Childress Capital Advisors LLC Has $4.38 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Childress Capital Advisors LLC cut its stake in Alphabet Inc. (NASDAQ:GOOGL) by 11.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 23,160 shares of the information services provider’s stock after selling 2,899 shares during the quarter. Alphabet makes up about 1.2% of Childress Capital Advisors LLC’s holdings, making the stock its 21st biggest holding. Childress Capital Advisors LLC’s holdings in Alphabet were worth $4,384,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. LMR Partners LLP acquired a new position in Alphabet in the third quarter valued at about $32,000. E Fund Management Hong Kong Co. Ltd. raised its stake in shares of Alphabet by 518.8% in the fourth 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 during the last quarter. Fiduciary Advisors Inc. acquired a new position in shares of Alphabet in the 4th quarter worth approximately $39,000. Denver PWM LLC grew its position in Alphabet by 25.4% during the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after acquiring an additional 57 shares during the last quarter. Finally, Teachers Insurance & Annuity Association of America bought a new stake in Alphabet during the 3rd quarter worth approximately $66,000. Institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. KeyCorp lifted their price objective on Alphabet from $215.00 to $225.00 and gave the company an “overweight” rating in a research report on Friday, January 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $225.00 price target on shares of Alphabet in a report on Wednesday, February 5th. BMO Capital Markets reissued an “outperform” rating and set a $217.00 price objective (up previously from $215.00) on shares of Alphabet in a report on Wednesday, October 30th. Cantor Fitzgerald lowered their price objective on shares of Alphabet from $215.00 to $210.00 and set a “neutral” rating for the company in a research report on Wednesday, January 22nd. Finally, China Renaissance upgraded shares of Alphabet from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Ten investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $210.62.

Insider Activity at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 37,134 shares of Alphabet stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total value of $6,870,532.68. Following the sale, the director now owns 282,832 shares of the company’s stock, valued at $52,329,576.64. This trade represents a 11.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $170.41, for a total value of $232,950.47. Following the transaction, the chief accounting officer now directly owns 23,515 shares of the company’s stock, valued at $4,007,191.15. This represents a 5.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 89,529 shares of company stock valued at $16,600,078. 11.55% of the stock is owned by corporate insiders.

Alphabet Trading Down 0.9 %

NASDAQ GOOGL opened at $183.61 on Thursday. Alphabet Inc. has a one year low of $130.66 and a one year high of $207.05. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.95. The firm has a market cap of $2.25 trillion, a P/E ratio of 22.81, a P/E/G ratio of 1.39 and a beta of 0.99. The stock’s 50-day moving average is $192.18 and its 200-day moving average is $174.89.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, topping 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%. Sell-side analysts anticipate that Alphabet Inc. will post 8.91 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 10th will be given a $0.20 dividend. The ex-dividend date is Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.44%. Alphabet’s dividend payout ratio is currently 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.