Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Richard Bernstein Advisors LLC

Richard Bernstein Advisors LLC cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 6.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 112,829 shares of the information services provider’s stock after selling 7,618 shares during the period. Richard Bernstein Advisors LLC’s holdings in Alphabet were worth $21,359,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GOOGL. Lake Street Advisors Group LLC lifted its position in shares of Alphabet by 2.0% in the 4th quarter. Lake Street Advisors Group LLC now owns 69,680 shares of the information services provider’s stock valued at $13,190,000 after acquiring an additional 1,370 shares in the last quarter. JFG Wealth Management LLC lifted its position in shares of Alphabet by 90.3% in the 4th quarter. JFG Wealth Management LLC now owns 5,674 shares of the information services provider’s stock valued at $1,074,000 after acquiring an additional 2,693 shares in the last quarter. Provident Wealth Management LLC lifted its position in shares of Alphabet by 44.3% in the 4th quarter. Provident Wealth Management LLC now owns 1,299 shares of the information services provider’s stock valued at $246,000 after acquiring an additional 399 shares in the last quarter. Kirtland Hills Capital Management LLC lifted its position in shares of Alphabet by 9.0% in the 4th quarter. Kirtland Hills Capital Management LLC now owns 18,431 shares of the information services provider’s stock valued at $3,489,000 after acquiring an additional 1,523 shares in the last quarter. Finally, Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Alphabet in the 4th quarter valued at approximately $2,690,000. 40.03% of the stock is owned by institutional investors and hedge funds.

Alphabet Price Performance

NASDAQ GOOGL opened at $165.87 on Tuesday. 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 fifty day simple moving average of $187.71 and a 200 day simple moving average of $176.56. The company has a market cap of $2.02 trillion, a P/E ratio of 20.60, a P/E/G ratio of 1.34 and a beta of 1.02. Alphabet Inc. has a 1 year low of $136.13 and a 1 year high of $207.05.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (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%. On average, sell-side analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The business also recently declared 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 0.48%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 16,820 shares of the 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 sale, the insider now directly owns 43,981 shares of the company’s stock, valued at $8,471,620.22. This represents a 27.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Amie Thuener O’toole sold 2,834 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $197.55, for a total transaction of $559,856.70. Following the completion of the sale, the chief accounting officer now directly owns 20,681 shares of the company’s stock, valued at approximately $4,085,531.55. This trade represents a 12.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 97,182 shares of company stock valued at $18,192,354 in the last ninety days. Company insiders own 11.55% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. KeyCorp upped their price target on shares of Alphabet from $215.00 to $225.00 and gave the company an “overweight” rating in a research report on Friday, January 10th. The Goldman Sachs Group restated a “buy” rating and issued a $210.00 price target on shares of Alphabet in a research report on Thursday, December 12th. Citizens Jmp downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. JMP Securities reiterated a “market perform” rating on shares of Alphabet in a research note on Wednesday, February 5th. Finally, Cantor Fitzgerald dropped their price objective on shares of Alphabet from $215.00 to $210.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 22nd. Ten 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 data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target 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.