Doheny Asset Management CA Sells 3,209 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Doheny Asset Management CA reduced its position in Alphabet Inc. (NASDAQ:GOOGL) by 13.9% in the 4th quarter, Holdings Channel.com reports. The fund owned 19,927 shares of the information services provider’s stock after selling 3,209 shares during the quarter. Alphabet comprises about 2.8% of Doheny Asset Management CA’s holdings, making the stock its 8th largest position. Doheny Asset Management CA’s holdings in Alphabet were worth $3,772,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Compass Planning Associates Inc purchased a new stake in Alphabet during the 4th quarter valued at approximately $30,000. LMR Partners LLP purchased a new stake in shares of Alphabet during the third quarter worth approximately $32,000. E Fund Management Hong Kong Co. Ltd. raised its stake in shares of 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 worth $37,000 after purchasing an additional 166 shares during the last quarter. Fiduciary Advisors Inc. purchased a new position in Alphabet in the 4th quarter valued at $39,000. Finally, PayPay Securities Corp increased its stake in Alphabet by 36.1% in the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after buying an additional 65 shares during the period. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Alphabet Stock Performance

Alphabet stock opened at $165.06 on Thursday. The stock has a fifty day moving average price of $181.11 and a 200 day moving average price of $176.78. Alphabet Inc. has a 52 week low of $147.22 and a 52 week high of $207.05. The firm has a market capitalization of $2.01 trillion, a P/E ratio of 20.50, a PEG ratio of 1.34 and a beta of 1.02. 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 posted its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating 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%. Equities research analysts anticipate 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 was paid on Monday, March 17th. Shareholders 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 dividend yield of 0.48%. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Insider Activity

In other Alphabet news, CAO Amie Thuener O’toole sold 1,368 shares of Alphabet stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total transaction of $262,040.40. Following the transaction, the chief accounting officer now directly owns 20,681 shares of the company’s stock, valued at $3,961,445.55. The trade was a 6.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John L. Hennessy sold 200 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total transaction of $33,106.00. Following the completion of the sale, the director now directly owns 7,813 shares of the company’s stock, valued at $1,293,285.89. The trade was a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 93,048 shares of company stock valued at $17,374,274 in the last ninety days. Company insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on GOOGL shares. KeyCorp reduced their target price on shares of Alphabet from $220.00 to $202.00 and set an “overweight” rating for the company in a research note on Tuesday, March 18th. Needham & Company LLC reaffirmed a “buy” rating and issued a $225.00 price objective on shares of Alphabet in a report on Wednesday, February 5th. Wedbush increased their target price on Alphabet from $210.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday, January 6th. Robert W. Baird restated an “outperform” rating and issued a $205.00 price target on shares of Alphabet in a research note on Tuesday, December 10th. Finally, JPMorgan Chase & Co. cut their price objective on Alphabet from $232.00 to $220.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price 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.