Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Loring Wolcott & Coolidge Fiduciary Advisors LLP MA

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA trimmed its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 3,058,375 shares of the information services provider’s stock after selling 17,471 shares during the period. Alphabet makes up 5.1% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings, making the stock its 4th largest holding. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Alphabet were worth $586,627,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GOOGL. Orca Investment Management LLC raised its position in shares of Alphabet by 2.1% in the third quarter. Orca Investment Management LLC now owns 17,888 shares of the information services provider’s stock valued at $2,967,000 after buying an additional 366 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Alphabet by 14.0% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 10,509 shares of the information services provider’s stock valued at $1,743,000 after buying an additional 1,288 shares in the last quarter. Accelerate Investment Advisors LLC acquired a new stake in shares of Alphabet in the third quarter valued at approximately $439,000. Procyon Advisors LLC increased its stake in Alphabet by 13.5% in the third quarter. Procyon Advisors LLC now owns 147,294 shares of the information services provider’s stock valued at $24,418,000 after acquiring an additional 17,465 shares during the last quarter. Finally, ORG Wealth Partners LLC bought a new position in Alphabet in the third quarter valued at approximately $464,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of recent analyst reports. Wedbush lifted their price objective on shares of Alphabet from $210.00 to $220.00 and gave the company an “outperform” rating in a research note on Monday, January 6th. DZ Bank cut shares of Alphabet from a “buy” rating to a “hold” rating and set a $198.00 price objective on the stock. in a research note on Thursday, February 6th. Sanford C. Bernstein lifted their price objective on shares of Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Robert W. Baird reissued an “outperform” rating and issued a $205.00 price objective on shares of Alphabet in a research note on Tuesday, December 10th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $225.00 price objective on shares of Alphabet in a research note on Wednesday, February 5th. Ten analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $210.62.

Alphabet Price Performance

GOOGL stock opened at $185.19 on Thursday. The firm has a market cap of $2.26 trillion, a price-to-earnings ratio of 23.01, a PEG ratio of 1.35 and a beta of 0.99. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 12-month low of $130.66 and a 12-month high of $207.05. The company’s fifty day simple moving average is $192.81 and its 200 day simple moving average is $175.49.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. On average, analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be issued a $0.20 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.43%. Alphabet’s payout ratio is 9.94%.

Insider Activity

In other news, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $170.41, for a total transaction of $232,950.47. Following the transaction, the chief accounting officer now owns 23,515 shares in the company, valued at approximately $4,007,191.15. This represents a 5.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $194.22, for a total transaction of $291,330.00. Following the sale, the director now directly owns 23,324 shares of the company’s stock, valued at approximately $4,529,987.28. The trade was a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 98,919 shares of company stock worth $18,528,318. Company insiders own 11.55% of the company’s stock.

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.