Pallas Capital Advisors LLC Sells 2,550 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Pallas Capital Advisors LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.4% in the fourth quarter, HoldingsChannel reports. The firm owned 174,283 shares of the information services provider’s stock after selling 2,550 shares during the period. Alphabet makes up about 1.4% of Pallas Capital Advisors LLC’s portfolio, making the stock its 7th biggest holding. Pallas Capital Advisors LLC’s holdings in Alphabet were worth $32,992,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GOOGL. LMR Partners LLP purchased a new stake in shares of Alphabet during the third quarter worth about $32,000. Denver PWM LLC acquired a new stake in Alphabet during the second quarter worth approximately $41,000. Quarry LP purchased a new stake in Alphabet in the 2nd quarter worth approximately $53,000. Teachers Insurance & Annuity Association of America acquired a new position in Alphabet in the 3rd quarter valued at $66,000. Finally, Mendota Financial Group LLC lifted its stake in shares of Alphabet by 19.0% during the 3rd quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock worth $67,000 after purchasing an additional 64 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on GOOGL. Cantor Fitzgerald reiterated a “neutral” rating and issued a $190.00 target price on shares of Alphabet in a research note on Wednesday, October 30th. Sanford C. Bernstein increased their price objective on shares of Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. Tigress Financial boosted their target price on shares of Alphabet from $210.00 to $220.00 and gave the company a “strong-buy” rating in a report on Thursday, September 26th. JPMorgan Chase & Co. increased their price target on shares of Alphabet from $212.00 to $232.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 18th. Finally, Wells Fargo & Company lifted their price target on shares of Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a report on Monday. Nine investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $208.15.

Alphabet Stock Performance

Shares of Alphabet stock opened at $191.01 on Tuesday. The firm has a market cap of $2.34 trillion, a PE ratio of 25.33, a price-to-earnings-growth ratio of 1.35 and a beta of 0.98. Alphabet Inc. has a 1 year low of $130.66 and a 1 year high of $201.42. The firm’s 50-day simple moving average is $183.05 and its 200-day simple moving average is $172.99. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95.

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, beating the consensus estimate of $1.83 by $0.29. The firm had revenue of $88.27 billion for the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter in the prior year, the firm posted $1.55 earnings per share. Equities analysts forecast that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date was Monday, December 9th. Alphabet’s dividend payout ratio is presently 10.61%.

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $171.42, for a total transaction of $234,331.14. Following the completion of the transaction, the chief accounting officer now owns 26,349 shares in the company, valued at $4,516,745.58. The trade was a 4.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John L. Hennessy sold 1,500 shares of the stock in a transaction on Monday, January 13th. The stock was sold at an average price of $189.80, for a total value of $284,700.00. Following the completion of the sale, the director now directly owns 21,824 shares in the company, valued at $4,142,195.20. This represents a 6.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 153,053 shares of company stock worth $27,559,701 over the last 90 days. Insiders own 11.55% of the company’s stock.

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.