Laird Norton Wetherby Wealth Management LLC Has $42.27 Million Stake in Alphabet Inc. (NASDAQ:GOOGL)

Laird Norton Wetherby Wealth Management LLC cut its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 223,269 shares of the information services provider’s stock after selling 12,942 shares during the quarter. Alphabet accounts for about 2.0% of Laird Norton Wetherby Wealth Management LLC’s portfolio, making the stock its 6th biggest holding. Laird Norton Wetherby Wealth Management LLC’s holdings in Alphabet were worth $42,265,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of GOOGL. Lighthouse Investment Partners LLC acquired a new position in Alphabet during the fourth quarter valued at approximately $1,704,000. Lionshead Wealth Management LLC acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $234,000. Investment Management Corp of Ontario lifted its position in shares of Alphabet by 46.6% in the fourth quarter. Investment Management Corp of Ontario now owns 450,759 shares of the information services provider’s stock valued at $85,329,000 after buying an additional 143,229 shares during the last quarter. Investor s Fiduciary Advisor Network LLC acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $593,000. Finally, J. Goldman & Co LP lifted its position in shares of Alphabet by 295.6% in the fourth quarter. J. Goldman & Co LP now owns 4,499 shares of the information services provider’s stock valued at $852,000 after buying an additional 6,799 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Alphabet Trading Down 1.0%

Shares of GOOGL stock opened at $152.75 on Monday. The stock’s fifty day moving average price is $158.93 and its two-hundred day moving average price is $175.27. The company has a market cap of $1.85 trillion, a PE ratio of 18.98, a P/E/G ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The company had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter last year, the business posted $1.89 EPS. Equities analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be issued a dividend of $0.21 per share. The ex-dividend date is Monday, June 9th. This is an increase from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.55%. Alphabet’s payout ratio is presently 9.36%.

Wall Street Analyst Weigh In

GOOGL has been the subject of a number of recent analyst reports. Rosenblatt Securities cut their price objective on Alphabet from $205.00 to $189.00 and set a “neutral” rating for the company in a research report on Friday, April 25th. Mizuho cut their price objective on Alphabet from $230.00 to $205.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Truist Financial cut their price objective on Alphabet from $220.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Bank of America increased their target price on Alphabet from $185.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, April 25th. Finally, DZ Bank lowered Alphabet from a “buy” rating to a “hold” rating and set a $198.00 target price on the stock. in a research note on Thursday, February 6th. Ten investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $199.75.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $155.90, for a total value of $5,066,750.00. Following the completion of the sale, the chief executive officer now directly owns 2,652,696 shares of the company’s stock, valued at $413,555,306.40. The trade was a 1.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 673 shares of the business’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total value of $104,537.09. Following the completion of the sale, the chief accounting officer now directly owns 15,303 shares of the company’s stock, valued at $2,377,014.99. The trade was a 4.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 179,324 shares of company stock valued at $30,153,353. 11.64% of the stock is currently owned by company insiders.

Alphabet Company 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.