Proffitt & Goodson Inc. Lowers Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Proffitt & Goodson Inc. decreased its position in Alphabet Inc. (NASDAQ:GOOGL) by 3.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,085 shares of the information services provider’s stock after selling 463 shares during the period. Proffitt & Goodson Inc.’s holdings in Alphabet were worth $2,666,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of GOOGL. Proficio Capital Partners LLC boosted its holdings in shares of Alphabet by 20,990.0% in the fourth quarter. Proficio Capital Partners LLC now owns 6,186,748 shares of the information services provider’s stock valued at $1,171,151,000 after purchasing an additional 6,157,413 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Alphabet by 7.7% in the third quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock valued at $10,559,240,000 after purchasing an additional 4,567,275 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Alphabet in the third quarter valued at approximately $513,024,000. Geode Capital Management LLC lifted its holdings in Alphabet by 2.0% during the third quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock worth $22,154,651,000 after buying an additional 2,626,431 shares during the period. Finally, National Bank of Canada FI lifted its holdings in Alphabet by 26.9% during the third quarter. National Bank of Canada FI now owns 10,064,598 shares of the information services provider’s stock worth $1,669,300,000 after buying an additional 2,136,128 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Amie Thuener O’toole sold 2,834 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $197.55, for a total transaction of $559,856.70. Following the sale, the chief accounting officer now directly owns 20,681 shares in the company, valued at $4,085,531.55. This trade represents a 12.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 1,500 shares of the firm’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $189.80, for a total value of $284,700.00. Following the sale, the director now owns 21,824 shares in the company, valued at $4,142,195.20. This trade represents a 6.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 95,882 shares of company stock valued at $17,934,130. Company insiders own 11.55% of the company’s stock.

Alphabet Price Performance

Shares of GOOGL opened at $165.49 on Friday. The business’s 50-day moving average is $185.70 and its two-hundred day moving average is $176.38. The company has a market capitalization of $2.02 trillion, a P/E ratio of 20.56, a P/E/G ratio of 1.34 and a beta of 1.02. 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 $140.03 and a fifty-two week high of $207.05.

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

Alphabet Announces Dividend

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

Wall Street Analyst Weigh In

GOOGL has been the subject of a number of analyst reports. Morgan Stanley lowered their target price on Alphabet from $215.00 to $210.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. DZ Bank lowered Alphabet from a “buy” rating to a “hold” rating and set a $198.00 target price for the company. in a report on Thursday, February 6th. Wolfe Research upped their target price on Alphabet from $220.00 to $230.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Robert W. Baird restated an “outperform” rating and set a $205.00 target price on shares of Alphabet in a report on Tuesday, December 10th. Finally, Citigroup lowered their target price on Alphabet from $232.00 to $229.00 and set a “buy” rating for the company in a report on Wednesday, February 5th. Ten analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.