Freshford Capital Management LLC Sells 53,882 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Freshford Capital Management LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 11.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 413,206 shares of the information services provider’s stock after selling 53,882 shares during the quarter. Alphabet comprises approximately 9.4% of Freshford Capital Management LLC’s holdings, making the stock its 3rd largest position. Freshford Capital Management LLC’s holdings in Alphabet were worth $57,721,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. RWQ Financial Management Services Inc. boosted its stake in 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 during the period. Picton Mahoney Asset Management increased its holdings in Alphabet by 55.4% during the 4th quarter. Picton Mahoney Asset Management now owns 214,443 shares of the information services provider’s stock valued at $29,956,000 after purchasing an additional 76,410 shares in the last quarter. Robbins Farley increased its holdings in 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 stake in shares of Alphabet by 8.0% in the 3rd quarter. Quantum Financial Advisors LLC now owns 7,623 shares of the information services provider’s stock valued at $998,000 after buying an additional 564 shares during the period. Finally, Colton Groome Financial Advisors LLC increased its stake in shares of Alphabet by 3.8% in 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 buying an additional 100 shares during the period. Institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $175.01 on Tuesday. The business’s 50 day moving average price is $166.20 and its two-hundred day moving average price is $149.98. The company has a market cap of $2.16 trillion, a PE ratio of 26.84, a price-to-earnings-growth ratio of 1.31 and a beta of 1.01. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a twelve month low of $115.35 and a twelve month high of $178.77.

Alphabet (NASDAQ:GOOGLGet Free Report) last announced its quarterly 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. The firm had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same quarter in the previous year, the business earned $1.17 earnings per share. On average, analysts predict that Alphabet Inc. will post 7.6 EPS for the current year.

Alphabet Announces Dividend

The company 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 dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, June 10th.

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 500 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $149.50, for a total transaction of $74,750.00. Following the completion of the sale, the director now owns 8,791 shares in the company, valued at $1,314,254.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director John L. Hennessy sold 500 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $149.50, for a total value of $74,750.00. Following the completion of the sale, the director now directly owns 8,791 shares in the company, valued at $1,314,254.50. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $148.78, for a total value of $3,347,550.00. Following the completion of the sale, the chief executive officer now owns 2,310,191 shares of the company’s stock, valued at $343,710,216.98. The disclosure for this sale can be found here. Insiders sold a total of 157,458 shares of company stock worth $25,538,973 over the last quarter. Company insiders own 11.55% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on GOOGL shares. Royal Bank of Canada lifted their target price on Alphabet from $155.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Robert W. Baird raised their price target on Alphabet from $160.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Loop Capital raised their price target on Alphabet from $155.00 to $170.00 and gave the stock a “hold” rating in a research report on Wednesday, May 1st. Rosenblatt Securities raised their price target on Alphabet from $172.00 to $182.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Finally, TD Cowen raised their price target on Alphabet from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Five equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $191.57.

Check Out Our Latest Stock Report on Alphabet

About Alphabet

(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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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