Northcape Wealth Management LLC Sells 160 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Northcape Wealth Management LLC lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 10.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,330 shares of the information services provider’s stock after selling 160 shares during the quarter. Northcape Wealth Management LLC’s holdings in Alphabet were worth $252,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. State Street Corp boosted its position in shares of Alphabet by 0.3% during the 3rd quarter. State Street Corp now owns 222,555,548 shares of the information services provider’s stock worth $36,910,838,000 after acquiring an additional 743,369 shares in the last quarter. Geode Capital Management LLC boosted its stake in Alphabet by 2.0% in the third quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock valued at $22,154,651,000 after buying an additional 2,626,431 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Alphabet by 7.7% during the third quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock worth $10,559,240,000 after acquiring an additional 4,567,275 shares in the last quarter. Fisher Asset Management LLC boosted its stake in shares of Alphabet by 2.5% in the 3rd quarter. Fisher Asset Management LLC now owns 49,857,900 shares of the information services provider’s stock valued at $8,268,933,000 after purchasing an additional 1,237,385 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Alphabet by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 37,233,079 shares of the information services provider’s stock valued at $6,175,106,000 after purchasing an additional 523,416 shares during the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

GOOGL has been the subject of several research analyst reports. Stifel Nicolaus upped their price target on shares of Alphabet from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Morgan Stanley cut their price target on Alphabet from $215.00 to $210.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. Loop Capital raised their price objective on shares of Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. Citigroup cut their price target on shares of Alphabet from $232.00 to $229.00 and set a “buy” rating on the stock in a report on Wednesday, February 5th. Finally, JPMorgan Chase & Co. decreased their price target on Alphabet from $232.00 to $220.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $210.62.

Insider Buying and Selling

In other Alphabet news, insider Ruth Porat sold 17,690 shares of Alphabet stock in a transaction on Friday, February 21st. The shares were sold at an average price of $183.48, for a total value of $3,245,761.20. Following the sale, the insider now directly owns 1,449,286 shares in the company, valued at approximately $265,914,995.28. The trade was a 1.21 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kavitark Ram Shriram sold 37,134 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total value of $6,870,532.68. Following the transaction, the director now owns 282,832 shares of the company’s stock, valued at $52,329,576.64. This represents a 11.61 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 132,942 shares of company stock valued at $24,824,539. 11.55% of the stock is owned by corporate insiders.

Alphabet Stock Performance

Shares of GOOGL opened at $170.33 on Monday. The company has a market cap of $2.08 trillion, a price-to-earnings ratio of 21.16, a P/E/G ratio of 1.34 and a beta of 0.99. The company has a current ratio of 1.84, a quick 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 business’s fifty day simple moving average is $190.58 and its two-hundred day simple moving average is $176.31.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share 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%. Research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 10th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date is Monday, March 10th. Alphabet’s payout ratio is 9.94%.

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.