Core Alternative Capital Cuts Stake in Alphabet Inc. (NASDAQ:GOOGL)

Core Alternative Capital trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 14.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 41,285 shares of the information services provider’s stock after selling 6,857 shares during the quarter. Alphabet comprises about 1.6% of Core Alternative Capital’s holdings, making the stock its 18th biggest holding. Core Alternative Capital’s holdings in Alphabet were worth $7,815,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Schear Investment Advisers LLC lifted its stake in Alphabet by 17.0% during the 3rd quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock valued at $5,598,000 after acquiring an additional 4,905 shares during the period. Landscape Capital Management L.L.C. lifted its stake in 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 valued at $4,192,000 after acquiring an additional 5,516 shares during the period. abrdn plc lifted its stake in Alphabet by 10.7% during the 3rd quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock valued at $1,037,196,000 after acquiring an additional 611,233 shares during the period. Olistico Wealth LLC lifted its stake in Alphabet by 9.1% during the 4th quarter. Olistico Wealth LLC now owns 8,981 shares of the information services provider’s stock valued at $1,700,000 after acquiring an additional 746 shares during the period. Finally, Centaurus Financial Inc. lifted its stake in Alphabet by 22.9% during the 3rd quarter. Centaurus Financial Inc. now owns 61,540 shares of the information services provider’s stock valued at $10,206,000 after acquiring an additional 11,481 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Alphabet news, insider John Kent Walker sold 16,820 shares of Alphabet stock in a transaction on Monday, December 30th. The shares were sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the completion of the transaction, the insider now directly owns 43,981 shares of the company’s stock, valued at $8,471,620.22. The trade was a 27.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total transaction of $232,950.47. Following the transaction, the chief accounting officer now directly owns 23,515 shares of the company’s stock, valued at $4,007,191.15. The trade was a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 134,299 shares of company stock valued at $25,055,751 over the last three months. 11.55% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Citizens Jmp cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Loop Capital increased their price objective on shares of Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. Bank of America reiterated a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a research note on Monday, December 23rd. Piper Sandler lowered their price objective on shares of Alphabet from $210.00 to $208.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $205.00 price objective on shares of Alphabet in a research note on Tuesday, December 10th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $210.62.

Alphabet Trading Down 2.7 %

GOOGL stock opened at $179.66 on Friday. The firm has a fifty day moving average price of $192.46 and a 200 day moving average price of $175.69. Alphabet Inc. has a fifty-two week low of $130.66 and a fifty-two week high of $207.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The firm has a market cap of $2.19 trillion, a PE ratio of 22.32, a price-to-earnings-growth ratio of 1.35 and a beta of 0.99.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share 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%. Sell-side analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.45%. The ex-dividend date is Monday, March 10th. Alphabet’s payout ratio is 9.94%.

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.