Ingalls & Snyder LLC Sells 3,834 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Ingalls & Snyder LLC decreased its stake in Alphabet Inc. (NASDAQ:GOOGL) by 1.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 313,718 shares of the information services provider’s stock after selling 3,834 shares during the quarter. Alphabet accounts for about 2.3% of Ingalls & Snyder LLC’s portfolio, making the stock its 8th largest position. Ingalls & Snyder LLC’s holdings in Alphabet were worth $59,387,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in GOOGL. Raab & Moskowitz Asset Management LLC raised its position in shares of Alphabet by 2.3% during the fourth quarter. Raab & Moskowitz Asset Management LLC now owns 40,429 shares of the information services provider’s stock worth $7,653,000 after purchasing an additional 910 shares during the period. McClarren Financial Advisors Inc. raised its position in shares of Alphabet by 30.2% during the fourth quarter. McClarren Financial Advisors Inc. now owns 3,554 shares of the information services provider’s stock worth $672,000 after purchasing an additional 825 shares during the period. Warren Street Wealth Advisors LLC raised its position in shares of Alphabet by 4.4% during the fourth quarter. Warren Street Wealth Advisors LLC now owns 9,757 shares of the information services provider’s stock worth $1,847,000 after purchasing an additional 412 shares during the period. Hidden Cove Wealth Management LLC acquired a new stake in shares of Alphabet during the fourth quarter worth about $405,000. Finally, Three Bridge Wealth Advisors LLC raised its position in shares of Alphabet by 0.7% during the fourth quarter. Three Bridge Wealth Advisors LLC now owns 15,159 shares of the information services provider’s stock worth $2,870,000 after purchasing an additional 104 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In other news, CAO Amie Thuener O’toole sold 1,340 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the completion of the sale, the chief accounting officer now owns 17,848 shares of the company’s stock, valued at approximately $3,606,723.84. This represents a 6.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Ruth Porat sold 17,690 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $183.48, for a total value 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. The trade was a 1.21 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 134,299 shares of company stock worth $25,055,751. 11.55% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GOOGL. KeyCorp lifted their target price on Alphabet from $215.00 to $225.00 and gave the company an “overweight” rating in a research report on Friday, January 10th. Needham & Company LLC reissued a “buy” rating and issued a $225.00 target price on shares of Alphabet in a research report on Wednesday, February 5th. DA Davidson lifted their target price on Alphabet from $190.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, January 24th. Seaport Res Ptn upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Finally, Phillip Securities upgraded Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $210.62.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $179.66 on Monday. The stock has a market capitalization of $2.19 trillion, a PE ratio of 22.32, a P/E/G ratio of 1.34 and a beta of 0.99. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The business has a fifty day moving average price of $192.46 and a two-hundred day moving average price of $175.93. Alphabet Inc. has a fifty-two week low of $130.66 and a fifty-two week high of $207.05.

Alphabet (NASDAQ:GOOGL) last announced 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 return on equity of 32.49% and a net margin of 28.60%. As a group, equities analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.45%. Alphabet’s dividend payout ratio (DPR) is currently 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.