Cottage Street Advisors LLC Sells 229 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Cottage Street Advisors LLC trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 18,447 shares of the information services provider’s stock after selling 229 shares during the quarter. Alphabet accounts for about 1.8% of Cottage Street Advisors LLC’s holdings, making the stock its 18th largest position. Cottage Street Advisors LLC’s holdings in Alphabet were worth $3,492,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Community Bank N.A. increased its holdings in shares of Alphabet by 6.4% in the fourth quarter. Community Bank N.A. now owns 46,173 shares of the information services provider’s stock worth $8,741,000 after purchasing an additional 2,790 shares during the period. Absolute Capital Management LLC increased its stake in Alphabet by 14.0% in the 4th quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider’s stock worth $401,000 after acquiring an additional 258 shares during the last quarter. Permanent Capital Management LP purchased a new stake in shares of Alphabet in the 4th quarter valued at about $273,000. Glass Wealth Management Co LLC boosted its position in shares of Alphabet by 4.5% during the 4th quarter. Glass Wealth Management Co LLC now owns 37,054 shares of the information services provider’s stock valued at $7,014,000 after acquiring an additional 1,580 shares during the last quarter. Finally, Olistico Wealth LLC grew its holdings in shares of Alphabet by 9.1% during the fourth quarter. Olistico Wealth LLC now owns 8,981 shares of the information services provider’s stock worth $1,700,000 after purchasing an additional 746 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Down 3.4 %

Shares of GOOGL stock opened at $145.60 on Friday. 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 Inc. has a 12 month low of $145.38 and a 12 month high of $207.05. The stock has a market cap of $1.77 trillion, a P/E ratio of 18.09, a P/E/G ratio of 1.34 and a beta of 1.03. The company has a 50 day simple moving average of $175.15 and a two-hundred day simple moving average of $176.81.

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 expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were issued a $0.20 dividend. The ex-dividend date was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.55%. Alphabet’s dividend payout ratio is currently 9.94%.

Analyst Ratings Changes

Several brokerages have issued reports on GOOGL. Cantor Fitzgerald reiterated a “neutral” rating and set a $200.00 target price on shares of Alphabet in a research report on Wednesday, March 19th. Wolfe Research lifted their price objective on shares of Alphabet from $220.00 to $230.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Morgan Stanley reduced their target price on Alphabet from $215.00 to $210.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. UBS Group set a $190.00 price target on Alphabet in a research note on Thursday, March 27th. Finally, Stifel Nicolaus increased their price objective on Alphabet from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, January 13th. 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’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $209.13.

Insider Activity at Alphabet

In other news, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $4,142,195.20. This represents a 6.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 1,340 shares of the firm’s stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 17,848 shares of the company’s stock, valued at $3,606,723.84. This represents a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 119,797 shares of company stock valued at $21,089,470. Insiders own 11.55% of the company’s stock.

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.