Progressive Investment Management Corp Sells 1,691 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Progressive Investment Management Corp cut its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 7.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 22,435 shares of the information services provider’s stock after selling 1,691 shares during the quarter. Alphabet makes up about 1.1% of Progressive Investment Management Corp’s holdings, making the stock its 28th biggest position. Progressive Investment Management Corp’s holdings in Alphabet were worth $4,247,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Compass Planning Associates Inc bought a new stake in shares of Alphabet during the 4th quarter worth $30,000. E Fund Management Hong Kong Co. Ltd. grew its position in Alphabet by 518.8% during 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 buying an additional 166 shares during the period. Fiduciary Advisors Inc. purchased a new stake in Alphabet during the fourth quarter worth about $39,000. PayPay Securities Corp increased its holdings in Alphabet by 36.1% during 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 raised its position in 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 acquiring an additional 57 shares during the period. 40.03% of the stock is owned by institutional investors.

Alphabet Stock Performance

Alphabet stock opened at $145.60 on Monday. The firm has a fifty day simple moving average of $175.15 and a two-hundred day simple moving average of $176.93. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a twelve month low of $145.38 and a twelve month high of $207.05. The company has a market capitalization of $1.77 trillion, a PE ratio of 18.09, a P/E/G ratio of 1.34 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last issued its earnings results 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%. Research analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.55%. The ex-dividend date was Monday, March 10th. Alphabet’s payout ratio is 9.94%.

Insider Activity at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,340 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total value of $270,787.20. Following the completion of the transaction, the chief accounting officer now directly owns 17,848 shares in the company, valued at approximately $3,606,723.84. This represents a 6.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the completion of the sale, the chief executive officer now owns 2,717,696 shares of the company’s stock, valued at $430,917,877.76. This trade represents a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 119,797 shares of company stock worth $21,089,470 in the last three months. 11.55% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GOOGL. Rosenblatt Securities reissued a “neutral” rating and set a $205.00 target price on shares of Alphabet in a research report on Wednesday, March 19th. Westpark Capital raised Alphabet to a “strong-buy” rating in a research report on Tuesday, April 1st. Morgan Stanley dropped their price target on Alphabet from $215.00 to $210.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. DA Davidson lifted their price objective on Alphabet from $190.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a research note on Thursday, December 12th. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and an average price target of $209.13.

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.