Mitsubishi UFJ Trust & Banking Corp Sells 152,377 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Mitsubishi UFJ Trust & Banking Corp lowered its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 3,833,270 shares of the information services provider’s stock after selling 152,377 shares during the quarter. Alphabet accounts for 1.7% of Mitsubishi UFJ Trust & Banking Corp’s holdings, making the stock its 6th biggest position. Mitsubishi UFJ Trust & Banking Corp’s holdings in Alphabet were worth $725,638,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Community Bank N.A. boosted its stake in Alphabet by 6.4% in the fourth quarter. Community Bank N.A. now owns 46,173 shares of the information services provider’s stock valued at $8,741,000 after acquiring an additional 2,790 shares during the last quarter. Absolute Capital Management LLC raised its holdings in shares of Alphabet by 14.0% in the 4th quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider’s stock worth $401,000 after purchasing an additional 258 shares during the period. Permanent Capital Management LP purchased a new position in Alphabet in the fourth quarter valued at approximately $273,000. Glass Wealth Management Co LLC increased its position in Alphabet by 4.5% in the fourth quarter. Glass Wealth Management Co LLC now owns 37,054 shares of the information services provider’s stock worth $7,014,000 after buying an additional 1,580 shares during the last quarter. Finally, Olistico Wealth LLC increased its position in Alphabet by 9.1% in the fourth quarter. Olistico Wealth LLC now owns 8,981 shares of the information services provider’s stock worth $1,700,000 after buying an additional 746 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Stock Down 3.4 %

GOOGL opened at $145.60 on Friday. Alphabet Inc. has a 12 month low of $145.38 and a 12 month high of $207.05. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The business’s 50-day moving average price is $175.15 and its 200-day moving average price is $176.68. The company has a market cap of $1.77 trillion, a P/E ratio of 18.09, a P/E/G ratio of 1.34 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last announced 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 return on equity of 32.49% and a net margin of 28.60%. On average, equities analysts expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date was Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Analyst Upgrades and Downgrades

GOOGL has been the subject of several research reports. Westpark Capital upgraded Alphabet to a “strong-buy” rating in a research note on Tuesday. Roth Mkm reiterated a “buy” rating and set a $220.00 target price on shares of Alphabet in a research report on Wednesday, March 19th. Stifel Nicolaus boosted their price target on shares of Alphabet from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, January 13th. JMP Securities reaffirmed a “market perform” rating on shares of Alphabet in a report on Wednesday, February 5th. Finally, 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. Ten investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and five have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $209.13.

Insider Buying and Selling at Alphabet

In other Alphabet news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total value of $5,153,200.00. Following the completion of the sale, the chief executive officer now directly owns 2,717,696 shares in the company, valued at $430,917,877.76. This trade represents a 1.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider John Kent Walker sold 17,690 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $185.51, for a total value of $3,281,671.90. Following the completion of the transaction, the insider now owns 43,111 shares of the company’s stock, valued at approximately $7,997,521.61. The trade was a 29.09 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 119,797 shares of company stock worth $21,089,470. 11.55% of the stock is currently owned by company insiders.

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.