Hudson Edge Investment Partners Inc. Cuts Stake in Alphabet Inc. (NASDAQ:GOOGL)

Hudson Edge Investment Partners Inc. reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,373 shares of the information services provider’s stock after selling 149 shares during the quarter. Hudson Edge Investment Partners Inc.’s holdings in Alphabet were worth $1,206,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOGL. Heritage Oak Wealth Advisors LLC raised its holdings in Alphabet by 155.2% during the 3rd quarter. Heritage Oak Wealth Advisors LLC now owns 6,248 shares of the information services provider’s stock valued at $1,036,000 after buying an additional 3,800 shares during the last quarter. Tandem Capital Management Corp ADV raised its holdings in Alphabet by 1.0% in the 3rd quarter. Tandem Capital Management Corp ADV now owns 42,080 shares of the information services provider’s stock worth $6,351,000 after purchasing an additional 403 shares in the last quarter. Court Place Advisors LLC raised its holdings in Alphabet by 0.5% in the 3rd quarter. Court Place Advisors LLC now owns 19,587 shares of the information services provider’s stock worth $3,248,000 after purchasing an additional 91 shares in the last quarter. Hudock Inc. raised its holdings in Alphabet by 3.5% in the 3rd quarter. Hudock Inc. now owns 4,774 shares of the information services provider’s stock worth $792,000 after purchasing an additional 163 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL raised its holdings in Alphabet by 3.8% in the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 4,091 shares of the information services provider’s stock worth $679,000 after purchasing an additional 149 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on GOOGL. Wedbush upped their price objective on shares of Alphabet from $210.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, January 6th. Bank of America restated a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a report on Monday, December 23rd. Stifel Nicolaus upped their price objective on shares of Alphabet from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, January 13th. JPMorgan Chase & Co. decreased their price target on shares of Alphabet from $232.00 to $220.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Finally, Piper Sandler decreased their price target 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. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet currently has a consensus rating of “Moderate Buy” and an average target price of $210.62.

Alphabet Price Performance

NASDAQ GOOGL opened at $172.35 on Friday. Alphabet Inc. has a 12 month low of $131.61 and a 12 month high of $207.05. The stock has a market cap of $2.10 trillion, a price-to-earnings ratio of 21.41, a PEG ratio of 1.34 and a beta of 0.99. The company’s 50 day moving average is $188.59 and its two-hundred 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 earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping 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, research analysts anticipate 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. Shareholders of record on Monday, March 10th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date is Monday, March 10th. Alphabet’s payout ratio is 9.94%.

Insiders Place Their Bets

In other news, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $194.22, for a total transaction of $291,330.00. Following the sale, the director now owns 23,324 shares in the company, valued at $4,529,987.28. This trade represents a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 1,374 shares of Alphabet stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $173.47, for a total transaction of $238,347.78. Following the sale, the chief accounting officer now owns 15,024 shares in the company, valued at approximately $2,606,213.28. The trade was a 8.38 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 134,316 shares of company stock worth $25,062,887. Company insiders own 11.55% of the company’s stock.

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.