Alphabet Inc. (NASDAQ:GOOGL) Position Reduced by Asset Dedication LLC

Asset Dedication LLC lessened its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 33.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 17,958 shares of the information services provider’s stock after selling 9,204 shares during the period. Asset Dedication LLC’s holdings in Alphabet were worth $3,399,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. LMR Partners LLP bought a new stake in shares of Alphabet during the third quarter valued at approximately $32,000. E Fund Management Hong Kong Co. Ltd. grew its holdings in shares of Alphabet by 518.8% during the 4th 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 in the last quarter. Denver PWM LLC increased its stake in shares of Alphabet by 25.4% during the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after purchasing an additional 57 shares during the last quarter. Quarry LP bought a new stake in Alphabet during the second quarter worth approximately $53,000. Finally, Teachers Insurance & Annuity Association of America bought a new stake in Alphabet during the third quarter valued at about $66,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Trading Down 7.3 %

Shares of Alphabet stock opened at $191.33 on Thursday. The stock has a market cap of $2.34 trillion, a PE ratio of 25.38, a PEG ratio of 1.31 and a beta of 0.99. Alphabet Inc. has a 52-week low of $130.66 and a 52-week high of $207.05. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The firm has a 50-day moving average of $190.39 and a 200-day moving average of $174.40.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 EPS for the quarter, beating the consensus estimate of $2.12 by $0.03. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. As a group, sell-side analysts forecast that Alphabet Inc. will post 8.02 EPS for the current year.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,367 shares of Alphabet stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $170.41, for a total value of $232,950.47. Following the completion of the sale, the chief accounting officer now directly owns 23,515 shares in the company, valued at approximately $4,007,191.15. The trade was a 5.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $176.67, for a total transaction of $3,975,075.00. Following the completion of the sale, the chief executive officer now directly owns 2,061,806 shares of the company’s stock, valued at approximately $364,259,266.02. This trade represents a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 89,529 shares of company stock worth $16,600,078. Corporate insiders own 11.55% of the company’s stock.

Wall Street Analysts Forecast Growth

GOOGL has been the topic of several research reports. Robert W. Baird restated an “outperform” rating and set a $205.00 price target on shares of Alphabet in a research note on Tuesday, December 10th. Evercore ISI boosted their price objective on Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Needham & Company LLC reissued a “buy” rating and issued a $225.00 target price on shares of Alphabet in a research note on Wednesday. Seaport Res Ptn raised Alphabet from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 29th. Finally, Phillip Securities raised shares of Alphabet to a “strong-buy” rating in a report on Friday, November 1st. Nine equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $210.95.

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.