MidAtlantic Capital Management Inc. Has $69,000 Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

MidAtlantic Capital Management Inc. lessened its position in Alphabet Inc. (NASDAQ:GOOGL) by 22.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 362 shares of the information services provider’s stock after selling 103 shares during the period. MidAtlantic Capital Management Inc.’s holdings in Alphabet were worth $69,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in GOOGL. LMR Partners LLP bought a new position in shares of Alphabet in the third quarter valued at approximately $32,000. E Fund Management Hong Kong Co. Ltd. lifted its holdings in shares of Alphabet by 518.8% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock valued at $37,000 after purchasing an additional 166 shares in the last quarter. Fiduciary Advisors Inc. bought a new position in shares of Alphabet in the fourth quarter valued at approximately $39,000. PayPay Securities Corp lifted its holdings in shares of Alphabet by 36.1% in the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after purchasing an additional 65 shares in the last quarter. Finally, Denver PWM LLC lifted its holdings in shares of Alphabet by 25.4% in the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock valued at $47,000 after purchasing an additional 57 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $170.41, for a total transaction of $232,950.47. Following the completion of the sale, the chief accounting officer now 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kavitark Ram Shriram sold 37,134 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total value of $6,870,532.68. Following the completion of the sale, the director now directly owns 282,832 shares of the company’s stock, valued at approximately $52,329,576.64. This trade represents a 11.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 134,299 shares of company stock valued at $25,055,751 over the last 90 days. Insiders own 11.55% of the company’s stock.

Alphabet Trading Down 0.2 %

Shares of GOOGL stock opened at $179.25 on Tuesday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The business has a 50-day moving average price of $192.12 and a two-hundred day moving average price of $176.05. Alphabet Inc. has a 12-month low of $130.66 and a 12-month high of $207.05. The firm has a market cap of $2.19 trillion, a P/E ratio of 22.27, a price-to-earnings-growth ratio of 1.34 and a beta of 0.99.

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

Alphabet Dividend Announcement

The company also recently declared 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 dividend payout ratio (DPR) is currently 9.94%.

Analyst Ratings Changes

A number of research firms have recently weighed in on GOOGL. Roth Mkm raised their target price on Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Robert W. Baird restated an “outperform” rating and issued a $205.00 target price on shares of Alphabet in a report on Tuesday, December 10th. Truist Financial raised their target price on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. BMO Capital Markets reiterated an “outperform” rating and set a $217.00 price target (up from $215.00) on shares of Alphabet in a report on Wednesday, October 30th. Finally, DA Davidson lifted their price target on Alphabet from $190.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $210.62.

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.