Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC lowered its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 7.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 228,816 shares of the information services provider’s stock after selling 18,100 shares during the quarter. Alphabet comprises about 3.1% of Frank Rimerman Advisors LLC’s investment portfolio, making the stock its 9th largest position. Frank Rimerman Advisors LLC’s holdings in Alphabet were worth $43,315,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Compass Planning Associates Inc bought a new stake in shares of Alphabet during the fourth quarter worth $30,000. LMR Partners LLP bought a new position in shares of Alphabet in the 3rd quarter valued at about $32,000. E Fund Management Hong Kong Co. Ltd. grew its position in shares of Alphabet by 518.8% during 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. bought a new stake in shares of Alphabet during the fourth quarter worth approximately $39,000. Finally, PayPay Securities Corp lifted its holdings in Alphabet by 36.1% in the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after buying an additional 65 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In other Alphabet news, Director John L. Hennessy sold 200 shares of the 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 transaction, the director now owns 7,813 shares in the company, valued at $1,293,285.89. This trade represents a 2.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 29,066 shares of Alphabet stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $184.89, for a total value of $5,374,012.74. Following the sale, the director now directly owns 272,466 shares of the company’s stock, valued at $50,376,238.74. This represents a 9.64 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 93,048 shares of company stock worth $17,374,274. Company insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

GOOGL has been the subject of several recent research reports. Robert W. Baird reiterated an “outperform” rating and set a $205.00 target price on shares of Alphabet in a research report on Tuesday, December 10th. DA Davidson raised their target price on Alphabet from $190.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $210.00 price target on shares of Alphabet in a research note on Thursday, December 12th. Stifel Nicolaus lifted their price objective on shares of Alphabet from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Finally, Bank of America reaffirmed a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research note on Monday, December 23rd. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $210.59.

Alphabet Stock Down 3.2 %

GOOGL opened at $165.06 on Thursday. 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 stock’s fifty day simple moving average is $181.11 and its 200 day simple moving average is $176.78. Alphabet Inc. has a 1-year low of $147.22 and a 1-year high of $207.05. The stock has a market cap of $2.01 trillion, a PE ratio of 20.50, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data 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%. As a group, research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s payout ratio is 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.