Freshford Capital Management LLC Trims Position in Alphabet Inc. (NASDAQ:GOOGL)

Freshford Capital Management LLC reduced its stake in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 11.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 413,206 shares of the information services provider’s stock after selling 53,882 shares during the quarter. Alphabet comprises approximately 9.4% of Freshford Capital Management LLC’s holdings, making the stock its 3rd biggest position. Freshford Capital Management LLC’s holdings in Alphabet were worth $57,721,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in GOOGL. Aire Advisors LLC increased its position in shares of Alphabet by 0.6% during the fourth quarter. Aire Advisors LLC now owns 11,772 shares of the information services provider’s stock valued at $1,645,000 after purchasing an additional 68 shares during the period. Defined Wealth Management LLC increased its position in shares of Alphabet by 2.9% during the fourth quarter. Defined Wealth Management LLC now owns 2,531 shares of the information services provider’s stock valued at $354,000 after purchasing an additional 71 shares during the period. WealthCare Investment Partners LLC grew its position in Alphabet by 2.1% in the fourth quarter. WealthCare Investment Partners LLC now owns 3,473 shares of the information services provider’s stock valued at $482,000 after acquiring an additional 71 shares during the period. Peoples Financial Services CORP. grew its position in Alphabet by 0.4% in the fourth quarter. Peoples Financial Services CORP. now owns 16,690 shares of the information services provider’s stock valued at $2,331,000 after acquiring an additional 72 shares during the period. Finally, RAM Investment Partners LLC boosted its stake in Alphabet by 1.0% in the fourth quarter. RAM Investment Partners LLC now owns 7,550 shares of the information services provider’s stock worth $1,055,000 after purchasing an additional 73 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GOOGL has been the topic of a number of recent analyst reports. Canaccord Genuity Group boosted their price objective on Alphabet from $190.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Tigress Financial increased their target price on Alphabet from $176.00 to $210.00 and gave the company a “strong-buy” rating in a research note on Friday, May 24th. BMO Capital Markets restated an “outperform” rating and issued a $215.00 price target on shares of Alphabet in a report on Wednesday, May 15th. JPMorgan Chase & Co. raised their price target on Alphabet from $165.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $200.00 price objective (up from $160.00) on shares of Alphabet in a research report on Friday, April 26th. Five research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $191.57.

View Our Latest Report on Alphabet

Alphabet Trading Up 0.3 %

Shares of GOOGL opened at $175.01 on Tuesday. The firm’s 50 day simple moving average is $166.20 and its 200 day simple moving average is $149.98. The company has a market capitalization of $2.16 trillion, a P/E ratio of 26.84, a P/E/G ratio of 1.31 and a beta of 1.01. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. Alphabet Inc. has a 1-year low of $115.35 and a 1-year high of $178.77.

Alphabet (NASDAQ:GOOGLGet Free Report) last posted its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.49 by $0.40. The firm had revenue of $80.54 billion for the quarter, compared to the consensus estimate of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same period last year, the firm posted $1.17 earnings per share. Sell-side analysts forecast that Alphabet Inc. will post 7.6 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, June 10th.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction on 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 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 accessible through this link. In related news, CAO Amie Thuener O’toole sold 682 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $154.79, for a total transaction of $105,566.78. Following the completion of the transaction, the chief accounting officer now directly owns 29,284 shares in the company, valued at approximately $4,532,870.36. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of the business’s 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 transaction, the chief executive officer now owns 2,310,191 shares of the company’s stock, valued at $343,710,216.98. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 157,458 shares of company stock worth $25,538,973. Insiders own 11.55% of the company’s stock.

Alphabet 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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