Independent Family Office LLC Cuts Stake in Alphabet Inc. (NASDAQ:GOOGL)

Independent Family Office LLC cut its stake in Alphabet Inc. (NASDAQ:GOOGL) by 6.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,463 shares of the information services provider’s stock after selling 180 shares during the period. Independent Family Office LLC’s holdings in Alphabet were worth $500,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Compass Planning Associates Inc acquired a new position in Alphabet during the fourth quarter valued at approximately $30,000. LMR Partners LLP purchased a new position in shares of Alphabet in the 3rd quarter valued at $32,000. E Fund Management Hong Kong Co. Ltd. lifted its holdings in shares of Alphabet by 518.8% during the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock valued at $37,000 after acquiring an additional 166 shares in the last quarter. Fiduciary Advisors Inc. purchased a new stake in Alphabet during the 4th quarter worth $39,000. Finally, PayPay Securities Corp increased its holdings in Alphabet by 36.1% in the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after purchasing an additional 65 shares in the last quarter. 40.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Kavitark Ram Shriram sold 29,066 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $184.89, for a total transaction of $5,374,012.74. Following the completion of the transaction, the director now owns 272,466 shares of the company’s stock, valued at approximately $50,376,238.74. The trade was a 9.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Kent Walker sold 11,764 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $166.84, for a total transaction of $1,962,705.76. Following the transaction, the insider now owns 49,037 shares of the company’s stock, valued at approximately $8,181,333.08. This represents a 19.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 104,812 shares of company stock worth $19,336,979. 11.55% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of recent analyst reports. Bank of America reiterated a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a report on Monday, December 23rd. Wells Fargo & Company increased their price target on Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. The Goldman Sachs Group restated a “buy” rating and set a $210.00 price objective on shares of Alphabet in a report on Thursday, December 12th. Cantor Fitzgerald reiterated a “neutral” rating and set a $200.00 target price on shares of Alphabet in a research note on Wednesday, March 19th. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $205.00 price target on shares of Alphabet in a research note on Wednesday, March 19th. Ten research 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 MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $210.59.

Alphabet Trading Down 4.9 %

Shares of NASDAQ:GOOGL opened at $154.33 on Friday. The stock has a market cap of $1.88 trillion, a PE ratio of 19.17, a P/E/G ratio of 1.34 and a beta of 1.02. 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 $147.22 and a 12-month high of $207.05. The business has a 50 day moving average of $179.66 and a 200-day moving average of $176.92.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. As a group, equities research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.52%. Alphabet’s dividend payout ratio is presently 9.94%.

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.