Gallacher Capital Management LLC Sells 186 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Gallacher Capital Management LLC reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 3,426 shares of the information services provider’s stock after selling 186 shares during the period. Gallacher Capital Management LLC’s holdings in Alphabet were worth $649,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Compass Planning Associates Inc acquired a new position in Alphabet during the fourth quarter valued at approximately $30,000. LMR Partners LLP bought a new stake in shares of Alphabet during the 3rd quarter worth approximately $32,000. E Fund Management Hong Kong Co. Ltd. boosted its holdings in shares of Alphabet by 518.8% in the 4th 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 last quarter. Fiduciary Advisors Inc. bought a new position in shares of Alphabet in the fourth quarter valued at $39,000. Finally, 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. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider John Kent Walker sold 11,764 shares of the firm’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the completion of the transaction, the insider now owns 49,037 shares of the company’s stock, valued at approximately $8,181,333.08. This trade represents a 19.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Amie Thuener O’toole sold 1,368 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $191.55, for a total transaction of $262,040.40. Following the completion of the sale, the chief accounting officer now directly owns 20,681 shares in the company, valued at approximately $3,961,445.55. This represents a 6.20 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 104,812 shares of company stock valued at $19,336,979. 11.55% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have commented on the stock. JPMorgan Chase & Co. cut 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. Robert W. Baird reiterated an “outperform” rating and issued a $205.00 target price on shares of Alphabet in a research note on Tuesday, December 10th. Rosenblatt Securities reissued a “neutral” rating and set a $205.00 price target on shares of Alphabet in a research report on Wednesday, March 19th. Stifel Nicolaus raised their price objective on Alphabet from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Finally, DA Davidson boosted their target price on Alphabet from $190.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. Ten equities research 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’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $210.59.

Alphabet Trading Down 1.7 %

GOOGL opened at $162.24 on Friday. The company has a market cap of $1.98 trillion, a P/E ratio of 20.15, 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. The company’s 50 day moving average is $180.49 and its 200-day moving average is $176.68. Alphabet Inc. has a 1-year low of $147.22 and a 1-year high of $207.05.

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 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 predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.49%. Alphabet’s dividend payout ratio is presently 9.94%.

Alphabet 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.