Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Worth Asset Management LLC

Worth Asset Management LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 9.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,388 shares of the information services provider’s stock after selling 138 shares during the quarter. Worth Asset Management LLC’s holdings in Alphabet were worth $263,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Denver PWM LLC grew its position in Alphabet by 25.4% in the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after acquiring an additional 57 shares during the period. First PREMIER Bank lifted its stake in shares of Alphabet by 3.8% in the 3rd quarter. First PREMIER Bank now owns 1,655 shares of the information services provider’s stock valued at $275,000 after purchasing an additional 61 shares during the last quarter. Cutler Investment Counsel LLC grew its holdings in shares of Alphabet by 1.7% during the 3rd quarter. Cutler Investment Counsel LLC now owns 3,663 shares of the information services provider’s stock worth $607,000 after purchasing an additional 61 shares during the period. MKT Advisors LLC increased its position in shares of Alphabet by 0.8% during the 3rd quarter. MKT Advisors LLC now owns 7,363 shares of the information services provider’s stock worth $1,221,000 after purchasing an additional 62 shares during the last quarter. Finally, Mendota Financial Group LLC raised its holdings in Alphabet by 19.0% in the 3rd quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock valued at $67,000 after buying an additional 64 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on GOOGL shares. China Renaissance upgraded Alphabet from a “hold” rating to a “buy” rating in a report on Thursday, October 31st. Robert W. Baird reissued an “outperform” rating and set a $205.00 price target on shares of Alphabet in a research report on Tuesday, December 10th. JPMorgan Chase & Co. lifted their price objective on shares of Alphabet from $212.00 to $232.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. Roth Mkm increased their target price on shares of Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Scotiabank upgraded shares of Alphabet to a “strong-buy” rating in a research note on Friday, October 11th. Nine investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $206.82.

Alphabet Trading Down 0.2 %

Shares of NASDAQ:GOOGL traded down $0.30 during trading on Wednesday, reaching $195.19. The stock had a trading volume of 13,908,421 shares, compared to its average volume of 21,703,090. Alphabet Inc. has a fifty-two week low of $130.66 and a fifty-two week high of $201.42. The business has a fifty day moving average price of $181.36 and a 200-day moving average price of $172.72. The stock has a market cap of $2.39 trillion, a P/E ratio of 25.89, a PEG ratio of 1.35 and a beta of 0.98. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The firm had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. During the same period in the prior year, the firm posted $1.55 earnings per share. As a group, analysts anticipate that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

Insiders Place Their Bets

In other Alphabet news, Director Kavitark Ram Shriram sold 37,134 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total value of $6,870,532.68. Following the transaction, the director now directly owns 282,832 shares of the company’s stock, valued at $52,329,576.64. This represents a 11.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director John L. Hennessy sold 1,500 shares of Alphabet stock in a transaction on Monday, October 14th. The stock was sold at an average price of $164.95, for a total transaction of $247,425.00. Following the completion of the sale, the director now owns 26,324 shares of the company’s stock, valued at approximately $4,342,143.80. This trade represents a 5.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 155,887 shares of company stock worth $27,996,356 over the last ninety days. 11.55% of the stock is owned by company insiders.

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.