Stevens Capital Management LP Sells 75,997 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Stevens Capital Management LP lowered its stake in Alphabet Inc. (NASDAQ:GOOGL) by 73.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,088 shares of the information services provider’s stock after selling 75,997 shares during the quarter. Alphabet comprises about 2.1% of Stevens Capital Management LP’s portfolio, making the stock its 3rd biggest holding. Stevens Capital Management LP’s holdings in Alphabet were worth $5,317,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GOOGL. Principal Financial Group Inc. lifted its holdings in shares of Alphabet by 3.1% in the third quarter. Principal Financial Group Inc. now owns 11,283,594 shares of the information services provider’s stock valued at $1,871,384,000 after buying an additional 337,031 shares during the period. BIP Wealth LLC raised its position in Alphabet by 5.1% in the third quarter. BIP Wealth LLC now owns 7,302 shares of the information services provider’s stock worth $1,211,000 after acquiring an additional 354 shares in the last quarter. Wrapmanager Inc. lifted its holdings in Alphabet by 17.1% in the 3rd quarter. Wrapmanager Inc. now owns 18,261 shares of the information services provider’s stock valued at $3,029,000 after acquiring an additional 2,670 shares during the last quarter. Fifth Third Wealth Advisors LLC boosted its position in shares of Alphabet by 23.8% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 163,970 shares of the information services provider’s stock valued at $27,194,000 after purchasing an additional 31,482 shares in the last quarter. Finally, Princeton Capital Management LLC grew its stake in shares of Alphabet by 2.5% in the 3rd quarter. Princeton Capital Management LLC now owns 96,294 shares of the information services provider’s stock worth $15,970,000 after purchasing an additional 2,358 shares during the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 673 shares of the firm’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total value of $104,537.09. Following the sale, the chief accounting officer now directly owns 15,303 shares in the company, valued at $2,377,014.99. This trade represents a 4.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $189.80, for a total transaction of $284,700.00. Following the transaction, the director now owns 21,824 shares in the company, valued at approximately $4,142,195.20. The trade was a 6.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 87,297 shares of company stock worth $15,936,270 over the last three months. 11.55% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts recently commented on GOOGL shares. Roth Mkm reissued a “buy” rating and set a $220.00 target price on shares of Alphabet in a research note on Wednesday, March 19th. Westpark Capital raised Alphabet to a “strong-buy” rating in a research note on Tuesday. Needham & Company LLC restated a “buy” rating and issued a $225.00 target price on shares of Alphabet in a report on Wednesday, February 5th. Citizens Jmp downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Finally, Morgan Stanley dropped their price target on Alphabet from $215.00 to $210.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and five have given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $209.49.

Alphabet Price Performance

NASDAQ GOOGL opened at $157.04 on Thursday. Alphabet Inc. has a 1 year low of $147.22 and a 1 year high of $207.05. The company has a fifty day simple moving average of $177.19 and a 200 day simple moving average of $176.95. 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 company has a market cap of $1.91 trillion, a P/E ratio of 19.51, a P/E/G ratio of 1.34 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results 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%. On average, sell-side analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.51%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s dividend payout ratio is currently 9.94%.

Alphabet 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.