Alphabet Inc. (NASDAQ:GOOGL) is Arjuna Capital’s 4th Largest Position

Arjuna Capital lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 7.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 94,934 shares of the information services provider’s stock after selling 7,640 shares during the period. Alphabet accounts for about 4.8% of Arjuna Capital’s investment portfolio, making the stock its 4th biggest holding. Arjuna Capital’s holdings in Alphabet were worth $17,971,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Pettinga Financial Advisors LLC increased its position in shares of Alphabet by 10.1% in the 3rd quarter. Pettinga Financial Advisors LLC now owns 2,186 shares of the information services provider’s stock valued at $363,000 after acquiring an additional 201 shares during the period. Impax Asset Management Group plc grew its position in Alphabet by 6.8% during the 3rd quarter. Impax Asset Management Group plc now owns 728,575 shares of the information services provider’s stock worth $120,834,000 after purchasing an additional 46,677 shares during the period. David J Yvars Group boosted its stake in shares of Alphabet by 16.3% during the 3rd quarter. David J Yvars Group now owns 4,290 shares of the information services provider’s stock worth $712,000 after acquiring an additional 600 shares in the last quarter. WoodTrust Financial Corp boosted its stake in shares of Alphabet by 1.0% during the 3rd quarter. WoodTrust Financial Corp now owns 66,226 shares of the information services provider’s stock worth $10,984,000 after acquiring an additional 682 shares in the last quarter. Finally, BNC Wealth Management LLC boosted its stake in shares of Alphabet by 3.5% during the 3rd quarter. BNC Wealth Management LLC now owns 65,616 shares of the information services provider’s stock worth $10,882,000 after acquiring an additional 2,243 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $205.00 price target on shares of Alphabet in a research note on Wednesday. Wedbush raised their price target on shares of Alphabet from $210.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, January 6th. Wells Fargo & Company lifted their target price on shares of Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Piper Sandler dropped their target price on shares of Alphabet from $210.00 to $208.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Finally, 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 note on Friday, January 3rd. Ten research 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, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $210.59.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 16,820 shares of the firm’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the transaction, the insider now directly owns 43,981 shares in the company, valued at approximately $8,471,620.22. This trade represents a 27.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total value of $33,106.00. Following the transaction, the director now owns 7,813 shares in the company, valued at approximately $1,293,285.89. This trade represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 93,048 shares of company stock valued at $17,374,274. 11.55% of the stock is currently owned by company insiders.

Alphabet Stock Down 0.7 %

Shares of NASDAQ GOOGL opened at $162.80 on Friday. 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 $1.98 trillion, a price-to-earnings ratio of 20.22, a PEG ratio of 1.34 and a beta of 1.02. Alphabet Inc. has a 12 month low of $146.90 and a 12 month high of $207.05. The stock has a 50-day moving average price of $183.13 and a two-hundred day moving average price of $176.37.

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, 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%. As a group, analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

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

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.