In Depth Partners LLC Trims Position in Alphabet Inc. (NASDAQ:GOOGL)

In Depth Partners LLC lowered its stake in Alphabet Inc. (NASDAQ:GOOGL) by 31.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 37,719 shares of the information services provider’s stock after selling 17,055 shares during the period. Alphabet makes up 7.6% of In Depth Partners LLC’s holdings, making the stock its 7th biggest holding. In Depth Partners LLC’s holdings in Alphabet were worth $7,140,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Anomaly Capital Management LP raised its holdings in shares of Alphabet by 34.5% during the fourth quarter. Anomaly Capital Management LP now owns 516,837 shares of the information services provider’s stock worth $97,837,000 after purchasing an additional 132,490 shares during the period. SIH Partners LLLP acquired a new stake in Alphabet during the fourth quarter worth about $684,000. Grafton Street Partners Fund LP lifted its holdings in Alphabet by 11.5% in the fourth quarter. Grafton Street Partners Fund LP now owns 114,773 shares of the information services provider’s stock worth $21,727,000 after acquiring an additional 11,800 shares during the last quarter. Beacon Investment Advisors LLC boosted its stake in Alphabet by 1.0% in the fourth quarter. Beacon Investment Advisors LLC now owns 9,466 shares of the information services provider’s stock valued at $1,792,000 after acquiring an additional 94 shares during the period. Finally, Fayez Sarofim & Co grew its holdings in shares of Alphabet by 20.7% during the fourth quarter. Fayez Sarofim & Co now owns 86,289 shares of the information services provider’s stock valued at $16,335,000 after purchasing an additional 14,810 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Activity

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $156.16, for a total transaction of $5,075,200.00. Following the completion of the transaction, the chief executive officer now directly owns 2,685,196 shares in the company, valued at $419,320,207.36. This represents a 1.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 1,340 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $202.08, for a total transaction of $270,787.20. Following the completion of the sale, the chief accounting officer now owns 17,848 shares in the company, valued at $3,606,723.84. This represents a 6.98 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 148,163 shares of company stock valued at $25,361,647. Insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Cantor Fitzgerald reduced their price objective on Alphabet from $200.00 to $159.00 and set a “neutral” rating for the company in a research report on Wednesday, April 16th. Piper Sandler reduced their price target on shares of Alphabet from $208.00 to $185.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $178.00 price objective on shares of Alphabet in a report on Wednesday, April 16th. Wolfe Research boosted their price objective on Alphabet from $220.00 to $230.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Finally, Citigroup reduced their price objective on shares of Alphabet from $229.00 to $195.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Ten analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and five have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $200.74.

Alphabet Trading Up 2.6 %

Alphabet stock opened at $151.47 on Wednesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The company has a market capitalization of $1.85 trillion, a price-to-earnings ratio of 18.82, a PEG ratio of 1.34 and a beta of 1.03. The company’s fifty day moving average price is $163.72 and its two-hundred day moving average price is $175.61. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05.

Alphabet (NASDAQ:GOOGL) last posted its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (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%. On average, analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.53%. The ex-dividend date was Monday, March 10th. Alphabet’s payout ratio is currently 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.