Colonial River Investments LLC Sells 222 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Colonial River Investments LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 18,487 shares of the information services provider’s stock after selling 222 shares during the quarter. Alphabet comprises about 1.7% of Colonial River Investments LLC’s investment portfolio, making the stock its 8th largest position. Colonial River Investments LLC’s holdings in Alphabet were worth $3,500,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Compass Planning Associates Inc acquired a new stake in Alphabet in the 4th quarter valued at about $30,000. LMR Partners LLP acquired a new stake in shares of Alphabet during the 3rd quarter worth about $32,000. E Fund Management Hong Kong Co. Ltd. boosted its stake in shares of Alphabet by 518.8% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock worth $37,000 after purchasing an additional 166 shares during the last quarter. Fiduciary Advisors Inc. acquired a new stake in shares of Alphabet during the 4th quarter worth about $39,000. Finally, PayPay Securities Corp boosted its stake in shares of Alphabet by 36.1% during the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after purchasing an additional 65 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Stock Up 0.9 %

GOOGL stock opened at $173.86 on Friday. Alphabet Inc. has a twelve month low of $134.00 and a twelve month high of $207.05. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $2.12 trillion, a P/E ratio of 21.60, a PEG ratio of 1.34 and a beta of 1.02. The firm has a 50 day simple moving average of $188.21 and a 200-day simple moving average of $176.47.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. On average, equities research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s dividend payout ratio is presently 9.94%.

Wall Street Analyst Weigh In

GOOGL has been the topic of several analyst reports. Wells Fargo & Company raised their price target on shares of Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. KeyCorp increased their price objective on shares of Alphabet from $215.00 to $225.00 and gave the stock an “overweight” rating in a report on Friday, January 10th. Piper Sandler cut their price objective on shares of Alphabet from $210.00 to $208.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Wolfe Research increased their price objective on shares of Alphabet from $220.00 to $230.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $225.00 price objective on shares of Alphabet in a report on Wednesday, February 5th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus price target of $210.62.

Insiders Place Their Bets

In other Alphabet news, insider John Kent Walker sold 16,820 shares of Alphabet stock in a transaction on Monday, December 30th. The shares were sold at an average price of $192.62, for a total value of $3,239,868.40. Following the completion of the transaction, the insider now owns 43,981 shares of the company’s stock, valued at $8,471,620.22. The trade was a 27.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Amie Thuener O’toole sold 1,340 shares of Alphabet stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total transaction 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. This represents a 6.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 134,316 shares of company stock valued at $25,062,887 over the last 90 days. 11.55% of the stock is owned by company insiders.

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.