Alphabet Inc. (NASDAQ:GOOGL) Position Cut by Capital Group Private Client Services Inc.

Capital Group Private Client Services Inc. lowered its position in Alphabet Inc. (NASDAQ:GOOGL) by 0.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,299,724 shares of the information services provider’s stock after selling 9,795 shares during the quarter. Alphabet makes up approximately 2.3% of Capital Group Private Client Services Inc.’s portfolio, making the stock its 8th biggest position. Capital Group Private Client Services Inc.’s holdings in Alphabet were worth $246,038,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the company. Compass Planning Associates Inc acquired a new position in shares of Alphabet in the fourth quarter valued at approximately $30,000. E Fund Management Hong Kong Co. Ltd. increased its stake in 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 period. Fiduciary Advisors Inc. acquired a new stake in shares of Alphabet in the 4th quarter worth $39,000. PayPay Securities Corp boosted its holdings in shares of Alphabet by 36.1% in the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after acquiring an additional 65 shares in the last quarter. Finally, Denver PWM LLC increased its stake in shares of Alphabet by 25.4% during 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. 40.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on GOOGL shares. Mizuho dropped their target price on Alphabet from $230.00 to $205.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. Wells Fargo & Company dropped their price objective on Alphabet from $184.00 to $167.00 and set an “equal weight” rating on the stock in a report on Monday, March 31st. Jefferies Financial Group decreased their target price on shares of Alphabet from $235.00 to $200.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. DZ Bank cut shares of Alphabet from a “buy” rating to a “hold” rating and set a $198.00 price target on the stock. in a research note on Thursday, February 6th. Finally, Cantor Fitzgerald reduced their price objective on shares of Alphabet from $200.00 to $159.00 and set a “neutral” rating for the company in a research note on Wednesday. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and five have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $200.74.

Alphabet Stock Down 1.5 %

GOOGL opened at $151.08 on Friday. The company has a market cap of $1.84 trillion, a PE ratio of 18.77, a price-to-earnings-growth 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 Inc. has a 1 year low of $140.53 and a 1 year high of $207.05. The firm has a 50 day moving average price of $165.14 and a 200 day moving average price of $175.84.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, February 4th. The information services provider reported $2.15 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%. Sell-side analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s dividend payout ratio is presently 9.94%.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 1,340 shares of Alphabet stock in a transaction that occurred 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 sale, the chief accounting officer now owns 17,848 shares in the company, valued at $3,606,723.84. This trade represents a 6.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the sale, the director now directly owns 7,813 shares of the company’s stock, valued at approximately $1,293,285.89. The trade was a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 148,163 shares of company stock valued at $25,361,647 over the last quarter. Company insiders own 11.55% of the company’s stock.

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.