Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Mark Asset Management LP

Mark Asset Management LP lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 0.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 151,184 shares of the information services provider’s stock after selling 910 shares during the quarter. Alphabet makes up about 2.8% of Mark Asset Management LP’s investment portfolio, making the stock its 14th biggest position. Mark Asset Management LP’s holdings in Alphabet were worth $21,119,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in GOOGL. RWQ Financial Management Services Inc. raised its position in Alphabet by 8.2% in the fourth 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 raised its stake in shares of Alphabet by 55.4% during the fourth 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 during the period. Robbins Farley raised its stake in shares of Alphabet by 0.8% during the fourth 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 during the period. Quantum Financial Advisors LLC raised its stake in shares of Alphabet by 8.0% during the third quarter. Quantum Financial Advisors LLC now owns 7,623 shares of the information services provider’s stock valued at $998,000 after purchasing an additional 564 shares during the period. Finally, Colton Groome Financial Advisors LLC raised its stake in shares of Alphabet by 3.8% during the fourth quarter. Colton Groome Financial Advisors LLC now owns 2,700 shares of the information services provider’s stock valued at $377,000 after purchasing an additional 100 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $148.78, for a total transaction of $3,347,550.00. Following the sale, the chief executive officer now directly owns 2,310,191 shares in the company, valued at approximately $343,710,216.98. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Sundar Pichai sold 22,500 shares of Alphabet 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 transaction, the chief executive officer now owns 2,310,191 shares in the company, valued at $343,710,216.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $173.86, for a total value of $118,572.52. Following the completion of the transaction, the chief accounting officer now directly owns 29,966 shares in the company, valued at $5,209,888.76. The disclosure for this sale can be found here. Insiders sold 157,458 shares of company stock worth $25,538,973 over the last ninety days. Company insiders own 11.55% of the company’s stock.

Alphabet Trading Up 0.3 %

Shares of NASDAQ:GOOGL opened at $175.01 on Tuesday. The firm has a fifty day moving average of $166.20 and a two-hundred day moving average of $149.98. 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 12-month low of $115.35 and a 12-month high of $178.77. The firm has a market capitalization of $2.16 trillion, a P/E ratio of 26.84, a price-to-earnings-growth ratio of 1.31 and a beta of 1.01.

Alphabet (NASDAQ:GOOGLGet Free Report) last posted 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 company had revenue of $80.54 billion during 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 period last year, the business earned $1.17 EPS. On average, equities analysts expect that Alphabet Inc. will post 7.6 EPS for the current fiscal year.

Alphabet Dividend Announcement

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 paid a $0.20 dividend. 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.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of analyst reports. Wells Fargo & Company lifted their target price on Alphabet from $141.00 to $168.00 and gave the stock an “equal weight” rating in a research report on Friday, April 26th. TD Cowen lifted their price target on shares of Alphabet from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Loop Capital boosted their price objective on Alphabet from $155.00 to $170.00 and gave the company a “hold” rating in a report on Wednesday, May 1st. Mizuho boosted their price objective on Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a report on Friday, April 26th. Finally, Sanford C. Bernstein boosted their price objective on Alphabet from $165.00 to $180.00 and gave the company a “market perform” rating in a report on Friday, April 26th. Five equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $191.71.

View Our Latest Stock Report on GOOGL

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.

Further Reading

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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