Old Port Advisors Sells 130 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Old Port Advisors lessened its stake in Alphabet Inc. (NASDAQ:GOOGL) by 0.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,335 shares of the information services provider’s stock after selling 130 shares during the quarter. Alphabet makes up approximately 0.9% of Old Port Advisors’ portfolio, making the stock its 29th biggest holding. Old Port Advisors’ holdings in Alphabet were worth $3,092,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of GOOGL. Christopher J. Hasenberg Inc boosted its holdings in Alphabet by 75.0% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 140 shares of the information services provider’s stock worth $26,000 after buying an additional 60 shares during the period. LMR Partners LLP purchased a new stake in shares of Alphabet during the third quarter worth $32,000. Kings Path Partners LLC bought a new position in shares of Alphabet in the second quarter worth $36,000. Denver PWM LLC purchased a new position in shares of Alphabet in the second quarter valued at $41,000. Finally, Quarry LP purchased a new position in shares of Alphabet in the second quarter valued at $53,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Up 0.5 %

Alphabet stock traded up $1.01 during trading hours on Thursday, hitting $190.31. 6,697,755 shares of the stock traded hands, compared to its average volume of 27,460,176. Alphabet Inc. has a one year low of $130.66 and a one year high of $201.42. The firm’s 50-day moving average price is $179.17 and its two-hundred day moving average price is $172.28. 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 market cap of $2.33 trillion, a PE ratio of 25.24, a PEG ratio of 1.39 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter in the previous year, the business posted $1.55 EPS. On average, research analysts forecast that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s dividend payout ratio (DPR) is 10.61%.

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $194.22, for a total value of $291,330.00. Following the completion of the transaction, the director now owns 23,324 shares in the company, valued at $4,529,987.28. The trade was a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Amie Thuener O’toole sold 2,834 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $197.55, for a total value of $559,856.70. Following the transaction, the chief accounting officer now directly owns 20,681 shares in the company, valued at approximately $4,085,531.55. The trade was a 12.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 137,588 shares of company stock valued at $24,473,081. Insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the subject of several recent analyst reports. BMO Capital Markets reaffirmed an “outperform” rating and set a $217.00 price objective (up previously from $215.00) on shares of Alphabet in a research note on Wednesday, October 30th. China Renaissance upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. KeyCorp upped their price target on shares of Alphabet from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Sanford C. Bernstein lifted their price objective on Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Finally, Evercore ISI boosted their target price on Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Eight analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $206.69.

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.