Cable Hill Partners LLC Has $2.38 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Cable Hill Partners LLC boosted its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,577 shares of the information services provider’s stock after purchasing an additional 549 shares during the period. Alphabet comprises 0.2% of Cable Hill Partners LLC’s holdings, making the stock its 25th largest position. Cable Hill Partners LLC’s holdings in Alphabet were worth $2,381,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Whipplewood Advisors LLC acquired a new position in Alphabet during the fourth quarter worth $1,017,000. NewEdge Wealth LLC increased its stake in Alphabet by 6.1% in the 4th quarter. NewEdge Wealth LLC now owns 732,060 shares of the information services provider’s stock valued at $138,579,000 after buying an additional 42,122 shares during the last quarter. Oakwell Private Wealth Management LLC boosted its stake in shares of Alphabet by 4.6% during the 4th quarter. Oakwell Private Wealth Management LLC now owns 7,231 shares of the information services provider’s stock worth $1,369,000 after buying an additional 315 shares during the last quarter. Magnolia Private Wealth LLC bought a new position in shares of Alphabet in the 4th quarter valued at about $639,000. Finally, Sincerus Advisory LLC bought a new position in shares of Alphabet in the 4th quarter valued at about $206,000. 40.03% of the stock is currently owned by institutional investors.

Alphabet Stock Down 1.1 %

NASDAQ GOOGL opened at $164.04 on Wednesday. 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 cap of $2.00 trillion, a price-to-earnings ratio of 20.38, a PEG ratio of 1.34 and a beta of 1.02. The company has a 50 day moving average of $187.20 and a 200-day moving average of $176.55. Alphabet Inc. has a 1-year low of $137.03 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 EPS for the quarter, topping 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 expect that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. 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

In other Alphabet news, CAO Amie Thuener O’toole sold 2,834 shares of the company’s stock in a transaction on Monday, December 16th. The stock was 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 in the company, valued at $4,085,531.55. This represents a 12.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kavitark Ram Shriram sold 29,066 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $184.89, for a total value of $5,374,012.74. Following the completion of the sale, the director now directly owns 272,466 shares in the company, valued at approximately $50,376,238.74. This represents a 9.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 97,182 shares of company stock valued at $18,192,354 over the last quarter. 11.55% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

GOOGL has been the subject of several recent research reports. KeyCorp increased their price target on Alphabet from $215.00 to $225.00 and gave the company an “overweight” rating in a research report on Friday, January 10th. Morgan Stanley cut their price objective on Alphabet from $215.00 to $210.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Wolfe Research raised their target price on shares of Alphabet from $220.00 to $230.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Stifel Nicolaus upped their price target on shares of Alphabet from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Finally, Wells Fargo & Company increased their price target on shares of Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. Ten analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $210.62.

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.