Buckhead Capital Management LLC Trims Position in Alphabet Inc. (NASDAQ:GOOGL)

Buckhead Capital Management LLC cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 10.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 25,699 shares of the information services provider’s stock after selling 2,859 shares during the quarter. Buckhead Capital Management LLC’s holdings in Alphabet were worth $3,590,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. RWQ Financial Management Services Inc. increased its holdings in shares of Alphabet by 8.2% during the 4th quarter. RWQ Financial Management Services Inc. now owns 61,499 shares of the information services provider’s stock valued at $8,591,000 after purchasing an additional 4,664 shares in the last quarter. Robbins Farley increased its holdings in shares of Alphabet by 0.8% during the 4th quarter. Robbins Farley now owns 15,006 shares of the information services provider’s stock valued at $2,096,000 after purchasing an additional 118 shares in the last quarter. Quantum Financial Advisors LLC increased its holdings in shares of Alphabet by 8.0% during the 3rd quarter. Quantum Financial Advisors LLC now owns 7,623 shares of the information services provider’s stock valued at $998,000 after purchasing an additional 564 shares in the last quarter. Colton Groome Financial Advisors LLC increased its holdings in shares of Alphabet by 3.8% during the 4th quarter. Colton Groome Financial Advisors LLC now owns 2,700 shares of the information services provider’s stock valued at $377,000 after purchasing an additional 100 shares in the last quarter. Finally, Acadian Asset Management LLC increased its holdings in shares of Alphabet by 2.4% during the 3rd quarter. Acadian Asset Management LLC now owns 4,416,533 shares of the information services provider’s stock valued at $577,908,000 after purchasing an additional 104,366 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Stock Up 0.3 %

Shares of NASDAQ:GOOGL opened at $169.96 on Friday. The firm’s 50-day moving average is $152.06 and its two-hundred day moving average is $143.01. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. Alphabet Inc. has a 1 year low of $107.93 and a 1 year high of $174.71. The firm has a market capitalization of $2.10 trillion, a PE ratio of 26.07, a price-to-earnings-growth ratio of 1.28 and a beta of 1.02.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The firm had revenue of $80.54 billion for the quarter, compared to analyst estimates of $66.04 billion. During the same period in the prior year, the firm earned $1.17 earnings per share. Analysts predict that Alphabet Inc. will post 7.57 EPS for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.47%. Alphabet’s payout ratio is 12.27%.

Analyst Upgrades and Downgrades

GOOGL has been the subject of several recent analyst reports. Susquehanna boosted their price target on shares of Alphabet from $170.00 to $225.00 and gave the stock a “positive” rating in a report on Monday, April 29th. Truist Financial boosted their price target on shares of Alphabet from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Jefferies Financial Group boosted their price target on shares of Alphabet from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Robert W. Baird boosted their price target on shares of Alphabet from $160.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Finally, JMP Securities boosted their price target on shares of Alphabet from $160.00 to $200.00 and gave the stock a “market outperform” rating in a report on Friday, April 26th. Five research analysts have rated the stock with a hold rating, thirty have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $190.60.

Insider Buying and Selling

In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 2,280,511 shares in the company, valued at $380,389,234.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $166.80, for a total value 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ruth Porat sold 48,077 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $137.22, for a total value of $6,597,125.94. Following the completion of the transaction, the chief financial officer now directly 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. Over the last ninety days, insiders have sold 252,629 shares of company stock worth $37,091,240. Company insiders own 0.88% of the company’s stock.

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.