Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Cherrydale Wealth Management LLC

Cherrydale Wealth Management LLC decreased its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 15.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,030 shares of the information services provider’s stock after selling 1,678 shares during the quarter. Alphabet makes up approximately 0.7% of Cherrydale Wealth Management LLC’s portfolio, making the stock its 17th biggest position. Cherrydale Wealth Management LLC’s holdings in Alphabet were worth $1,709,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. State Street Corp boosted its holdings in shares of Alphabet by 0.3% in 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 boosted its stake in 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 acquiring an additional 2,626,431 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Alphabet by 7.7% during the third quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock worth $10,559,240,000 after purchasing an additional 4,567,275 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of Alphabet by 2.5% during the third quarter. Fisher Asset Management LLC now owns 49,857,900 shares of the information services provider’s stock worth $8,268,933,000 after purchasing an additional 1,237,385 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Alphabet by 1.4% in the 3rd 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 during the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Alphabet

In other Alphabet news, Director Frances Arnold sold 441 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the transaction, the director now owns 16,490 shares of the company’s stock, valued at approximately $2,820,779.40. This trade represents a 2.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Amie Thuener O’toole sold 1,367 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $171.42, for a total transaction of $234,331.14. Following the completion of the sale, the chief accounting officer now directly owns 26,349 shares of the company’s stock, valued at approximately $4,516,745.58. This represents a 4.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 133,387 shares of company stock worth $24,368,654 in the last ninety days. 11.55% of the stock is owned by insiders.

Analyst Ratings Changes

GOOGL has been the topic of a number of research reports. Pivotal Research raised their target price on shares of Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Wedbush raised their price objective on shares of Alphabet from $210.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, January 6th. Seaport Res Ptn raised shares of Alphabet from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 29th. 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 report on Wednesday, October 30th. Finally, Phillip Securities raised Alphabet to a “strong-buy” rating in a research note on Friday, November 1st. Nine analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $208.15.

Alphabet Stock Up 1.0 %

Shares of NASDAQ:GOOGL opened at $198.05 on Wednesday. The company’s fifty day moving average is $184.74 and its two-hundred day moving average is $173.33. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. Alphabet Inc. has a 1-year low of $130.66 and a 1-year high of $202.29. The stock has a market capitalization of $2.42 trillion, a price-to-earnings ratio of 26.27, a price-to-earnings-growth ratio of 1.26 and a beta of 0.98.

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

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were issued a $0.20 dividend. The ex-dividend date was Monday, December 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.40%. Alphabet’s dividend payout ratio (DPR) is presently 10.61%.

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.