strengthening Families & Communities LLC lifted its position in Alphabet by 0.4% during the fourth quarter. Strengthening Families & Communities LLC now owns 39,543 shares of the information services provider’s stock valued at $7,485,000 after buying an additional 176 shares during the period. Finally, Compound Global Advisors LLC purchased a new position in Alphabet during the fourth quarter valued at $719,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on GOOGL. Robert W. Baird reissued an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a research report on Tuesday, December 10th. JMP Securities reissued a “market perform” rating on shares of Alphabet in a research report on Wednesday, February 5th. Cantor Fitzgerald lowered their price objective on Alphabet from $215.00 to $210.00 and set a “neutral” rating for the company in a research report on Wednesday, January 22nd. Citizens Jmp lowered Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Finally, Piper Sandler lowered their price objective on Alphabet from $210.00 to $208.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Ten 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 stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $210.62.

Alphabet Stock Down 2.7 %

NASDAQ GOOGL opened at $179.66 on Friday. The stock’s 50 day moving average is $192.46 and its 200 day moving average is $175.69. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 12 month low of $130.66 and a 12 month high of $207.05. The stock has a market cap of $2.19 trillion, a PE ratio of 22.32, a P/E/G ratio of 1.35 and a beta of 0.99.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results 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 return on equity of 32.49% and a net margin of 28.60%. Research analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.45%. Alphabet’s dividend payout ratio (DPR) is 9.94%.

Insider Transactions at Alphabet

In other news, insider John Kent Walker sold 16,820 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the transaction, the insider now owns 43,981 shares of the company’s stock, valued at approximately $8,471,620.22. The trade was a 27.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 1,340 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total value of $270,787.20. Following the transaction, the chief accounting officer now directly owns 17,848 shares in the company, valued at approximately $3,606,723.84. This represents a 6.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 134,299 shares of company stock valued at $25,055,751 in the last ninety days. 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.