Gabelli Funds LLC Sells 2,835 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Gabelli Funds LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 440,221 shares of the information services provider’s stock after selling 2,835 shares during the quarter. Gabelli Funds LLC’s holdings in Alphabet were worth $83,334,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in GOOGL. Principal Financial Group Inc. increased its stake in shares of Alphabet by 3.1% in the third quarter. Principal Financial Group Inc. now owns 11,283,594 shares of the information services provider’s stock valued at $1,871,384,000 after buying an additional 337,031 shares during the period. Passumpsic Savings Bank raised its stake in shares of Alphabet by 38.0% during the third quarter. Passumpsic Savings Bank now owns 4,700 shares of the information services provider’s stock valued at $779,000 after acquiring an additional 1,294 shares during the last quarter. SOA Wealth Advisors LLC. grew its stake in shares of Alphabet by 0.5% in the third quarter. SOA Wealth Advisors LLC. now owns 37,379 shares of the information services provider’s stock worth $6,199,000 after purchasing an additional 202 shares during the last quarter. SkyView Investment Advisors LLC grew its stake in shares of Alphabet by 6.0% in the third quarter. SkyView Investment Advisors LLC now owns 2,306 shares of the information services provider’s stock worth $382,000 after purchasing an additional 130 shares during the last quarter. Finally, Te Ahumairangi Investment Management Ltd increased its holdings in Alphabet by 19.2% in the third quarter. Te Ahumairangi Investment Management Ltd now owns 137,669 shares of the information services provider’s stock valued at $22,703,000 after purchasing an additional 22,169 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Down 1.5 %

GOOGL stock opened at $151.08 on Friday. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. The stock has a fifty day moving average of $165.14 and a 200-day moving average of $175.77. The company has a market capitalization of $1.84 trillion, a price-to-earnings ratio of 18.77, a PEG ratio of 1.34 and a beta of 1.03. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating 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%. As a group, equities research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.53%. The ex-dividend date was Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on GOOGL shares. JMP Securities reiterated a “market perform” rating on shares of Alphabet in a research report on Thursday, April 10th. Wolfe Research increased their target price on shares of Alphabet from $220.00 to $230.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Bank of America restated a “buy” rating and issued a $210.00 price target on shares of Alphabet in a research report on Monday, December 23rd. JPMorgan Chase & Co. lowered their target price on shares of Alphabet from $220.00 to $180.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $220.00 price target on shares of Alphabet in a research report on Wednesday, March 19th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and five have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $200.74.

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the completion of the transaction, the chief executive officer now directly owns 2,717,696 shares in the company, valued at $430,917,877.76. The trade was a 1.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ruth Porat sold 17,690 shares of Alphabet stock in a transaction on Friday, February 21st. The shares were sold at an average price of $183.48, for a total value of $3,245,761.20. Following the sale, the insider now directly owns 1,449,286 shares of the company’s stock, valued at $265,914,995.28. This represents a 1.21 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 148,163 shares of company stock worth $25,361,647. 11.55% of the stock is owned by company 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.