Mitchell Mcleod Pugh & Williams Inc. decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 7.3% during the fourth quarter, HoldingsChannel reports. The firm owned 29,536 shares of the information services provider’s stock after selling 2,332 shares during the period. Alphabet comprises 1.2% of Mitchell Mcleod Pugh & Williams Inc.’s portfolio, making the stock its 16th largest holding. Mitchell Mcleod Pugh & Williams Inc.’s holdings in Alphabet were worth $5,591,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the business. Conrad Siegel Investment Advisors Inc. lifted its holdings in Alphabet by 0.5% in the fourth quarter. Conrad Siegel Investment Advisors Inc. now owns 9,845 shares of the information services provider’s stock valued at $1,864,000 after acquiring an additional 53 shares during the period. Denver PWM LLC boosted its holdings in Alphabet by 25.4% during the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after buying an additional 57 shares in the last quarter. Ignite Planners LLC grew its position in Alphabet by 0.4% during the fourth quarter. Ignite Planners LLC now owns 15,078 shares of the information services provider’s stock valued at $2,892,000 after buying an additional 57 shares during the period. Fermata Advisors LLC increased its holdings in Alphabet by 0.8% in the fourth quarter. Fermata Advisors LLC now owns 7,433 shares of the information services provider’s stock valued at $1,407,000 after buying an additional 57 shares in the last quarter. Finally, Winch Advisory Services LLC raised its position in shares of Alphabet by 1.3% in the fourth quarter. Winch Advisory Services LLC now owns 4,386 shares of the information services provider’s stock worth $830,000 after acquiring an additional 58 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts recently weighed in on GOOGL shares. Sanford C. Bernstein lifted their price target on Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Bank of America reaffirmed a “buy” rating and set a $210.00 target price on shares of Alphabet in a research note on Monday, December 23rd. Cantor Fitzgerald dropped their price target on shares of Alphabet from $215.00 to $210.00 and set a “neutral” rating on the stock in a research note on Wednesday. KeyCorp upped their price objective on shares of Alphabet from $215.00 to $225.00 and gave the stock an “overweight” rating in a research report on Friday, January 10th. Finally, Loop Capital lifted their target price on shares of Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Nine equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $209.44.
Insider Transactions at Alphabet
In other Alphabet news, Director Kavitark Ram Shriram sold 37,134 shares of the company’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the sale, the director now owns 282,832 shares in the company, valued at $52,329,576.64. This represents a 11.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $177.36, for a total value of $3,990,600.00. Following the completion of the transaction, the chief executive officer now owns 2,084,306 shares of the company’s stock, valued at $369,672,512.16. The trade was a 1.07 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 133,387 shares of company stock valued at $24,368,654. 11.55% of the stock is currently owned by company insiders.
Alphabet Price Performance
GOOGL stock opened at $200.21 on Friday. The business’s fifty day moving average price is $185.91 and its 200 day moving average price is $173.72. Alphabet Inc. has a 12-month low of $130.66 and a 12-month high of $202.29. The company has a market capitalization of $2.45 trillion, a PE ratio of 26.55, a P/E/G ratio of 1.27 and a beta of 0.98. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04.
Alphabet (NASDAQ:GOOGL – Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarter in the prior year, the company earned $1.55 earnings per share. On average, sell-side analysts anticipate that Alphabet Inc. will post 8.02 EPS for the current year.
Alphabet Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were paid a $0.20 dividend. The ex-dividend date was Monday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 0.40%. Alphabet’s dividend payout ratio (DPR) is 10.61%.
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.
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