International Assets Investment Management LLC Lowers Position in Alphabet Inc. (NASDAQ:GOOGL)

International Assets Investment Management LLC reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 64.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,982 shares of the information services provider’s stock after selling 70,055 shares during the period. International Assets Investment Management LLC’s holdings in Alphabet were worth $5,445,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in GOOGL. FMR LLC boosted its holdings in 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. Northern Trust Corp increased its stake in Alphabet by 3.7% in the 3rd quarter. Northern Trust Corp now owns 67,684,197 shares of the information services provider’s stock valued at $8,857,154,000 after purchasing an additional 2,416,328 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Alphabet by 1.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 34,035,275 shares of the information services provider’s stock valued at $4,453,856,000 after purchasing an additional 335,219 shares in the last quarter. American Century Companies Inc. raised its holdings in Alphabet by 7.8% during the third quarter. American Century Companies Inc. now owns 25,064,614 shares of the information services provider’s stock worth $3,279,955,000 after purchasing an additional 1,809,910 shares during the last quarter. Finally, Jennison Associates LLC boosted its position in Alphabet by 9.3% during the third quarter. Jennison Associates LLC now owns 24,145,417 shares of the information services provider’s stock worth $3,159,669,000 after purchasing an additional 2,058,221 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $171.25 on Wednesday. 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 $105.16 and a 1-year high of $174.71. The company has a market capitalization of $2.12 trillion, a price-to-earnings ratio of 26.27, a PEG ratio of 1.28 and a beta of 1.02. The business has a 50-day moving average of $151.40 and a 200-day moving average of $142.83.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. The firm had revenue of $80.54 billion for the quarter, compared to analyst estimates of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same quarter in the previous year, the business posted $1.17 EPS. On average, equities analysts anticipate that Alphabet Inc. will post 7.57 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Monday, June 10th.

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 300 shares of Alphabet stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $139.51, for a total value of $41,853.00. Following the completion of the transaction, the director now owns 9,291 shares in the company, valued at approximately $1,296,187.41. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director John L. Hennessy sold 800 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $149.73, for a total transaction of $119,784.00. Following the completion of the sale, the director now owns 7,164 shares of the company’s stock, valued at approximately $1,072,665.72. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John L. Hennessy sold 300 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $139.51, for a total transaction of $41,853.00. Following the sale, the director now directly owns 9,291 shares of the company’s stock, valued at approximately $1,296,187.41. The disclosure for this sale can be found here. Insiders have sold 252,629 shares of company stock worth $37,091,240 over the last quarter. 0.88% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on GOOGL shares. Argus lifted their price target on Alphabet from $170.00 to $200.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Evercore ISI lifted their target price on shares of Alphabet from $160.00 to $220.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Jefferies Financial Group increased their price target on shares of Alphabet from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Roth Mkm lifted their price objective on Alphabet from $164.00 to $202.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Finally, Oppenheimer increased their target price on Alphabet from $185.00 to $205.00 and gave the company an “outperform” rating in a report on Friday, April 26th. Five equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Alphabet currently has an average rating of “Moderate Buy” and a consensus price target of $190.60.

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.