Sit Investment Associates Inc. Has $52.24 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Sit Investment Associates Inc. lessened its stake in Alphabet Inc. (NASDAQ:GOOGL) by 7.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 275,963 shares of the information services provider’s stock after selling 23,271 shares during the quarter. Alphabet comprises approximately 1.2% of Sit Investment Associates Inc.’s investment portfolio, making the stock its 14th biggest holding. Sit Investment Associates Inc.’s holdings in Alphabet were worth $52,240,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Compass Planning Associates Inc bought a new position in Alphabet in the fourth quarter valued at approximately $30,000. E Fund Management Hong Kong Co. Ltd. lifted its stake in shares of Alphabet by 518.8% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock valued at $37,000 after purchasing an additional 166 shares during the period. Fiduciary Advisors Inc. bought a new position in shares of Alphabet in the 4th quarter worth $39,000. PayPay Securities Corp grew its stake in shares of Alphabet by 36.1% during the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after purchasing an additional 65 shares during the period. Finally, Denver PWM LLC increased its holdings in Alphabet by 25.4% in the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock valued at $47,000 after purchasing an additional 57 shares during the last quarter. 40.03% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 200 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the transaction, the director now owns 7,813 shares in the company, valued at $1,293,285.89. This represents a 2.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 2,834 shares of the firm’s stock in a transaction 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 transaction, the chief accounting officer now owns 17,847 shares in the company, valued at approximately $3,468,029.04. This trade 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 worth $21,089,470 over the last three months. Insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

GOOGL opened at $157.14 on Friday. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The stock has a market cap of $1.92 trillion, a price-to-earnings ratio of 19.52, a PEG ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05. The business has a 50 day moving average of $168.52 and a 200-day moving average of $176.22.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 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%. On average, equities research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were issued a $0.20 dividend. The ex-dividend date was Monday, March 10th. This represents a $0.80 annualized dividend and a yield of 0.51%. Alphabet’s dividend payout ratio is currently 9.94%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on GOOGL shares. Mizuho decreased their target price on Alphabet from $230.00 to $205.00 and set an “outperform” rating for the company in a research report on Wednesday. Citigroup decreased their price objective on shares of Alphabet from $229.00 to $195.00 and set a “buy” rating for the company in a report on Thursday. Wolfe Research upped their target price on shares of Alphabet from $220.00 to $230.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Needham & Company LLC reissued a “buy” rating and set a $225.00 price target on shares of Alphabet in a research report on Wednesday, February 5th. Finally, Bank of America restated a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a research report on Monday, December 23rd. Ten investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and five have issued a strong buy rating to the stock. According to MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average price target of $206.51.

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.