Alphabet Inc. (NASDAQ:GOOGL) Stock Position Reduced by Somerville Kurt F

Somerville Kurt F trimmed its position in Alphabet Inc. (NASDAQ:GOOGL) by 1.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 158,841 shares of the information services provider’s stock after selling 2,655 shares during the quarter. Alphabet comprises 5.0% of Somerville Kurt F’s investment portfolio, making the stock its 3rd biggest position. Somerville Kurt F’s holdings in Alphabet were worth $30,069,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in GOOGL. Principal Financial Group Inc. boosted its position in shares of Alphabet by 3.1% during the 3rd quarter. Principal Financial Group Inc. now owns 11,283,594 shares of the information services provider’s stock worth $1,871,384,000 after purchasing an additional 337,031 shares during the period. Semmax Financial Advisors Inc. grew its stake in shares of Alphabet by 10.3% in the third quarter. Semmax Financial Advisors Inc. now owns 28,325 shares of the information services provider’s stock valued at $5,144,000 after buying an additional 2,650 shares in the last quarter. Plotkin Financial Advisors LLC purchased a new stake in shares of Alphabet in the 3rd quarter valued at $892,000. Erste Asset Management GmbH acquired a new position in Alphabet during the 3rd quarter worth about $198,110,000. Finally, B&L Asset Management LLC purchased a new position in Alphabet during the 3rd quarter valued at about $2,980,000. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling

In other news, Director John L. Hennessy sold 1,500 shares of the company’s 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Amie Thuener O’toole sold 2,834 shares of Alphabet stock in a transaction dated 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. Over the last ninety days, insiders sold 119,797 shares of company stock valued at $21,089,470. 11.55% of the stock is owned by insiders.

Analyst Ratings Changes

GOOGL has been the topic of a number of recent research reports. Citizens Jmp lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Mizuho decreased their price target on shares of Alphabet from $230.00 to $205.00 and set an “outperform” rating for the company in a research report on Wednesday. Morgan Stanley cut their price objective on Alphabet from $215.00 to $210.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $200.00 target price on shares of Alphabet in a report on Wednesday, March 19th. Finally, UBS Group set a $190.00 price target on Alphabet in a report on Thursday, March 27th. Ten research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and five have assigned a strong buy rating to the stock. According to data from MarketBeat, Alphabet presently has a consensus rating of “Moderate Buy” and an average price target of $206.51.

Alphabet Price Performance

Shares of GOOGL opened at $157.14 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock’s 50 day moving average is $168.52 and its two-hundred day moving average is $176.22. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The firm has a market capitalization of $1.92 trillion, a PE ratio of 19.52, a P/E/G ratio of 1.34 and a beta of 1.03.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 0.51%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s payout ratio is currently 9.94%.

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.