Malaga Cove Capital LLC Sells 622 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Malaga Cove Capital LLC cut its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 3.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,194 shares of the information services provider’s stock after selling 622 shares during the period. Alphabet comprises approximately 1.4% of Malaga Cove Capital LLC’s investment portfolio, making the stock its 16th largest holding. Malaga Cove Capital LLC’s holdings in Alphabet were worth $3,633,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of the stock. Compass Planning Associates Inc purchased a new stake in Alphabet in the 4th quarter worth about $30,000. E Fund Management Hong Kong Co. Ltd. increased its holdings in Alphabet by 518.8% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock worth $37,000 after acquiring an additional 166 shares during the last quarter. Fiduciary Advisors Inc. purchased a new stake in Alphabet in the 4th quarter worth about $39,000. PayPay Securities Corp increased its holdings in Alphabet by 36.1% in the 4th quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after acquiring an additional 65 shares during the last quarter. Finally, Anderson Financial Strategies LLC bought a new position in shares of Alphabet in the fourth quarter valued at approximately $49,000. 40.03% of the stock is currently owned by institutional investors.

Insider Activity at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $155.90, for a total value of $5,066,750.00. Following the completion of the transaction, the chief executive officer now owns 2,652,696 shares in the company, valued at $413,555,306.40. This trade represents a 1.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kavitark Ram Shriram sold 29,066 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $184.89, for a total value of $5,374,012.74. Following the sale, the director now owns 272,466 shares of the company’s stock, valued at $50,376,238.74. The trade was a 9.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 179,324 shares of company stock worth $30,153,353 in the last quarter. 11.64% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Wedbush set a $190.00 price objective on Alphabet and gave the stock an “outperform” rating in a report on Tuesday, April 15th. Westpark Capital reiterated a “buy” rating and issued a $210.00 price objective on shares of Alphabet in a research report on Thursday, May 8th. Oppenheimer boosted their price objective on Alphabet from $185.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, April 25th. Bank of America boosted their price objective on Alphabet from $185.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, April 25th. Finally, Roth Mkm restated a “buy” rating and set a $220.00 target price on shares of Alphabet in a report on Wednesday, March 19th. Ten research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $199.75.

Alphabet Stock Up 0.7%

NASDAQ GOOGL opened at $159.53 on Wednesday. The stock has a market cap of $1.94 trillion, a PE ratio of 19.82, a P/E/G ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. The business has a 50 day moving average price of $158.38 and a two-hundred day moving average price of $175.12. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.79. The firm had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. During the same period in the previous year, the company earned $1.89 earnings per share. As a group, sell-side analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be given a $0.21 dividend. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.53%. Alphabet’s dividend payout ratio (DPR) is 9.36%.

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.