Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Fagan Associates Inc.

Fagan Associates Inc. lessened its stake in Alphabet Inc. (NASDAQ:GOOGL) by 0.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 255,585 shares of the information services provider’s stock after selling 1,010 shares during the quarter. Alphabet accounts for about 7.7% of Fagan Associates Inc.’s portfolio, making the stock its largest holding. Fagan Associates Inc.’s holdings in Alphabet were worth $48,382,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Bennett Selby Investments LP grew its position in shares of Alphabet by 4.0% in the fourth quarter. Bennett Selby Investments LP now owns 1,354 shares of the information services provider’s stock valued at $256,000 after purchasing an additional 52 shares in the last quarter. Macroview Investment Management LLC grew its position in shares of Alphabet by 4.2% in the fourth quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider’s stock valued at $245,000 after purchasing an additional 52 shares in the last quarter. Conrad Siegel Investment Advisors Inc. grew its position in shares of Alphabet by 0.5% in the fourth quarter. Conrad Siegel Investment Advisors Inc. now owns 9,845 shares of the information services provider’s stock valued at $1,864,000 after purchasing an additional 53 shares in the last quarter. Cornerstone Planning Group LLC grew its position in shares of Alphabet by 2.3% in the fourth quarter. Cornerstone Planning Group LLC now owns 2,381 shares of the information services provider’s stock valued at $457,000 after purchasing an additional 53 shares in the last quarter. Finally, Denver PWM LLC grew 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 in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Analyst Ratings Changes

GOOGL has been the subject of a number of analyst reports. Wells Fargo & Company upped their price target on Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Wedbush upped their price objective on Alphabet from $210.00 to $220.00 and gave the company an “outperform” rating in a report on Monday, January 6th. Piper Sandler decreased their price objective on Alphabet from $210.00 to $208.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. The Goldman Sachs Group reiterated a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a report on Thursday, December 12th. Finally, Citizens Jmp cut Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Ten research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $210.62.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,340 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $202.08, for a total transaction of $270,787.20. Following the transaction, the chief accounting officer now owns 17,848 shares of the company’s stock, valued at approximately $3,606,723.84. This trade represents a 6.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ruth Porat sold 17,690 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $183.48, for a total value of $3,245,761.20. Following the transaction, the insider now directly owns 1,449,286 shares in the company, valued at approximately $265,914,995.28. The trade was a 1.21 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 134,316 shares of company stock valued at $25,062,887 over the last quarter. 11.55% of the stock is owned by insiders.

Alphabet Stock Performance

NASDAQ:GOOGL opened at $167.01 on Tuesday. The firm has a market capitalization of $2.04 trillion, a PE ratio of 20.75, a price-to-earnings-growth ratio of 1.34 and a beta of 0.99. The business’s fifty day moving average price is $190.02 and its 200 day moving average price is $176.35. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. Alphabet Inc. has a 12 month low of $130.66 and a 12 month high of $207.05.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. On average, sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend 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.