Flower City Capital Lowers Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Flower City Capital decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 3.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 2,240 shares of the information services provider’s stock after selling 69 shares during the period. Alphabet accounts for about 0.3% of Flower City Capital’s investment portfolio, making the stock its 21st largest holding. Flower City Capital’s holdings in Alphabet were worth $424,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Lantz Financial LLC increased its position in Alphabet by 10.8% during the second quarter. Lantz Financial LLC now owns 4,622 shares of the information services provider’s stock worth $842,000 after purchasing an additional 452 shares during the last quarter. Evernest Financial Advisors LLC increased its stake in Alphabet by 0.7% during the second quarter. Evernest Financial Advisors LLC now owns 11,576 shares of the information services provider’s stock worth $2,109,000 after acquiring an additional 81 shares during the last quarter. Marco Investment Management LLC raised its holdings in shares of Alphabet by 3.1% in the 2nd quarter. Marco Investment Management LLC now owns 69,839 shares of the information services provider’s stock worth $12,721,000 after purchasing an additional 2,088 shares during the period. HHM Wealth Advisors LLC lifted its stake in shares of Alphabet by 1.6% in the 2nd quarter. HHM Wealth Advisors LLC now owns 8,074 shares of the information services provider’s stock valued at $1,471,000 after purchasing an additional 130 shares in the last quarter. Finally, Wellington Shields & Co. LLC grew its holdings in shares of Alphabet by 0.9% during the 2nd quarter. Wellington Shields & Co. LLC now owns 16,349 shares of the information services provider’s stock worth $2,978,000 after purchasing an additional 150 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GOOGL. JMP Securities reaffirmed a “market perform” rating on shares of Alphabet in a research report on Friday, January 10th. Roth Mkm increased their price target on Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. BMO Capital Markets restated an “outperform” rating and set a $217.00 price objective (up previously from $215.00) on shares of Alphabet in a research note on Wednesday, October 30th. Royal Bank of Canada increased their target price on Alphabet from $204.00 to $210.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley upped their price target on Alphabet from $205.00 to $215.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Nine equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $208.67.

Read Our Latest Analysis on Alphabet

Insider Buying and Selling

In other news, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $180.78, for a total value of $1,898,190.00. Following the sale, the director now owns 330,466 shares of the company’s stock, valued at approximately $59,741,643.48. The trade was a 3.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 1,367 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $170.41, for a total value of $232,950.47. Following the transaction, the chief accounting officer now directly owns 23,515 shares of the company’s stock, valued at $4,007,191.15. This represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 133,387 shares of company stock valued at $24,368,654 over the last quarter. Corporate insiders own 11.55% of the company’s stock.

Alphabet Stock Down 0.2 %

GOOGL opened at $197.98 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. Alphabet Inc. has a 12 month low of $130.66 and a 12 month high of $202.29. The stock’s 50 day moving average price is $185.46 and its 200 day moving average price is $173.55. The stock has a market cap of $2.42 trillion, a P/E ratio of 26.26, a P/E/G ratio of 1.27 and a beta of 0.98.

Alphabet (NASDAQ:GOOGLGet Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period in the previous year, the business earned $1.55 earnings per share. As a group, research analysts predict that Alphabet Inc. will post 8.03 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.40%. The ex-dividend date was Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

Alphabet Company 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.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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