Second Line Capital LLC Has $871,000 Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Second Line Capital LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 11.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,600 shares of the information services provider’s stock after selling 606 shares during the quarter. Second Line Capital LLC’s holdings in Alphabet were worth $871,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Rockbridge Capital Management LLC acquired a new stake in Alphabet in the fourth quarter worth about $3,119,000. Optivise Advisory Services LLC increased its position in Alphabet by 8.0% in the fourth quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider’s stock worth $1,035,000 after purchasing an additional 403 shares during the period. Community Bank N.A. increased its position in Alphabet by 6.4% in the fourth quarter. Community Bank N.A. now owns 46,173 shares of the information services provider’s stock worth $8,741,000 after purchasing an additional 2,790 shares during the period. Premier Fund Managers Ltd increased its position in Alphabet by 30.0% in the fourth quarter. Premier Fund Managers Ltd now owns 61,792 shares of the information services provider’s stock worth $11,816,000 after purchasing an additional 14,262 shares during the period. Finally, Absolute Capital Management LLC increased its position in Alphabet by 14.0% in the fourth quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider’s stock worth $401,000 after purchasing an additional 258 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently commented on the company. KeyCorp lifted their price objective on Alphabet from $185.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. BMO Capital Markets reiterated an “outperform” rating and issued a $200.00 price objective (down from $230.00) on shares of Alphabet in a research report on Thursday, April 17th. DZ Bank lowered Alphabet from a “buy” rating to a “hold” rating and set a $198.00 target price for the company. in a research report on Thursday, February 6th. 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. Finally, Sanford C. Bernstein boosted their target price on Alphabet from $165.00 to $185.00 and gave the stock a “market perform” rating in a research report on Friday, April 25th. Ten research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $199.75.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 673 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $155.33, for a total transaction of $104,537.09. Following the transaction, the chief accounting officer now owns 15,303 shares of the company’s stock, valued at $2,377,014.99. The trade was a 4.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sundar Pichai sold 32,500 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 2,652,696 shares in the company, valued at $413,555,306.40. This trade represents a 1.21% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 179,324 shares of company stock worth $30,153,353. Corporate insiders own 11.64% of the company’s stock.

Alphabet Trading Up 1.4%

NASDAQ GOOGL opened at $166.19 on Friday. The stock has a market capitalization of $2.02 trillion, a price-to-earnings ratio of 20.64, a PEG ratio of 1.34 and a beta of 1.01. The stock’s 50 day moving average price is $158.21 and its two-hundred day moving average price is $175.00. 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 Inc. has a 52 week low of $140.53 and a 52 week high of $207.05.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating the consensus estimate of $2.02 by $0.79. The firm had revenue of $76.49 billion for 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 quarter in the previous year, the business posted $1.89 EPS. As a group, analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be paid a $0.21 dividend. This is a boost from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.51%. Alphabet’s payout ratio is presently 9.36%.

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.