Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Veritas Asset Management LLP

Veritas Asset Management LLP lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 33.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,160,305 shares of the information services provider’s stock after selling 3,140,645 shares during the quarter. Alphabet accounts for approximately 10.9% of Veritas Asset Management LLP’s holdings, making the stock its largest holding. Veritas Asset Management LLP owned 0.05% of Alphabet worth $1,166,146,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in GOOGL. Compass Planning Associates Inc purchased a new stake in shares of Alphabet in the fourth quarter valued at approximately $30,000. LMR Partners LLP purchased a new stake in shares of Alphabet in the third quarter valued at approximately $32,000. E Fund Management Hong Kong Co. Ltd. increased its position in shares of Alphabet by 518.8% in 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 buying an additional 166 shares in the last quarter. Fiduciary Advisors Inc. purchased a new stake in shares of Alphabet in the fourth quarter valued at approximately $39,000. Finally, PayPay Securities Corp boosted 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 acquiring an additional 65 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL stock opened at $165.87 on Tuesday. Alphabet Inc. has a 12-month low of $136.13 and a 12-month high of $207.05. The firm has a market capitalization of $2.02 trillion, a price-to-earnings ratio of 20.60, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02. The business has a 50 day simple moving average of $187.71 and a 200 day simple moving average of $176.56. 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 (NASDAQ:GOOGL) last issued 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%. On average, equities research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date is Monday, March 10th. Alphabet’s payout ratio is currently 9.94%.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lowered their price target on Alphabet from $232.00 to $220.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Wells Fargo & Company lifted their price target on Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Needham & Company LLC reaffirmed a “buy” rating and issued a $225.00 price target on shares of Alphabet in a research note on Wednesday, February 5th. Citizens Jmp lowered Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Finally, Cantor Fitzgerald lowered their price objective on Alphabet from $215.00 to $210.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 22nd. Ten investment 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 company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $210.62.

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 1,500 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $194.22, for a total transaction of $291,330.00. Following the completion of the sale, the director now owns 23,324 shares in the company, valued at approximately $4,529,987.28. This represents a 6.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,374 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $173.47, for a total value of $238,347.78. Following the sale, the chief accounting officer now owns 15,024 shares of the company’s stock, valued at $2,606,213.28. This trade represents a 8.38 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 97,182 shares of company stock valued at $18,192,354. 11.55% of the stock is owned by corporate insiders.

About Alphabet

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.