Alphabet Inc. (NASDAQ:GOOGL) Stock Position Decreased by Cary Street Partners Investment Advisory LLC

Cary Street Partners Investment Advisory LLC decreased its position in Alphabet Inc. (NASDAQ:GOOGL) by 99.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 629 shares of the information services provider’s stock after selling 141,748 shares during the quarter. Cary Street Partners Investment Advisory LLC’s holdings in Alphabet were worth $88,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in GOOGL. Bfsg LLC lifted its stake in shares of Alphabet by 17.4% in the third quarter. Bfsg LLC now owns 14,095 shares of the information services provider’s stock worth $1,845,000 after buying an additional 2,085 shares during the last quarter. One Day In July LLC raised its holdings in Alphabet by 12.9% in the 3rd quarter. One Day In July LLC now owns 5,601 shares of the information services provider’s stock worth $733,000 after acquiring an additional 638 shares during the period. Schmidt P J Investment Management Inc. lifted its position in Alphabet by 4.6% during the 3rd quarter. Schmidt P J Investment Management Inc. now owns 7,310 shares of the information services provider’s stock worth $1,007,000 after acquiring an additional 320 shares during the last quarter. Reston Wealth Management LLC boosted its holdings in Alphabet by 9.1% during the third quarter. Reston Wealth Management LLC now owns 4,411 shares of the information services provider’s stock valued at $577,000 after acquiring an additional 369 shares during the period. Finally, Avestar Capital LLC grew its position in shares of Alphabet by 7.6% in the third quarter. Avestar Capital LLC now owns 56,197 shares of the information services provider’s stock valued at $7,354,000 after purchasing an additional 3,989 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $166.80, for a total value of $3,753,000.00. Following the transaction, the chief executive officer now directly owns 2,280,511 shares in the company, valued at approximately $380,389,234.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $166.80, for a total transaction of $3,753,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,280,511 shares in the company, valued at approximately $380,389,234.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John L. Hennessy sold 2,100 shares of Alphabet stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $175.76, for a total transaction of $369,096.00. Following the transaction, the director now directly owns 5,891 shares in the company, valued at approximately $1,035,402.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 252,629 shares of company stock valued at $37,091,240. Company insiders own 0.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Royal Bank of Canada increased 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. Needham & Company LLC boosted their target price on shares of Alphabet from $160.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Wolfe Research raised their price target on shares of Alphabet from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. UBS Group upped their price objective on shares of Alphabet from $150.00 to $166.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Finally, BMO Capital Markets lifted their target price on Alphabet from $185.00 to $215.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Five investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $190.60.

Alphabet Stock Up 1.9 %

NASDAQ GOOGL opened at $171.25 on Wednesday. The stock has a market capitalization of $2.12 trillion, a P/E ratio of 26.27, a price-to-earnings-growth ratio of 1.28 and a beta of 1.02. Alphabet Inc. has a 52 week low of $105.16 and a 52 week high of $174.71. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15. The stock has a fifty day moving average of $151.40 and a 200-day moving average of $142.83.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.40. The firm had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $66.04 billion. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. During the same period in the previous year, the business posted $1.17 EPS. On average, equities research analysts forecast that Alphabet Inc. will post 7.57 EPS for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders 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 yield of 0.47%. The ex-dividend date of this dividend is Monday, June 10th.

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.