American Financial Advisors LLC Sells 415 Shares of Alphabet Inc. (NASDAQ:GOOGL)

American Financial Advisors LLC cut its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,844 shares of the information services provider’s stock after selling 415 shares during the quarter. American Financial Advisors LLC’s holdings in Alphabet were worth $2,632,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of GOOGL. FMR LLC grew its holdings in shares of Alphabet by 5.6% during the third quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock worth $29,746,764,000 after buying an additional 12,070,681 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of Alphabet by 4,894.1% during the fourth quarter. International Assets Investment Management LLC now owns 5,445,396 shares of the information services provider’s stock worth $7,606,670,000 after buying an additional 5,336,359 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new position in shares of Alphabet during the third quarter worth about $634,465,000. Ontario Teachers Pension Plan Board bought a new position in shares of Alphabet during the third quarter worth about $601,545,000. Finally, Lone Pine Capital LLC bought a new position in shares of Alphabet during the third quarter worth about $407,367,000. 40.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Redburn Atlantic raised their price target on Alphabet from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. Needham & Company LLC raised their price target on Alphabet from $160.00 to $210.00 and gave the company a “buy” rating in a research note on Friday. Wells Fargo & Company raised their price target on Alphabet from $141.00 to $168.00 and gave the company an “equal weight” rating in a research note on Friday. Mizuho raised their price target on Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Friday. Finally, Barclays raised their price target on Alphabet from $173.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday. Five equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $187.82.

Alphabet Trading Up 10.2 %

Shares of GOOGL stock opened at $171.95 on Friday. Alphabet Inc. has a 1-year low of $103.54 and a 1-year high of $174.71. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The stock has a 50-day moving average of $147.85 and a 200-day moving average of $141.42. The stock has a market cap of $2.14 trillion, a price-to-earnings ratio of 26.37, a PEG ratio of 1.43 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. Alphabet had a return on equity of 30.01% and a net margin of 25.90%. The company had revenue of $86.31 billion for the quarter, compared to analyst estimates of $70.77 billion. During the same quarter in the prior year, the company earned $1.05 EPS. On average, equities research analysts forecast that Alphabet Inc. will post 6.79 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. Alphabet’s payout ratio is 12.27%.

Insider Activity at Alphabet

In related news, Director Frances Arnold sold 230 shares of the company’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total transaction of $35,433.80. Following the sale, the director now owns 15,104 shares in the company, valued at approximately $2,326,922.24. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 660 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total value of $94,769.40. Following the transaction, the chief accounting officer now owns 27,920 shares in the company, valued at $4,009,032.80. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Frances Arnold sold 230 shares of the stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $154.06, for a total value of $35,433.80. Following the completion of the transaction, the director now owns 15,104 shares in the company, valued at approximately $2,326,922.24. The disclosure for this sale can be found here. Insiders have sold a total of 253,439 shares of company stock worth $36,746,578 in the last 90 days. Corporate insiders own 0.88% of the company’s stock.

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.