Sage Rhino Capital LLC Cuts Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Sage Rhino Capital LLC cut its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,216 shares of the information services provider’s stock after selling 128 shares during the quarter. Sage Rhino Capital LLC’s holdings in Alphabet were worth $1,567,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GOOGL. Kathleen S. Wright Associates Inc. boosted its holdings in Alphabet by 2.4% during the third quarter. Kathleen S. Wright Associates Inc. now owns 10,560 shares of the information services provider’s stock worth $1,382,000 after purchasing an additional 250 shares during the last quarter. PDS Planning Inc boosted its holdings in Alphabet by 2.6% during the third quarter. PDS Planning Inc now owns 27,483 shares of the information services provider’s stock worth $3,596,000 after purchasing an additional 705 shares during the last quarter. Trinity Street Asset Management LLP boosted its stake in Alphabet by 2.9% in the third quarter. Trinity Street Asset Management LLP now owns 180,769 shares of the information services provider’s stock valued at $23,655,000 after acquiring an additional 5,088 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in Alphabet by 1.8% in the third quarter. Commonwealth Equity Services LLC now owns 2,528,818 shares of the information services provider’s stock valued at $330,921,000 after acquiring an additional 45,323 shares during the last quarter. Finally, FAS Wealth Partners Inc. boosted its stake in Alphabet by 2.8% in the third quarter. FAS Wealth Partners Inc. now owns 24,248 shares of the information services provider’s stock valued at $3,173,000 after acquiring an additional 654 shares during the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on GOOGL shares. Redburn Atlantic boosted their target price on shares of Alphabet from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. Raymond James boosted their target price on shares of Alphabet from $160.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. BMO Capital Markets boosted their target price on shares of Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a research note on Friday, April 26th. Susquehanna boosted their price target on shares of Alphabet from $170.00 to $225.00 and gave the company a “positive” rating in a research report on Monday, April 29th. Finally, Mizuho boosted their price target on shares of Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Five research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $190.60.

Alphabet Stock Down 1.1 %

Shares of NASDAQ GOOGL opened at $169.38 on Thursday. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05. Alphabet Inc. has a 12 month low of $107.19 and a 12 month high of $174.71. The firm has a market capitalization of $2.09 trillion, a PE ratio of 25.98, a price-to-earnings-growth ratio of 1.28 and a beta of 1.02. The firm has a fifty day simple moving average of $151.40 and a two-hundred day simple moving average of $142.83.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.40. The company had revenue of $80.54 billion during 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 period last year, the business earned $1.17 EPS. Equities analysts expect that Alphabet Inc. will post 7.57 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be paid a $0.20 dividend. 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 Buying and Selling

In related news, Director John L. Hennessy sold 800 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $149.73, for a total value of $119,784.00. Following the completion of the transaction, the director now directly owns 7,164 shares in the company, valued at approximately $1,072,665.72. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Alphabet news, Director John L. Hennessy sold 800 shares of the firm’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 directly owns 7,164 shares in the company, valued at approximately $1,072,665.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $136.49, for a total transaction of $93,086.18. Following the sale, the chief accounting officer now owns 28,602 shares of the company’s stock, valued at $3,903,886.98. The disclosure for this sale can be found here. Insiders sold a total of 252,629 shares of company stock worth $37,091,240 in the last three months. 0.88% of the stock is owned by corporate insiders.

Alphabet Company 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.