Alphabet Inc. (NASDAQ:GOOGL) is First Affirmative Financial Network’s 7th Largest Position

First Affirmative Financial Network reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.6% in the fourth quarter, Holdings Channel reports. The fund owned 18,405 shares of the information services provider’s stock after selling 120 shares during the quarter. Alphabet accounts for about 2.0% of First Affirmative Financial Network’s portfolio, making the stock its 7th largest position. First Affirmative Financial Network’s holdings in Alphabet were worth $3,484,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Schear Investment Advisers LLC grew its position in shares of Alphabet by 17.0% during the 3rd quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock valued at $5,598,000 after purchasing an additional 4,905 shares in the last quarter. Trinity Financial Advisors LLC increased its position in shares of Alphabet by 4.5% in the third quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock worth $771,000 after purchasing an additional 190 shares during the last quarter. Landscape Capital Management L.L.C. raised its stake in Alphabet by 27.9% in the third quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider’s stock valued at $4,192,000 after purchasing an additional 5,516 shares in the last quarter. abrdn plc lifted its position in Alphabet by 10.7% during the third quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock valued at $1,037,196,000 after purchasing an additional 611,233 shares during the last quarter. Finally, StoneCrest Wealth Management Inc. lifted its holdings in shares of Alphabet by 0.7% during the 3rd quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock worth $3,567,000 after acquiring an additional 140 shares during the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Insider Activity

In other Alphabet news, Director Kavitark Ram Shriram sold 37,134 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the completion of the sale, the director now directly owns 282,832 shares of the company’s stock, valued at $52,329,576.64. This trade represents a 11.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John Kent Walker sold 16,820 shares of the business’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the completion of the transaction, the insider now directly owns 43,981 shares in the company, valued at $8,471,620.22. This trade represents a 27.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 89,529 shares of company stock valued at $16,600,078 in the last ninety days. Corporate insiders own 11.55% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on GOOGL. Loop Capital increased their price objective on Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Needham & Company LLC restated a “buy” rating and set a $225.00 target price on shares of Alphabet in a report on Wednesday. DZ Bank downgraded shares of Alphabet from a “buy” rating to a “hold” rating and set a $198.00 target price on the stock. in a research note on Thursday. Citigroup cut their price target on shares of Alphabet from $232.00 to $229.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, BMO Capital Markets reissued an “outperform” rating and set a $217.00 target price (up from $215.00) on shares of Alphabet in a research note on Wednesday, October 30th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $210.62.

Alphabet Price Performance

NASDAQ GOOGL opened at $191.60 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.95 and a quick ratio of 1.95. Alphabet Inc. has a 1-year low of $130.66 and a 1-year high of $207.05. The stock has a market capitalization of $2.35 trillion, a price-to-earnings ratio of 25.41, a PEG ratio of 1.31 and a beta of 0.99. The business’s fifty day moving average price is $190.83 and its 200-day moving average price is $174.52.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (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%. On average, equities analysts predict that Alphabet Inc. will post 8.02 earnings per share for the current year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend is Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is currently 9.94%.

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.