Private Wealth Partners LLC Cuts Position in Alphabet Inc. (NASDAQ:GOOGL)

Private Wealth Partners LLC decreased its position in Alphabet Inc. (NASDAQ:GOOGL) by 0.6% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 354,301 shares of the information services provider’s stock after selling 2,277 shares during the period. Alphabet comprises 5.1% of Private Wealth Partners LLC’s portfolio, making the stock its 4th biggest position. Private Wealth Partners LLC’s holdings in Alphabet were worth $67,069,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of GOOGL. State Street Corp grew its holdings in Alphabet by 0.3% in the 3rd quarter. State Street Corp now owns 222,555,548 shares of the information services provider’s stock valued at $36,910,838,000 after buying an additional 743,369 shares in the last quarter. Geode Capital Management LLC grew its holdings in Alphabet by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock valued at $22,154,651,000 after buying an additional 2,626,431 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Alphabet by 7.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock valued at $10,559,240,000 after buying an additional 4,567,275 shares in the last quarter. Fisher Asset Management LLC grew its holdings in Alphabet by 2.5% in the 3rd quarter. Fisher Asset Management LLC now owns 49,857,900 shares of the information services provider’s stock valued at $8,268,933,000 after buying an additional 1,237,385 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Alphabet by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 37,233,079 shares of the information services provider’s stock valued at $6,175,106,000 after buying an additional 523,416 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Stock Performance

Alphabet stock opened at $167.01 on Tuesday. The company has a 50 day moving average price of $190.02 and a 200-day moving average price of $176.35. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. Alphabet Inc. has a fifty-two week low of $130.66 and a fifty-two week high of $207.05. The company has a market capitalization of $2.04 trillion, a PE ratio of 20.75, a P/E/G ratio of 1.34 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, topping analysts’ consensus estimates 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 forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

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

Insider Activity at Alphabet

In related news, CAO Amie Thuener O’toole sold 1,340 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the transaction, the chief accounting officer now directly owns 17,848 shares of the company’s stock, valued at $3,606,723.84. This represents a 6.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John Kent Walker sold 16,820 shares of the stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $192.62, for a total value of $3,239,868.40. Following the sale, the insider now directly owns 43,981 shares in the company, valued at $8,471,620.22. This represents a 27.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 134,316 shares of company stock valued at $25,062,887 in the last ninety days. Company insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

GOOGL has been the topic of a number of research reports. Wolfe Research upped their price objective on Alphabet from $220.00 to $230.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Wells Fargo & Company increased their target price on Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. Bank of America reissued a “buy” rating and set a $210.00 target price on shares of Alphabet in a report on Monday, December 23rd. Citizens Jmp lowered Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Finally, Morgan Stanley reduced their target price on Alphabet from $215.00 to $210.00 and set an “overweight” rating on the stock in a report on Wednesday, February 5th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $210.62.

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.