Alta Capital Management LLC Sells 26,915 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Alta Capital Management LLC cut its position in Alphabet Inc. (NASDAQ:GOOGL) by 3.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 662,658 shares of the information services provider’s stock after selling 26,915 shares during the quarter. Alphabet makes up about 7.5% of Alta Capital Management LLC’s holdings, making the stock its biggest position. Alta Capital Management LLC’s holdings in Alphabet were worth $125,441,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Schear Investment Advisers LLC grew its position in Alphabet by 17.0% in the 3rd quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock worth $5,598,000 after purchasing an additional 4,905 shares during the last quarter. Landscape Capital Management L.L.C. grew its position in Alphabet by 27.9% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider’s stock worth $4,192,000 after purchasing an additional 5,516 shares during the last quarter. Olistico Wealth LLC lifted its holdings in shares of Alphabet by 9.1% during the 4th quarter. Olistico Wealth LLC now owns 8,981 shares of the information services provider’s stock worth $1,700,000 after acquiring an additional 746 shares during the period. Centaurus Financial Inc. lifted its holdings in shares of Alphabet by 22.9% during the 3rd quarter. Centaurus Financial Inc. now owns 61,540 shares of the information services provider’s stock worth $10,206,000 after acquiring an additional 11,481 shares during the period. Finally, Highline Wealth Partners LLC lifted its holdings in shares of Alphabet by 22.7% during the 4th quarter. Highline Wealth Partners LLC now owns 23,164 shares of the information services provider’s stock worth $4,385,000 after acquiring an additional 4,285 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Down 0.7 %

Shares of NASDAQ GOOGL opened at $164.29 on Tuesday. The stock has a market cap of $2.00 trillion, a P/E ratio of 20.41, a P/E/G ratio of 1.34 and a beta of 1.02. The firm has a 50 day moving average price of $185.05 and a 200 day moving average price of $176.58. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. Alphabet Inc. has a 52-week low of $146.08 and a 52-week high of $207.05.

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, beating 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%. Analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 1,340 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total value of $270,787.20. Following the sale, the chief accounting officer now owns 17,848 shares of the company’s stock, valued at $3,606,723.84. The trade was a 6.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 200 shares of the business’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total transaction of $33,106.00. Following the completion of the sale, the director now directly owns 7,813 shares in the company, valued at approximately $1,293,285.89. This represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 93,048 shares of company stock worth $17,374,274 over the last quarter. 11.55% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on GOOGL shares. Needham & Company LLC reaffirmed a “buy” rating and set a $225.00 price objective on shares of Alphabet in a report on Wednesday, February 5th. Wedbush raised their price objective on shares of Alphabet from $210.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, January 6th. Morgan Stanley reduced their price objective on shares of Alphabet from $215.00 to $210.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Cantor Fitzgerald reduced their price objective on shares of Alphabet from $215.00 to $210.00 and set a “neutral” rating for the company in a report on Wednesday, January 22nd. Finally, Bank of America reaffirmed a “buy” rating and set a $210.00 price objective on shares of Alphabet in a report on Monday, December 23rd. Ten research 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 company presently has an average rating of “Moderate Buy” and a consensus target price of $210.62.

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.