Jupiter Asset Management Ltd. Sells 323,226 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Jupiter Asset Management Ltd. decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 27.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 862,427 shares of the information services provider’s stock after selling 323,226 shares during the quarter. Alphabet comprises about 1.6% of Jupiter Asset Management Ltd.’s investment portfolio, making the stock its 5th largest holding. Jupiter Asset Management Ltd.’s holdings in Alphabet were worth $163,257,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in GOOGL. Compass Planning Associates Inc acquired a new stake in Alphabet in the fourth quarter worth about $30,000. LMR Partners LLP acquired a new stake in shares of Alphabet in the 3rd quarter worth approximately $32,000. E Fund Management Hong Kong Co. Ltd. boosted its holdings in shares of Alphabet by 518.8% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock valued at $37,000 after acquiring an additional 166 shares in the last quarter. Fiduciary Advisors Inc. acquired a new stake in shares of Alphabet in the fourth quarter valued at $39,000. Finally, PayPay Securities Corp grew its holdings in Alphabet by 36.1% during the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after acquiring an additional 65 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 1,340 shares of Alphabet stock in a transaction dated Monday, February 3rd. The stock was 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 approximately $3,606,723.84. The trade was a 6.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $33,106.00. Following the transaction, the director now directly owns 7,813 shares of the company’s stock, valued at $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 worth $17,374,274. Corporate insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the subject of several analyst reports. KeyCorp reduced their target price on Alphabet from $220.00 to $202.00 and set an “overweight” rating for the company in a report on Tuesday, March 18th. The Goldman Sachs Group restated a “buy” rating and set a $210.00 price objective on shares of Alphabet in a research report on Thursday, December 12th. Citizens Jmp cut Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Robert W. Baird reaffirmed an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a research report on Tuesday, December 10th. Finally, JMP Securities restated a “market perform” rating on shares of Alphabet in a report on Wednesday, February 5th. 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 company’s stock. According to data from MarketBeat, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $210.59.

Alphabet Trading Up 2.3 %

Shares of GOOGL opened at $167.68 on Tuesday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $2.04 trillion, a PE ratio of 20.83, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02. The stock’s fifty day simple moving average is $182.10 and its 200-day simple moving average is $176.73. Alphabet Inc. has a 12-month low of $147.22 and a 12-month high of $207.05.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (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%. As a group, research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

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 0.48%. The ex-dividend date was Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is presently 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.