Lee Danner & Bass Inc. Reduces Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Lee Danner & Bass Inc. cut its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 25.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,040 shares of the information services provider’s stock after selling 6,303 shares during the period. Lee Danner & Bass Inc.’s holdings in Alphabet were worth $3,415,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Truepoint Inc. increased its position in shares of Alphabet by 1.7% during the fourth quarter. Truepoint Inc. now owns 6,730 shares of the information services provider’s stock valued at $1,274,000 after buying an additional 115 shares during the period. Independent Solutions Wealth Management LLC grew its stake in Alphabet by 5.0% during the fourth quarter. Independent Solutions Wealth Management LLC now owns 13,545 shares of the information services provider’s stock valued at $2,564,000 after acquiring an additional 650 shares in the last quarter. Antonelli Financial Advisors LLC bought a new stake in Alphabet during the 4th quarter worth approximately $535,000. Whittier Trust Co. of Nevada Inc. boosted its holdings in Alphabet by 2.4% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 167,678 shares of the information services provider’s stock valued at $31,741,000 after purchasing an additional 3,872 shares during the period. Finally, Absolute Capital Management LLC grew its position in shares of Alphabet by 14.0% during the 4th quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider’s stock valued at $401,000 after purchasing an additional 258 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Up 0.2 %

Shares of Alphabet stock opened at $154.64 on Tuesday. Alphabet Inc. has a 52-week low of $147.22 and a 52-week high of $207.05. The stock has a market capitalization of $1.89 trillion, a PE ratio of 19.21, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02. The company has a 50-day simple moving average of $178.83 and a two-hundred day simple moving average of $177.10. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84.

Alphabet (NASDAQ:GOOGL) last released 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%. On average, analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.52%. The ex-dividend date was Monday, March 10th. Alphabet’s payout ratio is currently 9.94%.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 1,340 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the transaction, the chief accounting officer now directly owns 17,848 shares of the company’s stock, valued at approximately $3,606,723.84. This trade represents a 6.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John Kent Walker sold 17,690 shares of Alphabet stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $185.51, for a total value of $3,281,671.90. Following the transaction, the insider now owns 43,111 shares in the company, valued at $7,997,521.61. This trade represents a 29.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 87,992 shares of company stock valued at $16,093,773. 11.55% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on GOOGL. Roth Mkm reiterated a “buy” rating and issued a $220.00 price objective on shares of Alphabet in a research report on Wednesday, March 19th. DZ Bank lowered Alphabet from a “buy” rating to a “hold” rating and set a $198.00 price objective for the company. in a report on Thursday, February 6th. DA Davidson raised their target price on shares of Alphabet from $190.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. Needham & Company LLC reissued a “buy” rating and issued a $225.00 price target on shares of Alphabet in a research note on Wednesday, February 5th. Finally, Wells Fargo & Company dropped their price objective on shares of Alphabet from $184.00 to $167.00 and set an “equal weight” rating for the company in a report on Monday. Ten investment 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. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $209.49.

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.