W.G. Shaheen & Associates DBA Whitney & Co Sells 319 Shares of Alphabet Inc. (NASDAQ:GOOGL)

W.G. Shaheen & Associates DBA Whitney & Co cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 109,329 shares of the information services provider’s stock after selling 319 shares during the period. Alphabet makes up approximately 2.0% of W.G. Shaheen & Associates DBA Whitney & Co’s investment portfolio, making the stock its 18th largest holding. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in Alphabet were worth $15,272,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of GOOGL. FMR LLC increased its holdings in shares of Alphabet by 5.6% in the third quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock worth $29,746,764,000 after acquiring an additional 12,070,681 shares in the last quarter. International Assets Investment Management LLC raised its holdings in Alphabet by 4,894.1% during the 4th quarter. International Assets Investment Management LLC now owns 5,445,396 shares of the information services provider’s stock worth $7,606,670,000 after buying an additional 5,336,359 shares during the period. J.P. Morgan Private Wealth Advisors LLC acquired a new position in shares of Alphabet in the third quarter valued at approximately $634,465,000. Ontario Teachers Pension Plan Board bought a new stake in shares of Alphabet during the third quarter worth $601,545,000. Finally, Lone Pine Capital LLC bought a new stake in shares of Alphabet during the third quarter worth $407,367,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Alphabet

In other news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $132.70, for a total value of $2,985,750.00. Following the completion of the sale, the chief executive officer now directly owns 2,332,691 shares of the company’s stock, valued at $309,548,095.70. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $132.70, for a total transaction of $2,985,750.00. Following the transaction, the chief executive officer now directly owns 2,332,691 shares of the company’s stock, valued at $309,548,095.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ruth Porat sold 48,077 shares of Alphabet stock in a transaction on Friday, March 8th. The stock was sold at an average price of $137.22, for a total value of $6,597,125.94. Following the sale, the chief financial officer now owns 1,777,106 shares in the company, valued at $243,854,485.32. The disclosure for this sale can be found here. Insiders have sold 205,935 shares of company stock valued at $31,178,987 over the last ninety days. 11.55% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Raymond James upped their target price on shares of Alphabet from $160.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Citigroup boosted their target price on Alphabet from $168.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Loop Capital raised their price target on shares of Alphabet from $155.00 to $170.00 and gave the stock a “hold” rating in a research note on Wednesday, May 1st. JPMorgan Chase & Co. boosted their price objective on shares of Alphabet from $165.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Finally, TD Cowen lifted their price target on shares of Alphabet from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Five analysts have rated the stock with a hold rating, thirty have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $191.57.

Alphabet Stock Up 0.8 %

Alphabet stock opened at $174.99 on Friday. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $2.16 trillion, a PE ratio of 26.84, a PEG ratio of 1.30 and a beta of 1.02. The firm’s fifty day moving average is $160.81 and its 200 day moving average is $146.70. Alphabet Inc. has a 12-month low of $115.35 and a 12-month high of $178.77.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. The company had revenue of $80.54 billion for the quarter, compared to analysts’ expectations of $66.04 billion. During the same quarter in the prior year, the firm earned $1.17 EPS. As a group, sell-side analysts predict that Alphabet Inc. will post 7.61 EPS for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, June 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.46%.

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.