Clark Estates Inc. NY Sells 10,000 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Clark Estates Inc. NY cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 19.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,420 shares of the information services provider’s stock after selling 10,000 shares during the period. Alphabet makes up approximately 1.5% of Clark Estates Inc. NY’s investment portfolio, making the stock its 16th largest holding. Clark Estates Inc. NY’s holdings in Alphabet were worth $7,841,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in GOOGL. Compass Planning Associates Inc acquired a new position in Alphabet during the fourth quarter valued at approximately $30,000. LMR Partners LLP bought a new position in shares of Alphabet during the third quarter worth $32,000. E Fund Management Hong Kong Co. Ltd. grew its holdings in shares of Alphabet by 518.8% in the 4th 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 during the period. Fiduciary Advisors Inc. bought a new stake in shares of Alphabet in the 4th quarter valued at $39,000. Finally, PayPay Securities Corp raised its stake in Alphabet by 36.1% during the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after buying an additional 65 shares during the period. Institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. DA Davidson boosted their target price on Alphabet from $190.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. Needham & Company LLC reiterated a “buy” rating and issued a $225.00 price objective on shares of Alphabet in a research report on Wednesday, February 5th. Piper Sandler dropped their target price on shares of Alphabet from $210.00 to $208.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. JPMorgan Chase & Co. reduced their price target on shares of Alphabet from $232.00 to $220.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Finally, Stifel Nicolaus raised their price objective on shares of Alphabet from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $210.62.

Insider Activity at Alphabet

In other news, insider Ruth Porat sold 17,690 shares of Alphabet stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $183.48, for a total value of $3,245,761.20. Following the completion of the sale, the insider now directly owns 1,449,286 shares in the company, valued at approximately $265,914,995.28. The trade was a 1.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Kent Walker sold 16,820 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $192.62, for a total value of $3,239,868.40. Following the sale, the insider now directly owns 43,981 shares in the company, valued at $8,471,620.22. This represents a 27.66 % 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 in the last ninety days. 11.55% of the stock is owned by company insiders.

Alphabet Price Performance

NASDAQ:GOOGL opened at $164.29 on Tuesday. The company 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’s fifty day moving average price is $185.05 and its two-hundred day moving average price is $176.58. Alphabet Inc. has a one year low of $146.08 and a one year high of $207.05. 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 announced its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. Equities analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.49%. Alphabet’s payout ratio is currently 9.94%.

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.