Lathrop Investment Management Corp Sells 8,731 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Lathrop Investment Management Corp cut its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 75.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,837 shares of the information services provider’s stock after selling 8,731 shares during the quarter. Lathrop Investment Management Corp’s holdings in Alphabet were worth $396,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in GOOGL. Meritage Group LP lifted its holdings in shares of Alphabet by 1,061.5% during the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock valued at $40,000 after purchasing an additional 276 shares in the last quarter. Macroview Investment Management LLC boosted its holdings in shares of Alphabet by 165.8% in the third quarter. Macroview Investment Management LLC now owns 319 shares of the information services provider’s stock worth $42,000 after buying an additional 199 shares during the last quarter. Armor Investment Advisors LLC raised its holdings in Alphabet by 31.0% in the 4th quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock worth $47,000 after purchasing an additional 80 shares during the period. IAG Wealth Partners LLC increased its holdings in Alphabet by 55.9% in the 4th quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock worth $48,000 after acquiring an additional 123 shares in the last quarter. Finally, Valued Wealth Advisors LLC bought a new position in Alphabet in the 4th quarter worth $55,000. Institutional investors own 40.03% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total value of $2,985,750.00. Following the sale, the chief executive officer now directly owns 2,332,691 shares in the company, valued at approximately $309,548,095.70. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director John L. Hennessy sold 2,100 shares of the company’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $175.76, for a total value of $369,096.00. Following the completion of the sale, the director now owns 5,891 shares in the company, valued at $1,035,402.16. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the sale, the chief executive officer now directly owns 2,332,691 shares of the company’s stock, valued at $309,548,095.70. The disclosure for this sale can be found here. Insiders have sold 275,129 shares of company stock valued at $40,382,765 over the last quarter. Insiders own 0.88% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on GOOGL. Stifel Nicolaus boosted their target price on shares of Alphabet from $174.00 to $196.00 and gave the stock a “buy” rating in a report on Friday, April 26th. BMO Capital Markets boosted their price target on shares of Alphabet from $185.00 to $215.00 and gave the company an “outperform” rating in a report on Friday, April 26th. KeyCorp raised their price objective on Alphabet from $165.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd. Roth Mkm increased their price objective on shares of Alphabet from $164.00 to $202.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Finally, Royal Bank of Canada raised their price objective on Alphabet from $155.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Five analysts have rated the stock with a hold rating, thirty have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $190.60.

Alphabet Stock Up 0.4 %

GOOGL stock opened at $167.24 on Monday. The company has a current ratio of 2.15, a quick ratio of 2.10 and a debt-to-equity ratio of 0.05. The firm has a 50 day simple moving average of $150.14 and a 200-day simple moving average of $142.36. The company has a market capitalization of $2.08 trillion, a P/E ratio of 25.65, a PEG ratio of 1.28 and a beta of 1.02. Alphabet Inc. has a twelve month low of $103.97 and a twelve month high of $174.71.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $66.04 billion. During the same period last year, the firm earned $1.17 earnings per share. On average, equities research analysts predict that Alphabet Inc. will post 7.57 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 10th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $0.80 annualized dividend and a yield of 0.48%.

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.