Gamco Investors INC. ET AL Sells 11,845 Shares of Alphabet Inc. (NASDAQ:GOOG)

Gamco Investors INC. ET AL trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOG) by 4.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 231,735 shares of the information services provider’s stock after selling 11,845 shares during the period. Gamco Investors INC. ET AL’s holdings in Alphabet were worth $44,132,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Jump Financial LLC boosted its stake in shares of Alphabet by 45.5% in the 4th quarter. Jump Financial LLC now owns 45,526 shares of the information services provider’s stock worth $8,670,000 after buying an additional 14,229 shares during the last quarter. Kane Investment Management Inc. purchased a new position in Alphabet in the fourth quarter worth about $814,000. Rench Wealth Management Inc. grew its stake in shares of Alphabet by 3.1% during the 4th quarter. Rench Wealth Management Inc. now owns 55,288 shares of the information services provider’s stock valued at $10,529,000 after purchasing an additional 1,648 shares during the period. Rossby Financial LCC purchased a new stake in shares of Alphabet during the 4th quarter valued at about $1,508,000. Finally, Chiron Investment Management LLC lifted its stake in shares of Alphabet by 169.9% in the 4th quarter. Chiron Investment Management LLC now owns 41,176 shares of the information services provider’s stock worth $7,842,000 after purchasing an additional 25,918 shares during the period. Institutional investors own 27.26% of the company’s stock.

Insider Activity

In other news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the sale, the chief executive officer now owns 2,717,696 shares of the company’s stock, valued at approximately $430,917,877.76. This represents a 1.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the transaction, the director now directly owns 7,813 shares in the company, valued at approximately $1,293,285.89. The trade was a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 118,497 shares of company stock valued at $20,837,150. Corporate insiders own 12.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on GOOG shares. Needham & Company LLC reaffirmed a “buy” rating on shares of Alphabet in a report on Wednesday, February 5th. Citizens Jmp lowered Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Rosenblatt Securities reiterated a “neutral” rating on shares of Alphabet in a research report on Wednesday, March 19th. Cantor Fitzgerald restated a “neutral” rating and issued a $200.00 price target on shares of Alphabet in a research report on Wednesday, March 19th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Alphabet in a research report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $208.71.

Alphabet Stock Performance

Alphabet stock opened at $161.47 on Tuesday. 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 $1.97 trillion, a P/E ratio of 20.06, a price-to-earnings-growth ratio of 1.34 and a beta of 1.04. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70. The company’s 50-day moving average is $169.86 and its 200 day moving average is $177.96.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Research analysts forecast that Alphabet Inc. will post 8.89 EPS for the current year.

Alphabet Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.50%. Alphabet’s dividend payout ratio is currently 9.94%.

Alphabet 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.