Gabelli Funds LLC Sells 2,835 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Gabelli Funds LLC reduced its position in Alphabet Inc. (NASDAQ:GOOGL) by 0.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 440,221 shares of the information services provider’s stock after selling 2,835 shares during the quarter. Gabelli Funds LLC’s holdings in Alphabet were worth $83,334,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of GOOGL. Compass Planning Associates Inc purchased a new stake in Alphabet during the 4th quarter valued at about $30,000. E Fund Management Hong Kong Co. Ltd. grew its holdings in shares of Alphabet by 518.8% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock worth $37,000 after purchasing an additional 166 shares during the last quarter. Fiduciary Advisors Inc. purchased a new position in shares of Alphabet in the fourth quarter worth $39,000. PayPay Securities Corp raised its holdings in Alphabet by 36.1% during the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after buying an additional 65 shares during the last quarter. Finally, Denver PWM LLC boosted its position in Alphabet by 25.4% during the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock valued at $47,000 after buying an additional 57 shares during the period. 40.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on GOOGL. Wells Fargo & Company lowered their price objective on shares of Alphabet from $184.00 to $167.00 and set an “equal weight” rating for the company in a research note on Monday, March 31st. Rosenblatt Securities reiterated a “neutral” rating and issued a $205.00 price objective on shares of Alphabet in a research report on Wednesday, March 19th. KeyCorp decreased their target price on Alphabet from $220.00 to $202.00 and set an “overweight” rating for the company in a report on Tuesday, March 18th. Citizens Jmp cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Finally, Jefferies Financial Group decreased their price objective on shares of Alphabet from $235.00 to $200.00 and set a “buy” rating for the company in a report on Monday, March 31st. Ten analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $200.74.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,340 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $202.08, for a total transaction of $270,787.20. Following the completion of the sale, the chief accounting officer now owns 17,848 shares of the company’s stock, valued at approximately $3,606,723.84. The trade was a 6.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John L. Hennessy sold 200 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $165.53, for a total value of $33,106.00. Following the completion of the transaction, the director now directly owns 7,813 shares in the company, valued at $1,293,285.89. This trade represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 148,163 shares of company stock worth $25,361,647 in the last quarter. Company insiders own 11.55% of the company’s stock.

Alphabet Trading Down 1.5 %

Shares of GOOGL stock opened at $151.08 on Friday. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05. The stock has a market capitalization of $1.84 trillion, a P/E ratio of 18.77, a P/E/G ratio of 1.34 and a beta of 1.03. The firm’s 50 day moving average is $165.14 and its 200 day moving average is $175.77.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Research analysts expect that Alphabet Inc. will post 8.9 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.53%. The ex-dividend date of this dividend was Monday, March 10th. Alphabet’s payout ratio is currently 9.94%.

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.