Regal Partners Ltd Sells 61,980 Shares of Alphabet Inc. (NASDAQ:GOOG)

Regal Partners Ltd lowered its stake in Alphabet Inc. (NASDAQ:GOOG) by 86.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,000 shares of the information services provider’s stock after selling 61,980 shares during the period. Regal Partners Ltd’s holdings in Alphabet were worth $1,904,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of GOOG. Fiduciary Advisors Inc. bought a new position in shares of Alphabet in the fourth quarter worth approximately $27,000. LSV Asset Management purchased a new stake in Alphabet during the 4th quarter valued at $27,000. WealthTrak Capital Management LLC bought a new stake in Alphabet in the 4th quarter worth $38,000. Mountain Hill Investment Partners Corp. purchased a new position in shares of Alphabet in the fourth quarter valued at about $39,000. Finally, Noble Wealth Management PBC purchased a new position in shares of Alphabet in the fourth quarter valued at about $43,000. Institutional investors own 27.26% of the company’s stock.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 1,340 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the completion of the sale, the chief accounting officer now owns 17,848 shares in the company, valued at $3,606,723.84. This represents a 6.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $156.16, for a total value of $5,075,200.00. Following the transaction, the chief executive officer now directly owns 2,685,196 shares in the company, valued at approximately $419,320,207.36. The trade was a 1.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 148,163 shares of company stock worth $25,361,647. Company insiders own 12.99% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on GOOG shares. The Goldman Sachs Group reissued a “buy” rating on shares of Alphabet in a research note on Wednesday, February 5th. Citigroup reiterated a “sell” rating on shares of Alphabet in a research report on Wednesday, April 23rd. Rosenblatt Securities upgraded Alphabet from a “hold” rating to a “strong-buy” rating in a report on Friday, April 25th. Citizens Jmp cut shares of Alphabet from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 2nd. Finally, Wedbush reissued an “outperform” rating and set a $220.00 price objective on shares of Alphabet in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and a consensus price target of $203.94.

Alphabet Price Performance

NASDAQ GOOG opened at $162.06 on Wednesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. Alphabet Inc. has a 1-year low of $142.66 and a 1-year high of $208.70. The stock has a market capitalization of $1.98 trillion, a price-to-earnings ratio of 20.13, a PEG ratio of 1.34 and a beta of 1.04. The business’s fifty day moving average price is $163.26 and its 200-day moving average price is $177.23.

Alphabet (NASDAQ:GOOG) last announced its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.79. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The business had revenue of $90.23 billion for the quarter, compared to analysts’ expectations of $89.30 billion. During the same period last year, the firm posted $1.89 earnings per share. The business’s revenue for the quarter was up 12.0% on a year-over-year basis. On average, equities analysts predict that Alphabet Inc. will post 8.89 earnings per share for the current year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be issued a dividend of $0.21 per share. This is a boost from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend is Monday, June 9th. Alphabet’s dividend payout ratio is currently 9.36%.

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.