Montchanin Asset Management LLC Has $2 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Montchanin Asset Management LLC reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,557 shares of the information services provider’s stock after selling 100 shares during the period. Alphabet comprises about 1.9% of Montchanin Asset Management LLC’s investment portfolio, making the stock its 12th largest holding. Montchanin Asset Management LLC’s holdings in Alphabet were worth $1,998,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of GOOGL. Compass Planning Associates Inc bought a new stake in Alphabet during the 4th quarter worth about $30,000. E Fund Management Hong Kong Co. Ltd. increased its position in shares of Alphabet by 518.8% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock valued at $37,000 after acquiring an additional 166 shares during the last quarter. Fiduciary Advisors Inc. bought a new stake in Alphabet during the fourth quarter worth about $39,000. PayPay Securities Corp raised its holdings in Alphabet by 36.1% during the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after acquiring an additional 65 shares in the last quarter. Finally, Anderson Financial Strategies LLC acquired a new position in Alphabet during the fourth quarter valued at approximately $49,000. 40.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on GOOGL. KeyCorp boosted their price target on Alphabet from $185.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, April 25th. Susquehanna lowered their target price on shares of Alphabet from $225.00 to $220.00 and set a “positive” rating on the stock in a report on Friday, April 25th. Sanford C. Bernstein increased their price target on shares of Alphabet from $165.00 to $185.00 and gave the company a “market perform” rating in a research note on Friday, April 25th. Bank of America lifted their price objective on shares of Alphabet from $185.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, April 25th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Alphabet in a report on Wednesday. Ten analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $199.75.

Insider Buying and Selling at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $155.90, for a total transaction of $5,066,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,652,696 shares in the company, valued at $413,555,306.40. This represents a 1.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Amie Thuener O’toole sold 1,374 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $173.47, for a total transaction of $238,347.78. Following the completion of the transaction, the chief accounting officer now directly owns 15,024 shares of the company’s stock, valued at approximately $2,606,213.28. The trade was a 8.38% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 164,654 shares of company stock worth $26,793,380 over the last three months. Corporate insiders own 11.64% of the company’s stock.

Alphabet Stock Performance

GOOGL opened at $168.47 on Friday. The firm has a market cap of $2.04 trillion, a P/E ratio of 20.93, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The business’s fifty day moving average is $158.57 and its 200-day moving average is $174.88. Alphabet Inc. has a 52-week low of $140.53 and a 52-week high of $207.05. 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 (NASDAQ:GOOGL) last announced its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. The firm had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. During the same period in the prior year, the company posted $1.89 earnings per share. Sell-side analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 0.50%. This is a boost from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. Alphabet’s dividend payout ratio (DPR) is 9.36%.

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.