Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. trimmed its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,533,681 shares of the information services provider’s stock after selling 64,001 shares during the period. Alphabet accounts for approximately 1.1% of PNC Financial Services Group Inc.’s holdings, making the stock its 9th largest holding. PNC Financial Services Group Inc.’s holdings in Alphabet were worth $1,615,426,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOGL. Compass Planning Associates Inc acquired a new stake in Alphabet during the fourth quarter worth about $30,000. LMR Partners LLP purchased a new stake in shares of Alphabet during the 3rd quarter worth about $32,000. E Fund Management Hong Kong Co. Ltd. increased its position in Alphabet by 518.8% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock worth $37,000 after purchasing an additional 166 shares in the last quarter. Fiduciary Advisors Inc. purchased a new position in Alphabet in the fourth quarter valued at approximately $39,000. Finally, PayPay Securities Corp lifted its position in Alphabet by 36.1% during the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after buying an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $162.80 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The firm has a market capitalization of $1.98 trillion, a PE ratio of 20.22, a P/E/G ratio of 1.34 and a beta of 1.02. Alphabet Inc. has a 1-year low of $146.90 and a 1-year high of $207.05. The business’s fifty day moving average price is $183.13 and its two-hundred day moving average price is $176.37.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. On average, research analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.49%. Alphabet’s dividend payout ratio is presently 9.94%.

Insider Buying and Selling

In related news, Director John L. Hennessy sold 200 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $165.53, for a total value of $33,106.00. Following the completion of the sale, the director now directly owns 7,813 shares of the company’s stock, valued at approximately $1,293,285.89. This represents a 2.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,368 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $191.55, for a total transaction of $262,040.40. Following the completion of the sale, the chief accounting officer now directly owns 20,681 shares of the company’s stock, valued at $3,961,445.55. This trade represents a 6.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 93,048 shares of company stock valued at $17,374,274 in the last three months. 11.55% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

GOOGL has been the topic of a number of research reports. The Goldman Sachs Group reissued a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research note on Thursday, December 12th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $200.00 target price on shares of Alphabet in a research report on Wednesday. Rosenblatt Securities reiterated a “neutral” rating and set a $205.00 target price on shares of Alphabet in a report on Wednesday. Citizens Jmp lowered Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Finally, DZ Bank downgraded shares of Alphabet from a “buy” rating to a “hold” rating and set a $198.00 price objective for the company. in a research report on Thursday, February 6th. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $210.59.

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.