Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Financial Management Network Inc.

Financial Management Network Inc. trimmed its stake in Alphabet Inc. (NASDAQ:GOOGL) by 0.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 17,740 shares of the information services provider’s stock after selling 100 shares during the quarter. Financial Management Network Inc.’s holdings in Alphabet were worth $3,402,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of GOOGL. Schear Investment Advisers LLC grew its holdings in shares of Alphabet by 17.0% during the third quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock valued at $5,598,000 after buying an additional 4,905 shares in the last quarter. Landscape Capital Management L.L.C. grew its holdings in shares of Alphabet by 27.9% during the third 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 buying an additional 5,516 shares in the last quarter. abrdn plc grew its holdings in shares of Alphabet by 10.7% during the third quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock valued at $1,037,196,000 after buying an additional 611,233 shares in the last quarter. 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 valued at $1,700,000 after buying an additional 746 shares in the last quarter. Finally, Centaurus Financial Inc. grew its holdings in shares of Alphabet by 22.9% during the third quarter. Centaurus Financial Inc. now owns 61,540 shares of the information services provider’s stock valued at $10,206,000 after buying an additional 11,481 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Trading Down 1.9 %

GOOGL stock opened at $167.01 on Tuesday. Alphabet Inc. has a 1-year low of $130.66 and a 1-year high of $207.05. The firm has a market cap of $2.04 trillion, a P/E ratio of 20.75, a P/E/G ratio of 1.34 and a beta of 0.99. The business’s 50 day moving average is $190.02 and its 200-day moving average is $176.35. 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 (NASDAQ:GOOGL) last released 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%. Equities analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be paid a $0.20 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.48%. Alphabet’s dividend payout ratio is currently 9.94%.

Analysts Set New Price Targets

GOOGL has been the topic of a number of research analyst reports. Citigroup lowered their price target on Alphabet from $232.00 to $229.00 and set a “buy” rating on the stock in a report on Wednesday, February 5th. Morgan Stanley reduced their price objective on Alphabet from $215.00 to $210.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Needham & Company LLC reissued a “buy” rating and set a $225.00 price objective on shares of Alphabet in a research report on Wednesday, February 5th. Robert W. Baird reissued an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a research report on Tuesday, December 10th. Finally, Wolfe Research boosted their price target on Alphabet from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Ten analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $210.62.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 1,340 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total transaction of $270,787.20. Following the sale, the chief accounting officer now owns 17,848 shares in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kavitark Ram Shriram sold 37,134 shares of Alphabet 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 transaction, the director now directly owns 282,832 shares of the company’s stock, valued at $52,329,576.64. This represents a 11.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 134,316 shares of company stock worth $25,062,887. Company insiders own 11.55% of the company’s stock.

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.