Trivest Advisors Ltd Trims Stake in Alphabet Inc. (NASDAQ:GOOGL)

Trivest Advisors Ltd cut its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 89.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 77,000 shares of the information services provider’s stock after selling 653,000 shares during the quarter. Trivest Advisors Ltd’s holdings in Alphabet were worth $14,576,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Proficio Capital Partners LLC lifted its position in Alphabet by 20,990.0% in the 4th quarter. Proficio Capital Partners LLC now owns 6,186,748 shares of the information services provider’s stock valued at $1,171,151,000 after acquiring an additional 6,157,413 shares in the last quarter. Amundi increased its holdings in Alphabet by 18.7% during the fourth quarter. Amundi now owns 29,866,698 shares of the information services provider’s stock valued at $5,792,317,000 after buying an additional 4,694,621 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Alphabet by 7.7% during the third quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock valued at $10,559,240,000 after purchasing an additional 4,567,275 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Alphabet during the 3rd quarter worth approximately $513,024,000. Finally, Geode Capital Management LLC lifted its stake in shares of Alphabet by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock valued at $22,154,651,000 after buying an additional 2,626,431 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Trading Down 4.9 %

Alphabet stock opened at $154.33 on Monday. The firm has a market cap of $1.88 trillion, a PE ratio of 19.17, a P/E/G ratio of 1.34 and a beta of 1.02. Alphabet Inc. has a 12 month low of $147.22 and a 12 month high of $207.05. The stock’s 50 day simple moving average is $179.66 and its two-hundred day simple moving average is $177.10. 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 earnings per share (EPS) for the quarter, topping 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%. Analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders 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 dividend yield of 0.52%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. lowered their target price on shares of Alphabet from $232.00 to $220.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Rosenblatt Securities restated a “neutral” rating and issued a $205.00 target price on shares of Alphabet in a report on Wednesday, March 19th. Wells Fargo & Company lifted their target price on Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. KeyCorp decreased their target price on Alphabet from $220.00 to $202.00 and set an “overweight” rating for the company in a research report on Tuesday, March 18th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $210.00 price objective on shares of Alphabet in a report on Thursday, December 12th. 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. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus price target of $210.59.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,368 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $191.55, for a total transaction of $262,040.40. Following the transaction, the chief accounting officer now owns 20,681 shares in the company, valued at approximately $3,961,445.55. This represents a 6.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John L. Hennessy sold 200 shares of the business’s 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 completion of the sale, the director now 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. Insiders sold a total of 87,992 shares of company stock worth $16,097,111 in the last 90 days. Corporate insiders own 11.55% of the company’s stock.

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.