Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Cannell & Spears LLC

Cannell & Spears LLC reduced its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 10.7% during the 4th quarter, Holdings Channel reports. The fund owned 419,353 shares of the information services provider’s stock after selling 50,232 shares during the quarter. Alphabet makes up approximately 1.6% of Cannell & Spears LLC’s portfolio, making the stock its 10th biggest position. Cannell & Spears LLC’s holdings in Alphabet were worth $79,384,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Compass Planning Associates Inc acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $30,000. E Fund Management Hong Kong Co. Ltd. raised its position in shares of Alphabet by 518.8% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock worth $37,000 after acquiring an additional 166 shares during the last quarter. Fiduciary Advisors Inc. acquired a new position in shares of Alphabet during the fourth quarter valued at $39,000. PayPay Securities Corp boosted its holdings in Alphabet by 36.1% in the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after acquiring an additional 65 shares during the last quarter. Finally, Prudent Man Investment Management Inc. acquired a new stake in Alphabet in the fourth quarter worth about $53,000. Institutional investors own 40.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on GOOGL shares. Wedbush upped their target price on shares of Alphabet from $210.00 to $220.00 and gave the company an “outperform” rating in a research report on Monday, January 6th. JPMorgan Chase & Co. reduced their price objective on shares of Alphabet from $220.00 to $180.00 and set an “overweight” rating on the stock in a research note on Tuesday. Citizens Jmp cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Cantor Fitzgerald restated a “neutral” rating and issued a $200.00 price target on shares of Alphabet in a research report on Wednesday, March 19th. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $205.00 price objective on shares of Alphabet in a research note on Tuesday, December 10th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and five have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $208.10.

Alphabet Stock Performance

Shares of GOOGL stock opened at $144.70 on Wednesday. The company has a fifty day moving average price of $172.22 and a two-hundred day moving average price of $176.46. Alphabet Inc. has a one year low of $140.53 and a one year high of $207.05. The stock has a market cap of $1.76 trillion, a P/E ratio of 17.98, a P/E/G ratio of 1.34 and a beta of 1.03. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating 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%. As a group, equities analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 10th were paid 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%.

Insider Buying and Selling at Alphabet

In other Alphabet 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 transaction, the director now directly owns 21,824 shares of the company’s stock, valued at $4,142,195.20. This represents a 6.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 2,834 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $194.32, for a total value of $550,702.88. Following the sale, the chief accounting officer now owns 17,847 shares of the company’s stock, valued at approximately $3,468,029.04. This represents a 13.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 119,797 shares of company stock valued at $21,089,470 in the last quarter. 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.