Fiduciary Group LLC Sells 1,666 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Fiduciary Group LLC trimmed its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 59,987 shares of the information services provider’s stock after selling 1,666 shares during the quarter. Alphabet makes up 1.0% of Fiduciary Group LLC’s holdings, making the stock its 25th biggest holding. Fiduciary Group LLC’s holdings in Alphabet were worth $8,380,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in GOOGL. Meritage Group LP increased its position in Alphabet by 1,061.5% during the 3rd quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock valued at $40,000 after purchasing an additional 276 shares during the period. Macroview Investment Management LLC raised its stake in Alphabet by 165.8% during the third quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock worth $42,000 after buying an additional 199 shares during the last quarter. Armor Investment Advisors LLC lifted its holdings in Alphabet by 31.0% in the fourth quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock valued at $47,000 after buying an additional 80 shares during the period. IAG Wealth Partners LLC boosted its position in Alphabet by 55.9% during the fourth quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock valued at $48,000 after acquiring an additional 123 shares during the last quarter. Finally, Valued Wealth Advisors LLC acquired a new stake in Alphabet during the 4th quarter worth about $55,000. 40.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on GOOGL shares. Wedbush increased their target price on shares of Alphabet from $175.00 to $205.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Jefferies Financial Group upped their price objective on shares of Alphabet from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Royal Bank of Canada boosted their target price on shares of Alphabet from $155.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. TD Cowen raised their price target on shares of Alphabet from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Finally, UBS Group boosted their price objective on Alphabet from $150.00 to $166.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Five investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $190.60.

Alphabet Price Performance

Shares of NASDAQ:GOOGL opened at $168.10 on Tuesday. The company’s fifty day moving average price is $150.75 and its 200-day moving average price is $142.58. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. The firm has a market capitalization of $2.08 trillion, a price-to-earnings ratio of 25.78, a PEG ratio of 1.28 and a beta of 1.02. Alphabet Inc. has a one year low of $105.16 and a one year high of $174.71.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, beating the consensus estimate of $1.49 by $0.40. The firm had revenue of $80.54 billion for the quarter, compared to analyst estimates of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same period in the prior year, the company earned $1.17 EPS. On average, equities research analysts anticipate that Alphabet Inc. will post 7.57 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be issued a $0.20 dividend. The ex-dividend date is Monday, June 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.48%.

Insider Activity

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $166.80, for a total transaction of $3,753,000.00. Following the completion of the sale, the chief executive officer now owns 2,280,511 shares of the company’s stock, valued at $380,389,234.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $166.80, for a total transaction of $3,753,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,280,511 shares of the company’s stock, valued at $380,389,234.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Ruth Porat sold 48,077 shares of the stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $137.22, for a total transaction of $6,597,125.94. Following the sale, the chief financial officer now owns 1,777,106 shares of the company’s stock, valued at $243,854,485.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 275,129 shares of company stock valued at $40,382,765. Insiders own 0.88% of the company’s stock.

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.