Grassi Investment Management Has $9.94 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Grassi Investment Management lessened its stake in Alphabet Inc. (NASDAQ:GOOGL) by 5.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 52,495 shares of the information services provider’s stock after selling 3,050 shares during the quarter. Grassi Investment Management’s holdings in Alphabet were worth $9,937,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in GOOGL. International Assets Investment Management LLC boosted its holdings in shares of Alphabet by 43,005.6% in the third quarter. International Assets Investment Management LLC now owns 18,743,594 shares of the information services provider’s stock valued at $31,086,250,000 after buying an additional 18,700,111 shares during the period. SG Americas Securities LLC lifted its position in shares of Alphabet by 587.4% in the third quarter. SG Americas Securities LLC now owns 10,690,326 shares of the information services provider’s stock worth $1,772,991,000 after purchasing an additional 9,135,056 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Alphabet by 116.4% in the third quarter. Assenagon Asset Management S.A. now owns 8,670,225 shares of the information services provider’s stock worth $1,437,957,000 after purchasing an additional 4,662,809 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Alphabet by 7.7% in 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 purchasing an additional 4,567,275 shares in the last quarter. Finally, Wulff Hansen & CO. lifted its position in shares of Alphabet by 18,810.2% in the second quarter. Wulff Hansen & CO. now owns 4,434,260 shares of the information services provider’s stock worth $807,700,000 after purchasing an additional 4,410,811 shares in the last quarter. Institutional investors and hedge funds own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GOOGL. Wells Fargo & Company boosted their price objective on shares of Alphabet from $187.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Monday. JMP Securities reissued a “market perform” rating on shares of Alphabet in a research report on Friday. Evercore ISI boosted their price objective on shares of Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. China Renaissance raised shares of Alphabet from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $210.00 price target (up from $200.00) on shares of Alphabet in a research report on Wednesday, October 30th. Nine equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $208.15.

Insider Transactions at Alphabet

In other news, Director John L. Hennessy sold 1,500 shares of the stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $189.80, for a total value of $284,700.00. Following the completion of the transaction, the director now owns 21,824 shares of the company’s stock, valued at approximately $4,142,195.20. This represents a 6.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 2,834 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $197.55, for a total transaction of $559,856.70. Following the completion of the transaction, the chief accounting officer now owns 20,681 shares of the company’s stock, valued at approximately $4,085,531.55. This trade represents a 12.05 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 153,053 shares of company stock valued at $27,559,701. 11.55% of the stock is currently owned by insiders.

Alphabet Trading Down 0.5 %

Shares of Alphabet stock opened at $191.01 on Tuesday. The company has a market capitalization of $2.34 trillion, a price-to-earnings ratio of 25.33, a PEG ratio of 1.35 and a beta of 0.98. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04. Alphabet Inc. has a 12-month low of $130.66 and a 12-month high of $201.42. The firm’s 50-day moving average price is $183.05 and its two-hundred day moving average price is $172.99.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same period in the prior year, the company posted $1.55 earnings per share. On average, analysts forecast that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.42%. Alphabet’s dividend payout ratio (DPR) is currently 10.61%.

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.