Alphabet Inc. (NASDAQ:GOOGL) Holdings Cut by Grassi Investment Management

Grassi Investment Management decreased its stake in Alphabet Inc. (NASDAQ:GOOGL) by 5.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 52,495 shares of the information services provider’s stock after selling 3,050 shares during the quarter. Grassi Investment Management’s holdings in Alphabet were worth $9,937,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. LMR Partners LLP bought a new position in shares of Alphabet during the 3rd quarter valued at $32,000. Denver PWM LLC bought a new position in shares of Alphabet during the 2nd quarter valued at $41,000. Quarry LP acquired a new position in Alphabet in the 2nd quarter valued at $53,000. Teachers Insurance & Annuity Association of America acquired a new position in Alphabet in the 3rd quarter valued at $66,000. Finally, Mendota Financial Group LLC grew its stake in Alphabet by 19.0% in the 3rd quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock valued at $67,000 after buying an additional 64 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on GOOGL. Roth Mkm raised their target price on shares of Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Sanford C. Bernstein raised their target price on shares of Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Bank of America reiterated a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research note on Monday, December 23rd. Needham & Company LLC reiterated a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research note on Wednesday, October 30th. Finally, Scotiabank upgraded shares of Alphabet to a “strong-buy” rating in a research report on Friday, October 11th. Nine equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $208.15.

Alphabet Trading Down 0.5 %

Shares of NASDAQ GOOGL opened at $191.01 on Tuesday. Alphabet Inc. has a 1-year low of $130.66 and a 1-year high of $201.42. The company has a market cap of $2.34 trillion, a PE ratio of 25.33, a P/E/G ratio of 1.35 and a beta of 0.98. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The company has a 50-day moving average of $183.05 and a two-hundred day moving average of $172.99.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. During the same period in the previous year, the firm posted $1.55 earnings per share. As a group, equities analysts expect that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s dividend payout ratio is 10.61%.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $171.42, for a total transaction of $234,331.14. Following the completion of the sale, the chief accounting officer now owns 26,349 shares in the company, valued at $4,516,745.58. The trade was a 4.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $166.30, for a total transaction of $3,741,750.00. Following the transaction, the chief executive officer now owns 2,106,806 shares of the company’s stock, valued at approximately $350,361,837.80. This represents a 1.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 153,053 shares of company stock worth $27,559,701 in the last quarter. 11.55% of the stock is owned by company insiders.

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.