Naman Capital Ltda Cuts Stake in Alphabet Inc. (NASDAQ:GOOGL)

Naman Capital Ltda reduced its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 78.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,800 shares of the information services provider’s stock after selling 60,000 shares during the quarter. Alphabet accounts for 1.9% of Naman Capital Ltda’s portfolio, making the stock its 10th largest position. Naman Capital Ltda’s holdings in Alphabet were worth $3,180,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of GOOGL. Norges Bank acquired a new stake in shares of Alphabet during the fourth quarter worth $24,383,677,000. FMR LLC lifted its stake in Alphabet by 9.8% in the fourth quarter. FMR LLC now owns 248,416,916 shares of the information services provider’s stock valued at $47,025,322,000 after acquiring an additional 22,100,902 shares during the last quarter. Northern Trust Corp increased its stake in shares of Alphabet by 17.0% during the 4th quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider’s stock worth $13,178,470,000 after purchasing an additional 10,135,430 shares during the last quarter. Capital Research Global Investors raised its holdings in shares of Alphabet by 16.2% during the 4th quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider’s stock valued at $13,635,878,000 after purchasing an additional 10,037,685 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Alphabet by 15.9% in the fourth quarter. Wellington Management Group LLP now owns 66,050,135 shares of the information services provider’s stock worth $12,503,291,000 after buying an additional 9,042,271 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Alphabet

In other news, insider John Kent Walker sold 17,690 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $185.51, for a total transaction of $3,281,671.90. Following the completion of the transaction, the insider now directly owns 43,111 shares in the company, valued at $7,997,521.61. This trade represents a 29.09% 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, Director Kavitark Ram Shriram sold 29,066 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $184.89, for a total value of $5,374,012.74. Following the completion of the sale, the director now owns 272,466 shares in the company, valued at $50,376,238.74. The trade was a 9.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 179,324 shares of company stock worth $30,153,353 over the last quarter. Corporate insiders own 11.64% of the company’s stock.

Alphabet Price Performance

Shares of Alphabet stock opened at $159.53 on Wednesday. The company has a 50-day simple moving average of $158.38 and a two-hundred day simple moving average of $175.12. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The stock has a market capitalization of $1.94 trillion, a price-to-earnings ratio of 19.82, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL) last announced 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. The firm had revenue of $76.49 billion during the quarter, compared to analysts’ expectations of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. During the same period in the previous year, the firm earned $1.89 EPS. Analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be issued a $0.21 dividend. The ex-dividend date is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.53%. This is a boost from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio is 9.36%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on GOOGL shares. Rosenblatt Securities decreased their target price on Alphabet from $205.00 to $189.00 and set a “neutral” rating for the company in a research report on Friday, April 25th. DA Davidson lowered their price objective on shares of Alphabet from $200.00 to $160.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Tigress Financial raised their price target on shares of Alphabet from $220.00 to $240.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, April 30th. Westpark Capital reissued a “buy” rating and set a $210.00 target price on shares of Alphabet in a research report on Thursday, May 8th. Finally, Oppenheimer lifted their price objective on Alphabet from $185.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, April 25th. Ten investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $199.75.

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.