Bigelow Investment Advisors LLC Reduces Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Bigelow Investment Advisors LLC lowered its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 6.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,557 shares of the information services provider’s stock after selling 1,024 shares during the period. Alphabet makes up about 1.3% of Bigelow Investment Advisors LLC’s investment portfolio, making the stock its 13th largest position. Bigelow Investment Advisors LLC’s holdings in Alphabet were worth $2,756,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in GOOGL. LMR Partners LLP bought a new stake in shares of Alphabet in the third quarter worth $32,000. E Fund Management Hong Kong Co. Ltd. increased its stake 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 worth $37,000 after buying an additional 166 shares during the last quarter. Fiduciary Advisors Inc. bought a new stake in shares of Alphabet in the fourth quarter worth $39,000. PayPay Securities Corp increased its stake 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 worth $46,000 after buying an additional 65 shares during the last quarter. Finally, Denver PWM LLC increased its stake 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 worth $47,000 after buying an additional 57 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the subject of several recent research reports. DA Davidson boosted their target price on shares of Alphabet from $190.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. Cantor Fitzgerald lowered their target price on shares of Alphabet from $215.00 to $210.00 and set a “neutral” rating for the company in a research note on Wednesday, January 22nd. Wells Fargo & Company boosted their target price on shares of Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. Piper Sandler lowered their target price on shares of Alphabet from $210.00 to $208.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Finally, Citigroup lowered their target price on shares of Alphabet from $232.00 to $229.00 and set a “buy” rating for the company in a research note on Wednesday, February 5th. 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $210.62.

Insider Buying and Selling at Alphabet

In other Alphabet news, insider John Kent Walker sold 16,820 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the sale, the insider now owns 43,981 shares in the company, valued at approximately $8,471,620.22. The trade was a 27.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,834 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $197.55, for a total value of $559,856.70. Following the sale, the chief accounting officer now owns 20,681 shares in the company, valued at approximately $4,085,531.55. The trade was a 12.05 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 134,316 shares of company stock valued at $25,062,887. 11.55% of the stock is owned by insiders.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $167.01 on Tuesday. Alphabet Inc. has a twelve month low of $130.66 and a twelve month high of $207.05. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $2.04 trillion, a price-to-earnings ratio of 20.75, a PEG ratio of 1.34 and a beta of 0.99. The firm has a 50-day moving average of $190.02 and a two-hundred day moving average of $176.35.

Alphabet (NASDAQ:GOOGL) last issued its quarterly 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%. As a group, analysts expect 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. Shareholders of record on Monday, March 10th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s payout ratio is 9.94%.

Alphabet Company 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.