Lmcg Investments LLC Sells 9,970 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Lmcg Investments LLC cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 257,803 shares of the information services provider’s stock after selling 9,970 shares during the quarter. Alphabet accounts for 3.0% of Lmcg Investments LLC’s investment portfolio, making the stock its 4th largest position. Lmcg Investments LLC’s holdings in Alphabet were worth $48,802,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. LMR Partners LLP acquired a new stake in shares of Alphabet in the 3rd quarter valued at $32,000. Denver PWM LLC raised its holdings in shares of Alphabet by 25.4% in the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock valued at $47,000 after purchasing an additional 57 shares in the last quarter. Quarry LP acquired a new stake in shares of Alphabet in the 2nd quarter valued at $53,000. Teachers Insurance & Annuity Association of America acquired a new stake in shares of Alphabet in the 3rd quarter valued at $66,000. Finally, Mendota Financial Group LLC raised its holdings in shares of Alphabet by 19.0% in the 3rd quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock valued at $67,000 after purchasing an additional 64 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In related news, Director John L. Hennessy sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $189.80, for a total value of $284,700.00. Following the completion of the sale, the director now directly owns 21,824 shares in the company, valued at approximately $4,142,195.20. The trade was a 6.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Amie Thuener O’toole sold 1,367 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were 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 owns 26,349 shares of the company’s stock, valued at approximately $4,516,745.58. The trade was a 4.93 % 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 worth $24,368,654 over the last ninety days. 11.55% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley raised their price objective on shares of Alphabet from $205.00 to $215.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Needham & Company LLC reaffirmed a “buy” rating and issued a $210.00 target price on shares of Alphabet in a research report on Wednesday, October 30th. Citizens Jmp downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 2nd. Stifel Nicolaus increased their target price on shares of Alphabet from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Finally, Roth Mkm raised their price objective on shares of Alphabet from $206.00 to $212.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Nine analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $209.44.

Alphabet Stock Performance

Shares of GOOGL opened at $200.21 on Friday. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The stock has a market cap of $2.45 trillion, a P/E ratio of 26.55, a PEG ratio of 1.27 and a beta of 0.98. The company has a 50-day moving average of $186.46 and a two-hundred day moving average of $173.80. Alphabet Inc. has a 12-month low of $130.66 and a 12-month high of $202.29.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The company had revenue of $88.27 billion during the quarter, compared to analysts’ expectations of $72.85 billion. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. During the same quarter in the previous year, the business posted $1.55 earnings per share. As a group, research analysts predict that Alphabet Inc. will post 8.02 EPS for the current fiscal year.

Alphabet Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 9th were issued a dividend of $0.20 per share. 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%.

About Alphabet

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.