Choreo LLC Cuts Stake in Alphabet Inc. (NASDAQ:GOOGL)

Choreo LLC lessened its stake in Alphabet Inc. (NASDAQ:GOOGL) by 5.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 237,899 shares of the information services provider’s stock after selling 13,480 shares during the period. Choreo LLC’s holdings in Alphabet were worth $36,789,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of GOOGL. Norges Bank purchased a new position in shares of Alphabet during the 4th quarter worth approximately $24,383,677,000. FMR LLC raised its holdings in Alphabet by 9.8% in the fourth quarter. FMR LLC now owns 248,416,916 shares of the information services provider’s stock worth $47,025,322,000 after purchasing an additional 22,100,902 shares in the last quarter. GAMMA Investing LLC raised its holdings in Alphabet by 16,993.2% in the first quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider’s stock worth $2,483,898,000 after purchasing an additional 15,968,487 shares in the last quarter. Northern Trust Corp raised its holdings in Alphabet by 17.0% in the fourth quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider’s stock worth $13,178,470,000 after purchasing an additional 10,135,430 shares in the last quarter. Finally, Capital Research Global Investors raised its holdings in Alphabet by 16.2% in the fourth quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider’s stock worth $13,635,878,000 after purchasing an additional 10,037,685 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on GOOGL shares. BNP Paribas downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, June 26th. Barclays raised their price target on Alphabet from $220.00 to $235.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Mizuho reduced their price target on Alphabet from $230.00 to $205.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. JMP Securities upped their price objective on Alphabet from $220.00 to $225.00 and gave the company a “market outperform” rating in a research report on Thursday, July 24th. Finally, Oppenheimer upped their price objective on Alphabet from $185.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, April 25th. Ten research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $211.32.

Alphabet Trading Down 0.3%

GOOGL stock opened at $192.58 on Tuesday. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. The firm has a market cap of $2.34 trillion, a PE ratio of 20.51, a price-to-earnings-growth ratio of 1.31 and a beta of 1.00. The firm has a fifty day moving average price of $176.29 and a 200 day moving average price of $172.79. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.90 and a current ratio of 1.90.

Alphabet Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Monday, September 8th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, September 8th. This represents a $0.84 annualized dividend and a dividend yield of 0.44%. Alphabet’s dividend payout ratio (DPR) is 8.95%.

Insider Transactions at Alphabet

In other news, Director Kavitark Ram Shriram sold 18,566 shares of the firm’s stock in a transaction on Friday, July 18th. The stock was sold at an average price of $185.76, for a total transaction of $3,448,820.16. Following the transaction, the director owned 243,400 shares in the company, valued at approximately $45,213,984. This trade represents a 7.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John L. Hennessy sold 400 shares of Alphabet stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $181.98, for a total transaction of $72,792.00. Following the transaction, the director directly owned 6,013 shares in the company, valued at approximately $1,094,245.74. The trade was a 6.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 249,409 shares of company stock worth $43,523,710. 11.55% of the stock is currently owned by insiders.

About Alphabet

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.