Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by PGGM Investments

PGGM Investments lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.9% during the 4th quarter, HoldingsChannel reports. The firm owned 793,264 shares of the information services provider’s stock after selling 15,669 shares during the quarter. Alphabet comprises 2.0% of PGGM Investments’ holdings, making the stock its 10th biggest position. PGGM Investments’ holdings in Alphabet were worth $150,165,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Schear Investment Advisers LLC grew its holdings in Alphabet by 17.0% in the 3rd quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock valued at $5,598,000 after buying an additional 4,905 shares during the last quarter. Permanent Capital Management LP acquired a new stake in shares of Alphabet in the fourth quarter worth $273,000. Landscape Capital Management L.L.C. increased its position in Alphabet by 27.9% during the third quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider’s stock worth $4,192,000 after acquiring an additional 5,516 shares during the period. Glass Wealth Management Co LLC raised its stake in Alphabet by 4.5% during the 4th quarter. Glass Wealth Management Co LLC now owns 37,054 shares of the information services provider’s stock valued at $7,014,000 after purchasing an additional 1,580 shares during the last quarter. Finally, Olistico Wealth LLC boosted its holdings in Alphabet by 9.1% in the 4th quarter. Olistico Wealth LLC now owns 8,981 shares of the information services provider’s stock valued at $1,700,000 after purchasing an additional 746 shares during the period. Institutional investors own 40.03% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 200 shares of the stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total value of $33,106.00. Following the sale, the director now directly owns 7,813 shares in the company, valued at approximately $1,293,285.89. This trade represents a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 1,374 shares of the business’s stock in a transaction 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 completion of the transaction, the chief accounting officer now directly owns 15,024 shares of the company’s stock, valued at $2,606,213.28. This trade represents a 8.38 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 93,048 shares of company stock worth $17,374,274. Insiders own 11.55% of the company’s stock.

Alphabet Stock Up 2.3 %

Shares of NASDAQ:GOOGL opened at $167.68 on Tuesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The stock has a market cap of $2.04 trillion, a price-to-earnings ratio of 20.83, a P/E/G ratio of 1.34 and a beta of 1.02. The company has a 50 day moving average of $182.10 and a 200-day moving average of $176.73. Alphabet Inc. has a one year low of $147.22 and a one year high of $207.05.

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%. On average, sell-side analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were issued a $0.20 dividend. The ex-dividend date was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.48%. Alphabet’s dividend payout ratio is presently 9.94%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on GOOGL. DZ Bank downgraded shares of Alphabet from a “buy” rating to a “hold” rating and set a $198.00 price objective on the stock. in a report on Thursday, February 6th. Citigroup cut their price target on Alphabet from $232.00 to $229.00 and set a “buy” rating for the company in a report on Wednesday, February 5th. The Goldman Sachs Group reissued a “buy” rating and set a $210.00 price objective on shares of Alphabet in a report on Thursday, December 12th. Roth Mkm restated a “buy” rating and issued a $220.00 target price on shares of Alphabet in a research note on Wednesday, March 19th. Finally, Wells Fargo & Company lifted their price target on shares of Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average price target of $210.59.

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.