Alphabet Inc. (NASDAQ:GOOGL) Position Decreased by Philadelphia Trust Co.

Philadelphia Trust Co. cut its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 5.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 239,673 shares of the information services provider’s stock after selling 14,274 shares during the period. Alphabet comprises approximately 3.3% of Philadelphia Trust Co.’s portfolio, making the stock its 5th biggest holding. Philadelphia Trust Co.’s holdings in Alphabet were worth $45,370,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of GOOGL. Bennett Selby Investments LP lifted its stake in Alphabet by 4.0% during the fourth quarter. Bennett Selby Investments LP now owns 1,354 shares of the information services provider’s stock worth $256,000 after purchasing an additional 52 shares during the last quarter. Macroview Investment Management LLC raised its holdings in shares of Alphabet by 4.2% during the 4th quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider’s stock valued at $245,000 after buying an additional 52 shares in the last quarter. Conrad Siegel Investment Advisors Inc. lifted its position in Alphabet by 0.5% in the 4th quarter. Conrad Siegel Investment Advisors Inc. now owns 9,845 shares of the information services provider’s stock worth $1,864,000 after buying an additional 53 shares during the last quarter. Cornerstone Planning Group LLC boosted its stake in Alphabet by 2.3% in the fourth quarter. Cornerstone Planning Group LLC now owns 2,381 shares of the information services provider’s stock worth $457,000 after buying an additional 53 shares in the last quarter. Finally, Addison Advisors LLC grew its position in Alphabet by 0.7% during the fourth quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider’s stock valued at $1,425,000 after acquiring an additional 53 shares during the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $156.31 on Wednesday. The firm has a market cap of $1.91 trillion, a P/E ratio of 19.42, a PEG ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a twelve month low of $140.53 and a twelve month high of $207.05. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a 50 day moving average of $167.17 and a 200 day moving average of $176.14.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. As a group, research analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.51%. Alphabet’s dividend payout ratio is presently 9.94%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GOOGL. KeyCorp lowered their price target on shares of Alphabet from $220.00 to $202.00 and set an “overweight” rating for the company in a research note on Tuesday, March 18th. DA Davidson reduced their price target on Alphabet from $200.00 to $160.00 and set a “neutral” rating on the stock in a research report on Monday. Citizens Jmp cut Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Wells Fargo & Company dropped their price objective on Alphabet from $184.00 to $167.00 and set an “equal weight” rating for the company in a research note on Monday, March 31st. Finally, Morgan Stanley lowered their price target on shares of Alphabet from $215.00 to $210.00 and set an “overweight” rating for the company in a report on Wednesday, February 5th. Ten investment analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and five have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $204.72.

Insider Activity at Alphabet

In other news, CAO Amie Thuener O’toole sold 1,340 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the transaction, the chief accounting officer now directly owns 17,848 shares in the company, valued at $3,606,723.84. This trade represents a 6.98 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider John Kent Walker sold 17,690 shares of Alphabet stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $185.51, for a total value of $3,281,671.90. Following the completion of the sale, the insider now directly owns 43,111 shares of the company’s stock, valued at $7,997,521.61. The trade was a 29.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 115,663 shares of company stock worth $20,286,447 over the last quarter. Company insiders own 11.55% of the company’s stock.

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.