Paces Ferry Wealth Advisors LLC Sells 257 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Paces Ferry Wealth Advisors LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 2.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,664 shares of the information services provider’s stock after selling 257 shares during the quarter. Alphabet makes up approximately 1.1% of Paces Ferry Wealth Advisors LLC’s holdings, making the stock its 25th largest holding. Paces Ferry Wealth Advisors LLC’s holdings in Alphabet were worth $2,208,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of GOOGL. Absolute Capital Management LLC boosted its stake 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. Permanent Capital Management LP bought a new stake in Alphabet during the 4th quarter valued at approximately $273,000. Landscape Capital Management L.L.C. grew its holdings in shares of Alphabet by 27.9% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider’s stock worth $4,192,000 after acquiring an additional 5,516 shares during the period. Glass Wealth Management Co LLC raised its position in shares of Alphabet by 4.5% in the 4th quarter. Glass Wealth Management Co LLC now owns 37,054 shares of the information services provider’s stock worth $7,014,000 after acquiring an additional 1,580 shares in the last quarter. Finally, Olistico Wealth LLC lifted its stake in shares of Alphabet by 9.1% in the 4th quarter. Olistico Wealth LLC now owns 8,981 shares of the information services provider’s stock valued at $1,700,000 after purchasing an additional 746 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on GOOGL shares. KeyCorp decreased their price objective on Alphabet from $220.00 to $202.00 and set an “overweight” rating for the company in a report on Tuesday, March 18th. Citigroup decreased their price target on shares of Alphabet from $232.00 to $229.00 and set a “buy” rating for the company in a research note on Wednesday, February 5th. DA Davidson boosted their price objective on shares of Alphabet from $190.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. Stifel Nicolaus raised their target price on shares of Alphabet from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Finally, Jefferies Financial Group lowered their target price on shares of Alphabet from $235.00 to $200.00 and set a “buy” rating for the company in a report on Monday. Ten investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $209.49.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 2,834 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $194.32, for a total value of $550,702.88. Following the completion of the transaction, the chief accounting officer now directly owns 17,847 shares in the company, valued at $3,468,029.04. This represents a 13.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ruth Porat sold 17,690 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the completion of the sale, the insider now directly owns 1,449,286 shares of the company’s stock, valued at approximately $265,914,995.28. This trade represents a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 87,297 shares of company stock worth $15,936,270. 11.55% of the stock is owned by company insiders.

Alphabet Stock Performance

Shares of NASDAQ GOOGL opened at $157.04 on Thursday. Alphabet Inc. has a 12-month low of $147.22 and a 12-month high of $207.05. The firm has a market capitalization of $1.91 trillion, a price-to-earnings ratio of 19.51, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. 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 firm has a 50 day moving average of $177.19 and a 200 day moving average of $176.95.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS 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%. On average, research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.51%. Alphabet’s payout ratio is currently 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.