Dynamic Technology Lab Private Ltd Cuts Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Dynamic Technology Lab Private Ltd decreased its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 23.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,836 shares of the information services provider’s stock after selling 3,649 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Alphabet were worth $1,653,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of GOOGL. DiNuzzo Private Wealth Inc. bought a new stake in shares of Alphabet in the fourth quarter valued at $38,000. Meritage Group LP raised its stake in shares of Alphabet by 1,061.5% in the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock valued at $40,000 after buying an additional 276 shares during the period. Armor Investment Advisors LLC raised its stake in shares of 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 raised its stake in shares of Alphabet by 55.9% in the fourth quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock valued at $48,000 after buying an additional 123 shares during the period. Finally, Valued Wealth Advisors LLC bought a new stake in shares of Alphabet in the fourth quarter valued at $55,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GOOGL. Loop Capital boosted their target price on Alphabet from $155.00 to $170.00 and gave the company a “hold” rating in a research note on Wednesday, May 1st. Citigroup boosted their price objective on Alphabet from $168.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Barclays boosted their price objective on Alphabet from $173.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Sanford C. Bernstein boosted their price objective on Alphabet from $165.00 to $180.00 and gave the company a “market perform” rating in a research note on Friday, April 26th. Finally, Raymond James boosted their target price on Alphabet from $160.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Five research 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $191.57.

Alphabet Trading Up 0.8 %

Shares of GOOGL stock opened at $174.99 on Friday. Alphabet Inc. has a 12-month low of $115.35 and a 12-month high of $178.77. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. The stock’s 50-day moving average price is $160.81 and its 200-day moving average price is $146.70. The stock has a market capitalization of $2.16 trillion, a price-to-earnings ratio of 26.84, a price-to-earnings-growth ratio of 1.30 and a beta of 1.02.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.49 by $0.40. The company had revenue of $80.54 billion during 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 quarter last year, the business posted $1.17 earnings per share. Equities research analysts predict that Alphabet Inc. will post 7.61 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. The ex-dividend date is Monday, June 10th.

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total value of $2,985,750.00. Following the completion of the sale, the chief executive officer now directly owns 2,332,691 shares in the company, valued at approximately $309,548,095.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Alphabet news, Director John L. Hennessy sold 300 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $139.51, for a total transaction of $41,853.00. Following the completion of the transaction, the director now directly owns 9,291 shares of the company’s stock, valued at approximately $1,296,187.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the transaction, the chief executive officer now directly owns 2,332,691 shares of the company’s stock, valued at approximately $309,548,095.70. The disclosure for this sale can be found here. Over the last quarter, insiders sold 205,935 shares of company stock valued at $31,178,987. Corporate insiders own 11.55% 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.