Copperleaf Capital LLC Decreases Stake in Alphabet Inc. (NASDAQ:GOOGL)

Copperleaf Capital LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 6.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,141 shares of the information services provider’s stock after selling 982 shares during the quarter. Alphabet accounts for about 1.8% of Copperleaf Capital LLC’s holdings, making the stock its 13th largest position. Copperleaf Capital LLC’s holdings in Alphabet were worth $2,866,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in GOOGL. LMR Partners LLP bought a new position in shares of Alphabet during the 3rd quarter worth $32,000. E Fund Management Hong Kong Co. Ltd. lifted its holdings in Alphabet by 518.8% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock valued at $37,000 after purchasing an additional 166 shares during the last quarter. Fiduciary Advisors Inc. bought a new position in Alphabet during the fourth quarter worth about $39,000. PayPay Securities Corp increased its stake in shares of Alphabet by 36.1% in the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after purchasing an additional 65 shares in the last quarter. Finally, Denver PWM LLC raised its position in shares of Alphabet by 25.4% in the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock valued at $47,000 after purchasing an additional 57 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 1,340 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the completion of the sale, the chief accounting officer now directly owns 17,848 shares in the company, valued at approximately $3,606,723.84. This trade represents a 6.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 37,134 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the sale, the director now directly owns 282,832 shares in the company, valued at approximately $52,329,576.64. This represents a 11.61 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 134,309 shares of company stock worth $25,057,490. Insiders own 11.55% of the company’s stock.

Alphabet Trading Up 1.1 %

NASDAQ:GOOGL opened at $170.33 on Friday. The firm has a 50-day simple moving average of $190.58 and a 200-day simple moving average of $176.11. Alphabet Inc. has a one year low of $130.66 and a one year high of $207.05. The firm has a market cap of $2.08 trillion, a P/E ratio of 21.16, a P/E/G ratio of 1.34 and a beta of 0.99. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84.

Alphabet (NASDAQ:GOOGL) last announced 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 analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s payout ratio is presently 9.94%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on GOOGL. JPMorgan Chase & Co. reduced their price objective on shares of Alphabet from $232.00 to $220.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. JMP Securities reiterated a “market perform” rating on shares of Alphabet in a research report on Wednesday, February 5th. Needham & Company LLC reissued a “buy” rating and set a $225.00 price objective on shares of Alphabet in a report on Wednesday, February 5th. Cantor Fitzgerald reduced their target price on Alphabet from $215.00 to $210.00 and set a “neutral” rating for the company in a report on Wednesday, January 22nd. Finally, Wedbush increased their price target on shares of Alphabet from $210.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, January 6th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock 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.