Pathstone Holdings LLC Decreases Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Pathstone Holdings LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 886,361 shares of the information services provider’s stock after selling 8,300 shares during the quarter. Alphabet comprises 0.7% of Pathstone Holdings LLC’s holdings, making the stock its 22nd largest holding. Pathstone Holdings LLC’s holdings in Alphabet were worth $167,826,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its stake in shares of Alphabet by 7.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock valued at $10,559,240,000 after purchasing an additional 4,567,275 shares during the period. Regent Peak Wealth Advisors LLC raised its holdings in Alphabet by 0.9% in the 4th quarter. Regent Peak Wealth Advisors LLC now owns 23,533 shares of the information services provider’s stock worth $4,455,000 after purchasing an additional 207 shares during the period. Wealth Group Ltd. boosted its position in Alphabet by 5.2% during the fourth quarter. Wealth Group Ltd. now owns 1,582 shares of the information services provider’s stock worth $299,000 after purchasing an additional 78 shares in the last quarter. Cooper Financial Group grew its holdings in Alphabet by 9.6% in the fourth quarter. Cooper Financial Group now owns 68,368 shares of the information services provider’s stock valued at $12,942,000 after purchasing an additional 5,988 shares during the period. Finally, Accelerate Investment Advisors LLC increased its position in shares of Alphabet by 3.3% in the fourth quarter. Accelerate Investment Advisors LLC now owns 2,736 shares of the information services provider’s stock valued at $518,000 after buying an additional 87 shares in the last quarter. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Wall Street Analyst Weigh In

GOOGL has been the topic of a number of research analyst reports. Citigroup lifted their price target on shares of Alphabet from $195.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, April 25th. Roth Mkm reiterated a “buy” rating and issued a $220.00 target price on shares of Alphabet in a research report on Wednesday, March 19th. Susquehanna decreased their target price on Alphabet from $225.00 to $220.00 and set a “positive” rating on the stock in a research report on Friday, April 25th. Morgan Stanley dropped their target price on Alphabet from $210.00 to $185.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. Finally, DZ Bank cut shares of Alphabet from a “buy” rating to a “hold” rating and set a $198.00 price target on the stock. in a research report on Thursday, February 6th. Ten research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $199.75.

Alphabet Price Performance

Shares of GOOGL opened at $159.53 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. The company has a market cap of $1.94 trillion, a P/E ratio of 19.82, a PEG ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05. The stock has a fifty day moving average price of $158.38 and a 200 day moving average price of $175.12.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The firm had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. During the same period last year, the firm posted $1.89 EPS. On average, research analysts forecast that Alphabet Inc. will post 8.9 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 paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.53%. This is an increase from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s payout ratio is presently 9.36%.

Insiders Place Their Bets

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $155.90, for a total value of $5,066,750.00. Following the transaction, the chief executive officer now owns 2,652,696 shares of the company’s stock, valued at $413,555,306.40. The trade was a 1.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Amie Thuener O’toole sold 2,824 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $187.43, for a total transaction of $529,302.32. Following the completion of the sale, the chief accounting officer now owns 15,024 shares in the company, valued at $2,815,948.32. The trade was a 15.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 179,324 shares of company stock worth $30,153,353. 11.64% of the stock is owned by company insiders.

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.