Reaves W H & Co. Inc. Sells 798 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Reaves W H & Co. Inc. trimmed its position in Alphabet Inc. (NASDAQ:GOOGL) by 6.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 11,910 shares of the information services provider’s stock after selling 798 shares during the period. Reaves W H & Co. Inc.’s holdings in Alphabet were worth $2,255,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Proficio Capital Partners LLC increased its position in Alphabet by 20,990.0% in the 4th quarter. Proficio Capital Partners LLC now owns 6,186,748 shares of the information services provider’s stock valued at $1,171,151,000 after acquiring an additional 6,157,413 shares during the period. JPMorgan Chase & Co. increased its holdings in Alphabet by 7.7% in the third quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock valued at $10,559,240,000 after purchasing an additional 4,567,275 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Alphabet during the 3rd quarter worth $513,024,000. Geode Capital Management LLC lifted its holdings in Alphabet by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock worth $22,154,651,000 after buying an additional 2,626,431 shares during the period. Finally, National Bank of Canada FI grew its position in shares of Alphabet by 26.9% in the 3rd quarter. National Bank of Canada FI now owns 10,064,598 shares of the information services provider’s stock valued at $1,669,300,000 after buying an additional 2,136,128 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Activity at Alphabet

In other news, Director John L. Hennessy sold 200 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the completion of the transaction, the director now directly owns 7,813 shares of the company’s stock, valued at $1,293,285.89. This represents a 2.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 1,368 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total value of $262,040.40. Following the completion of the transaction, the chief accounting officer now owns 20,681 shares in the company, valued at approximately $3,961,445.55. The trade was a 6.20 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 93,048 shares of company stock worth $17,374,274. 11.55% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on GOOGL shares. Wedbush lifted their price objective on Alphabet from $210.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday, January 6th. Wolfe Research boosted their price target on shares of Alphabet from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Piper Sandler lowered their target price on shares of Alphabet from $210.00 to $208.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Robert W. Baird reaffirmed an “outperform” rating and set a $205.00 price target on shares of Alphabet in a research report on Tuesday, December 10th. Finally, Wells Fargo & Company lifted their price objective on Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $210.62.

Alphabet Trading Up 1.7 %

NASDAQ:GOOGL opened at $165.49 on Monday. Alphabet Inc. has a 52 week low of $140.03 and a 52 week high of $207.05. The firm has a 50-day moving average price of $185.70 and a two-hundred day moving average price of $176.56. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The firm has a market cap of $2.02 trillion, a price-to-earnings ratio of 20.56, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results 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 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 issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is currently 9.94%.

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.