Private Management Group Inc. Sells 44,611 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Private Management Group Inc. lowered its stake in Alphabet Inc. (NASDAQ:GOOGL) by 19.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 190,640 shares of the information services provider’s stock after selling 44,611 shares during the quarter. Private Management Group Inc.’s holdings in Alphabet were worth $26,631,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of GOOGL. Aire Advisors LLC grew its stake in shares of Alphabet by 0.6% in the fourth quarter. Aire Advisors LLC now owns 11,772 shares of the information services provider’s stock valued at $1,645,000 after acquiring an additional 68 shares in the last quarter. Defined Wealth Management LLC grew its stake in shares of Alphabet by 2.9% in the fourth quarter. Defined Wealth Management LLC now owns 2,531 shares of the information services provider’s stock valued at $354,000 after acquiring an additional 71 shares in the last quarter. WealthCare Investment Partners LLC grew its stake in shares of 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 in the last quarter. Peoples Financial Services CORP. grew its stake in shares of 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 in the last quarter. Finally, RAM Investment Partners LLC grew its stake in shares of Alphabet by 1.0% in the fourth quarter. RAM Investment Partners LLC now owns 7,550 shares of the information services provider’s stock valued at $1,055,000 after acquiring an additional 73 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Rosenblatt Securities upped their price target on shares of Alphabet from $172.00 to $182.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Truist Financial upped their price target on shares of Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Citigroup upped their price objective on shares of Alphabet from $168.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Stifel Nicolaus upped their price objective on shares of Alphabet from $174.00 to $196.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Finally, Susquehanna upped their price objective on shares of Alphabet from $170.00 to $225.00 and gave the stock a “positive” rating in a research report on Monday. Five analysts have rated the stock with a hold rating, thirty have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $190.60.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $166.80, for a total transaction of $3,753,000.00. Following the completion of the sale, the chief executive officer now owns 2,280,511 shares of the company’s stock, valued at approximately $380,389,234.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Alphabet news, SVP Prabhakar Raghavan sold 3,258 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $155.97, for a total transaction of $508,150.26. Following the completion of the sale, the senior vice president now owns 144,685 shares of the company’s stock, valued at approximately $22,566,519.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $166.80, for a total transaction of $3,753,000.00. Following the sale, the chief executive officer now directly owns 2,280,511 shares of the company’s stock, valued at approximately $380,389,234.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 275,129 shares of company stock valued at $40,382,765. 0.88% of the stock is currently owned by company insiders.

Alphabet Stock Performance

Alphabet stock opened at $163.86 on Thursday. The business has a 50 day moving average of $149.22 and a 200-day moving average of $141.95. Alphabet Inc. has a 1 year low of $103.71 and a 1 year high of $174.71. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.10. The company has a market capitalization of $2.04 trillion, a P/E ratio of 25.13, a P/E/G ratio of 1.29 and a beta of 1.05.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter in the prior year, the firm posted $1.17 earnings per share. On average, equities research analysts predict that Alphabet Inc. will post 7.49 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 10th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend is Monday, June 10th.

About Alphabet

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.