Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Copperwynd Financial LLC

Copperwynd Financial LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 2.8% during the fourth quarter, HoldingsChannel reports. The fund owned 8,389 shares of the information services provider’s stock after selling 238 shares during the period. Copperwynd Financial LLC’s holdings in Alphabet were worth $1,588,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Schear Investment Advisers LLC lifted its holdings in shares of Alphabet by 17.0% in the 3rd quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock worth $5,598,000 after acquiring an additional 4,905 shares during the last quarter. Permanent Capital Management LP purchased a new stake in Alphabet in the fourth quarter valued at approximately $273,000. Landscape Capital Management L.L.C. lifted its stake 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 purchasing an additional 5,516 shares in the last quarter. Glass Wealth Management Co LLC grew its stake in shares of Alphabet by 4.5% in the fourth quarter. Glass Wealth Management Co LLC now owns 37,054 shares of the information services provider’s stock valued at $7,014,000 after buying an additional 1,580 shares in the last quarter. Finally, Olistico Wealth LLC raised its holdings in shares of 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 buying an additional 746 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Bank of America reaffirmed a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research report on Monday, December 23rd. JMP Securities reaffirmed a “market perform” rating on shares of Alphabet in a research note on Wednesday, February 5th. DA Davidson raised their price target on shares of Alphabet from $190.00 to $200.00 and gave the company a “neutral” rating in a research report on Friday, January 24th. Morgan Stanley cut their price objective on Alphabet from $215.00 to $210.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $205.00 target price on shares of Alphabet in a report on Wednesday, March 19th. Ten analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $210.59.

Alphabet Stock Down 3.2 %

GOOGL stock opened at $165.06 on Thursday. Alphabet Inc. has a one year low of $147.22 and a one year high of $207.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The company has a fifty day moving average of $181.11 and a 200-day moving average of $176.78. The stock has a market capitalization of $2.01 trillion, a PE ratio of 20.50, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02.

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

Alphabet Announces Dividend

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

Insider Activity

In related news, insider Ruth Porat sold 17,690 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $183.48, for a total value of $3,245,761.20. Following the completion of the transaction, the insider now directly owns 1,449,286 shares of the company’s stock, valued at $265,914,995.28. This trade represents a 1.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John Kent Walker sold 16,820 shares of Alphabet stock in a transaction on 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 transaction, the insider now directly owns 43,981 shares of the company’s stock, valued at approximately $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 sold 93,048 shares of company stock worth $17,374,274 in the last 90 days. 11.55% of the stock is currently owned by corporate insiders.

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.