Cheviot Value Management LLC Sells 10,868 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Cheviot Value Management LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 4.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 210,207 shares of the information services provider’s stock after selling 10,868 shares during the quarter. Alphabet comprises about 6.4% of Cheviot Value Management LLC’s investment portfolio, making the stock its 2nd largest position. Cheviot Value Management LLC’s holdings in Alphabet were worth $29,610,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC grew its stake in Alphabet by 5.6% in the 3rd quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock valued at $29,746,764,000 after acquiring an additional 12,070,681 shares during the last quarter. Norges Bank acquired a new stake in Alphabet in the 4th quarter valued at about $15,441,917,000. Northern Trust Corp grew its stake in Alphabet by 3.7% in the 3rd quarter. Northern Trust Corp now owns 67,684,197 shares of the information services provider’s stock valued at $8,857,154,000 after acquiring an additional 2,416,328 shares during the last quarter. Fisher Asset Management LLC grew its stake in Alphabet by 3.4% in the 4th quarter. Fisher Asset Management LLC now owns 45,220,857 shares of the information services provider’s stock valued at $6,316,902,000 after acquiring an additional 1,472,043 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Alphabet by 2.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 34,910,194 shares of the information services provider’s stock valued at $4,876,605,000 after acquiring an additional 874,919 shares during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on GOOGL shares. JPMorgan Chase & Co. upped their target price on shares of Alphabet from $165.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, April 26th. Roth Mkm upped their target price on shares of Alphabet from $164.00 to $202.00 and gave the company a “buy” rating in a report on Friday, April 26th. Stifel Nicolaus restated a “buy” rating and issued a $196.00 target price on shares of Alphabet in a report on Wednesday, May 15th. UBS Group upped their target price on shares of Alphabet from $150.00 to $166.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Finally, Robert W. Baird upped their target price on shares of Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a 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’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $191.57.

Read Our Latest Stock Analysis on GOOGL

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $176.58, for a total transaction of $3,973,050.00. Following the sale, the chief executive officer now directly owns 2,235,511 shares in the company, valued at $394,746,532.38. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $173.86, for a total transaction of $118,572.52. Following the sale, the chief accounting officer now directly owns 29,966 shares in the company, valued at $5,209,888.76. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $176.58, for a total transaction of $3,973,050.00. Following the sale, the chief executive officer now owns 2,235,511 shares in the company, valued at $394,746,532.38. The disclosure for this sale can be found here. Over the last three months, insiders have sold 157,458 shares of company stock worth $25,538,973. 11.55% of the stock is owned by insiders.

Alphabet Stock Up 0.3 %

GOOGL stock opened at $175.01 on Tuesday. The firm has a 50 day simple moving average of $166.20 and a 200-day simple moving average of $149.98. Alphabet Inc. has a twelve month low of $115.35 and a twelve month high of $178.77. The company has a market capitalization of $2.16 trillion, a P/E ratio of 26.84, a PEG ratio of 1.31 and a beta of 1.01. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGLGet Free Report) last announced its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The firm had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $66.04 billion. During the same period last year, the business posted $1.17 earnings per share. On average, equities research analysts predict that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend is Monday, June 10th.

Alphabet Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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