Trivant Custom Portfolio Group LLC Decreases Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Trivant Custom Portfolio Group LLC decreased its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 31,056 shares of the information services provider’s stock after selling 488 shares during the quarter. Alphabet accounts for 3.4% of Trivant Custom Portfolio Group LLC’s investment portfolio, making the stock its 6th largest holding. Trivant Custom Portfolio Group LLC’s holdings in Alphabet were worth $5,879,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp grew its holdings in Alphabet by 0.3% during the 3rd quarter. State Street Corp now owns 222,555,548 shares of the information services provider’s stock valued at $36,910,838,000 after buying an additional 743,369 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Alphabet by 2.0% in the third quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock valued at $22,154,651,000 after purchasing an additional 2,626,431 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Alphabet by 7.7% in the third quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock valued at $10,559,240,000 after purchasing an additional 4,567,275 shares in the last quarter. Fisher Asset Management LLC grew its holdings in shares of Alphabet by 2.5% in the third quarter. Fisher Asset Management LLC now owns 49,857,900 shares of the information services provider’s stock valued at $8,268,933,000 after purchasing an additional 1,237,385 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Alphabet by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 37,233,079 shares of the information services provider’s stock valued at $6,175,106,000 after purchasing an additional 523,416 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $196.00 on Tuesday. The business’s 50 day moving average price is $184.43 and its 200 day moving average price is $173.25. The firm has a market cap of $2.40 trillion, a P/E ratio of 25.99, a P/E/G ratio of 1.22 and a beta of 0.98. Alphabet Inc. has a 52 week low of $130.66 and a 52 week high of $201.42. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 0.04.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The company had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. During the same period in the previous year, the company posted $1.55 earnings per share. On average, sell-side analysts expect that Alphabet Inc. will post 8.03 earnings per share for the current year.

Alphabet Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.41%. The ex-dividend date was Monday, December 9th. Alphabet’s payout ratio is 10.61%.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total transaction of $232,950.47. Following the completion of the transaction, the chief accounting officer now directly owns 23,515 shares of the company’s stock, valued at $4,007,191.15. This represents a 5.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Frances Arnold sold 441 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $171.06, for a total value of $75,437.46. Following the transaction, the director now directly owns 16,490 shares of the company’s stock, valued at approximately $2,820,779.40. The trade was a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 133,387 shares of company stock valued at $24,368,654 in the last three months. 11.55% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

GOOGL has been the subject of a number of analyst reports. Royal Bank of Canada raised their price target on Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Piper Sandler reiterated an “overweight” rating and set a $210.00 target price (up from $200.00) on shares of Alphabet in a research report on Wednesday, October 30th. Loop Capital lifted their target price on Alphabet from $170.00 to $185.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. Citizens Jmp downgraded Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Finally, Sanford C. Bernstein lifted their target price on Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. Nine analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average price target of $208.15.

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.