Torray Investment Partners LLC Sells 8,443 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Torray Investment Partners LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 4.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 169,561 shares of the information services provider’s stock after selling 8,443 shares during the quarter. Alphabet comprises approximately 4.6% of Torray Investment Partners LLC’s investment portfolio, making the stock its largest holding. Torray Investment Partners LLC’s holdings in Alphabet were worth $32,098,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of GOOGL. Compass Planning Associates Inc acquired a new position in Alphabet in the 4th quarter worth approximately $30,000. LMR Partners LLP acquired a new position in Alphabet in the 3rd quarter worth approximately $32,000. E Fund Management Hong Kong Co. Ltd. increased its holdings in 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 worth $37,000 after buying an additional 166 shares during the period. Fiduciary Advisors Inc. acquired a new position in Alphabet in the 4th quarter worth approximately $39,000. Finally, PayPay Securities Corp boosted its position in Alphabet by 36.1% in the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after purchasing an additional 65 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Activity

In related news, insider Ruth Porat sold 17,690 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $183.48, for a total value of $3,245,761.20. Following the sale, the insider now owns 1,449,286 shares of the company’s stock, valued at approximately $265,914,995.28. This trade represents a 1.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total value 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 trade represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 93,048 shares of company stock worth $17,374,274. 11.55% of the stock is currently owned by corporate insiders.

Alphabet Stock Performance

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

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Equities research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have commented on GOOGL. Robert W. Baird restated an “outperform” rating and issued a $205.00 price objective on shares of Alphabet in a research report on Tuesday, December 10th. Morgan Stanley lowered their price objective on Alphabet from $215.00 to $210.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. 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 report on Wednesday, January 22nd. Citigroup lowered their price objective on Alphabet from $232.00 to $229.00 and set a “buy” rating on the stock in a research report on Wednesday, February 5th. Finally, Piper Sandler lowered their price objective on Alphabet from $210.00 to $208.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Ten equities research 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 stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $210.62.

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.