Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by South Street Advisors LLC

South Street Advisors LLC lessened its stake in Alphabet Inc. (NASDAQ:GOOGL) by 1.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 125,301 shares of the information services provider’s stock after selling 2,427 shares during the quarter. Alphabet accounts for about 3.6% of South Street Advisors LLC’s holdings, making the stock its 7th biggest position. South Street Advisors LLC’s holdings in Alphabet were worth $23,719,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOGL. Proficio Capital Partners LLC lifted its holdings in shares of Alphabet by 20,990.0% during the 4th quarter. Proficio Capital Partners LLC now owns 6,186,748 shares of the information services provider’s stock valued at $1,171,151,000 after buying an additional 6,157,413 shares during the last quarter. Amundi raised its position in Alphabet by 18.7% during the fourth quarter. Amundi now owns 29,866,698 shares of the information services provider’s stock valued at $5,792,317,000 after acquiring an additional 4,694,621 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Alphabet by 7.7% in the third quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock valued at $10,559,240,000 after acquiring an additional 4,567,275 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Alphabet in the third quarter worth approximately $513,024,000. Finally, Geode Capital Management LLC increased its stake in shares of Alphabet by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock worth $22,154,651,000 after purchasing an additional 2,626,431 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of several analyst reports. DZ Bank lowered shares of Alphabet from a “buy” rating to a “hold” rating and set a $198.00 price objective for the company. in a research note on Thursday, February 6th. Wedbush boosted their price target on Alphabet from $210.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, January 6th. KeyCorp lowered their price objective on Alphabet from $220.00 to $202.00 and set an “overweight” rating on the stock in a report on Tuesday, March 18th. Morgan Stanley reduced their target price on Alphabet from $215.00 to $210.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Finally, Wells Fargo & Company increased their price target on Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. Ten 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 MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $210.59.

Insider Activity

In other Alphabet news, Director Kavitark Ram Shriram sold 29,066 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $184.89, for a total transaction of $5,374,012.74. Following the transaction, the director now owns 272,466 shares of the company’s stock, valued at approximately $50,376,238.74. This represents a 9.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Kent Walker sold 16,820 shares of Alphabet stock in a transaction on Monday, December 30th. The shares were sold at an average price of $192.62, for a total value of $3,239,868.40. Following the completion of the sale, the insider now directly owns 43,981 shares of the company’s stock, valued at $8,471,620.22. This trade represents a 27.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 104,812 shares of company stock worth $19,336,979. 11.55% of the stock is owned by corporate insiders.

Alphabet Stock Down 4.9 %

GOOGL opened at $154.33 on Friday. The firm has a market cap of $1.88 trillion, a price-to-earnings ratio of 19.17, a PEG ratio of 1.34 and a beta of 1.02. 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 firm’s 50-day simple moving average is $179.66 and its 200-day simple moving average is $176.92. Alphabet Inc. has a twelve month low of $147.22 and a twelve month high of $207.05.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping the consensus estimate 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 EPS for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date was Monday, March 10th. Alphabet’s dividend payout ratio is currently 9.94%.

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.