Pathstone Holdings LLC Sells 8,300 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Pathstone Holdings LLC lessened its stake in Alphabet Inc. (NASDAQ:GOOGL) by 0.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 886,361 shares of the information services provider’s stock after selling 8,300 shares during the quarter. Alphabet makes up approximately 0.7% of Pathstone Holdings LLC’s portfolio, making the stock its 22nd biggest holding. Pathstone Holdings LLC’s holdings in Alphabet were worth $167,826,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Mufg Securities Americas Inc. purchased a new position in Alphabet during the fourth quarter valued at approximately $16,328,000. Nia Impact Advisors LLC raised its position in shares of Alphabet by 0.3% in the fourth quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider’s stock worth $3,249,000 after buying an additional 59 shares in the last quarter. Nissay Asset Management Corp Japan ADV boosted its stake in Alphabet by 12.1% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 1,452,182 shares of the information services provider’s stock valued at $279,923,000 after buying an additional 156,937 shares during the period. Nearwater Capital Markets Ltd purchased a new position in Alphabet during the fourth quarter worth about $53,193,000. Finally, Nellore Capital Management LLC grew its position in Alphabet by 10.3% during the fourth quarter. Nellore Capital Management LLC now owns 161,000 shares of the information services provider’s stock worth $30,477,000 after buying an additional 15,000 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Trading Up 0.7%

Shares of GOOGL opened at $159.53 on Wednesday. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05. The company has a 50 day simple moving average of $158.38 and a two-hundred day simple moving average of $175.12. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. The firm has a market cap of $1.94 trillion, a P/E ratio of 19.82, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The firm had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter last year, the firm earned $1.89 EPS. On average, equities analysts expect 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. Stockholders of record on Monday, June 9th will be paid a $0.21 dividend. The ex-dividend date is Monday, June 9th. This represents a $0.84 annualized dividend and a dividend yield of 0.53%. This is an increase from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio is currently 9.36%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. KeyCorp increased their price target on shares of Alphabet from $185.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, April 25th. Sanford C. Bernstein increased their target price on Alphabet from $165.00 to $185.00 and gave the company a “market perform” rating in a research note on Friday, April 25th. DZ Bank lowered Alphabet from a “buy” rating to a “hold” rating and set a $198.00 price target for the company. in a research note on Thursday, February 6th. Susquehanna reduced their price objective on Alphabet from $225.00 to $220.00 and set a “positive” rating on the stock in a research report on Friday, April 25th. Finally, Wedbush set a $190.00 price objective on Alphabet and gave the company an “outperform” rating in a report on Tuesday, April 15th. Ten analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $199.75.

Insider Activity at Alphabet

In other news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $155.90, for a total transaction of $5,066,750.00. Following the transaction, the chief executive officer now owns 2,652,696 shares of the company’s stock, valued at approximately $413,555,306.40. This represents a 1.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 2,824 shares of Alphabet stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $187.43, for a total value of $529,302.32. Following the completion of the sale, the chief accounting officer now owns 15,024 shares of the company’s stock, valued at $2,815,948.32. The trade was a 15.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 179,324 shares of company stock worth $30,153,353. Insiders own 11.64% of the company’s stock.

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.