Alphabet Inc. (NASDAQ:GOOGL) Position Reduced by Capital Group Private Client Services Inc.

Capital Group Private Client Services Inc. decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,299,724 shares of the information services provider’s stock after selling 9,795 shares during the quarter. Alphabet accounts for approximately 2.3% of Capital Group Private Client Services Inc.’s portfolio, making the stock its 8th largest holding. Capital Group Private Client Services Inc.’s holdings in Alphabet were worth $246,038,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Capital International Investors increased its stake in shares of Alphabet by 5.7% in the 4th quarter. Capital International Investors now owns 33,183,489 shares of the information services provider’s stock valued at $6,281,879,000 after purchasing an additional 1,779,031 shares in the last quarter. 1492 Capital Management LLC acquired a new stake in Alphabet in the fourth quarter valued at approximately $285,000. Alexis Investment Partners LLC purchased a new stake in shares of Alphabet in the fourth quarter valued at approximately $617,000. Allred Capital Management LLC raised its stake in shares of Alphabet by 1.2% during the 4th quarter. Allred Capital Management LLC now owns 19,677 shares of the information services provider’s stock worth $3,725,000 after buying an additional 230 shares during the period. Finally, Alpha DNA Investment Management LLC raised its stake in shares of Alphabet by 92.6% during the 4th quarter. Alpha DNA Investment Management LLC now owns 11,381 shares of the information services provider’s stock worth $2,154,000 after buying an additional 5,473 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alphabet

In other news, Director John L. Hennessy sold 200 shares of the company’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $165.53, for a total transaction of $33,106.00. Following the completion of the transaction, the director now directly owns 7,813 shares of the company’s stock, valued at approximately $1,293,285.89. This represents a 2.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $156.16, for a total value of $5,075,200.00. Following the completion of the transaction, the chief executive officer now owns 2,685,196 shares in the company, valued at approximately $419,320,207.36. The trade was a 1.20 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 148,163 shares of company stock valued at $25,361,647. Insiders own 11.55% of the company’s stock.

Alphabet Stock Down 1.5 %

Shares of NASDAQ GOOGL opened at $151.08 on Friday. The stock has a market cap of $1.84 trillion, a P/E ratio of 18.77, a PEG ratio of 1.34 and a beta of 1.03. The business’s fifty day simple moving average is $165.14 and its 200-day simple moving average is $175.84. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03.

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

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is presently 9.94%.

Analyst Upgrades and Downgrades

GOOGL has been the subject of several recent analyst reports. Morgan Stanley cut their price target on shares of Alphabet from $210.00 to $185.00 and set an “overweight” rating for the company in a report on Thursday. Jefferies Financial Group cut their target price on shares of Alphabet from $235.00 to $200.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Needham & Company LLC reaffirmed a “buy” rating and issued a $178.00 price target on shares of Alphabet in a research note on Wednesday. Truist Financial lowered their price objective on Alphabet from $220.00 to $200.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Citizens Jmp cut Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and a consensus target price of $200.74.

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.