Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Geller Advisors LLC

Geller Advisors LLC reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 6.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 32,036 shares of the information services provider’s stock after selling 2,334 shares during the quarter. Alphabet accounts for 0.4% of Geller Advisors LLC’s holdings, making the stock its 18th largest holding. Geller Advisors LLC’s holdings in Alphabet were worth $6,064,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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 in the fourth quarter worth approximately $24,383,677,000. FMR LLC raised its stake in Alphabet by 9.8% during the fourth quarter. FMR LLC now owns 248,416,916 shares of the information services provider’s stock worth $47,025,322,000 after purchasing an additional 22,100,902 shares during the period. Northern Trust Corp boosted its holdings in shares of Alphabet by 17.0% in the 4th quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider’s stock valued at $13,178,470,000 after purchasing an additional 10,135,430 shares during the last quarter. Capital Research Global Investors grew its stake 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 buying an additional 10,037,685 shares during the period. Finally, Wellington Management Group LLP increased its holdings in shares of Alphabet by 15.9% during the 4th 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 hedge funds and other institutional investors.

Alphabet Stock Performance

GOOGL stock opened at $152.75 on Friday. The stock’s 50 day simple moving average is $158.93 and its 200 day simple moving average is $175.10. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05. The firm has a market cap of $1.85 trillion, a P/E ratio of 18.98, a P/E/G ratio of 1.34 and a beta of 1.01. 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 issued its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping 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 company had revenue of $76.49 billion for the quarter, compared to analysts’ expectations of $89.30 billion. During the same period in the prior year, the company earned $1.89 earnings per share. As a group, equities research analysts predict 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. Shareholders of record on Monday, June 9th will be paid a $0.21 dividend. This is an increase from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date is Monday, June 9th. Alphabet’s payout ratio is presently 9.36%.

Analyst Ratings Changes

A number of research analysts recently weighed in on GOOGL shares. Bank of America lifted their target price on Alphabet from $185.00 to $200.00 and gave the company a “buy” rating in a report on Friday, April 25th. BMO Capital Markets reiterated an “outperform” rating and set a $200.00 target price (down previously from $230.00) on shares of Alphabet in a report on Thursday, April 17th. Rosenblatt Securities cut their price target on shares of Alphabet from $205.00 to $189.00 and set a “neutral” rating on the stock in a report on Friday, April 25th. Mizuho decreased their price objective on shares of Alphabet from $230.00 to $205.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $178.00 target price on shares of Alphabet in a research note on Friday, April 25th. Ten investment 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. According to MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average target price of $199.75.

Insider Activity

In other Alphabet news, Director Kavitark Ram Shriram sold 29,066 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $184.89, for a total transaction of $5,374,012.74. Following the completion of the transaction, the director now directly owns 272,466 shares of the company’s stock, valued at $50,376,238.74. The trade was a 9.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 2,824 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $187.43, for a total transaction of $529,302.32. Following the completion of the transaction, the chief accounting officer now owns 15,024 shares of the company’s stock, valued at approximately $2,815,948.32. This trade represents a 15.82 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 179,324 shares of company stock valued at $30,153,353. 11.64% of the stock is currently owned by 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.