Sterling Investment Advisors Ltd. Sells 2,116 Shares of Alphabet Inc. $GOOGL

Sterling Investment Advisors Ltd. reduced its holdings in Alphabet Inc. (NASDAQ:GOOGLFree Report) by 3.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 55,294 shares of the information services provider’s stock after selling 2,116 shares during the quarter. Alphabet accounts for approximately 3.0% of Sterling Investment Advisors Ltd.’s portfolio, making the stock its 4th largest position. Sterling Investment Advisors Ltd.’s holdings in Alphabet were worth $17,307,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Allied Investment Advisors LLC lifted its holdings in Alphabet by 2.3% in the fourth quarter. Allied Investment Advisors LLC now owns 3,712 shares of the information services provider’s stock valued at $1,162,000 after buying an additional 83 shares during the period. Wiser Advisor Group LLC lifted its holdings in Alphabet by 0.9% in the fourth quarter. Wiser Advisor Group LLC now owns 15,061 shares of the information services provider’s stock valued at $4,714,000 after buying an additional 129 shares during the period. Global Assets Advisory LLC lifted its holdings in Alphabet by 1.0% in the fourth quarter. Global Assets Advisory LLC now owns 20,691 shares of the information services provider’s stock valued at $6,476,000 after buying an additional 200 shares during the period. Eukles Asset Management lifted its holdings in Alphabet by 6,469.6% in the fourth quarter. Eukles Asset Management now owns 16,227 shares of the information services provider’s stock valued at $5,079,000 after buying an additional 15,980 shares during the period. Finally, LGL Partners LLC bought a new stake in Alphabet in the fourth quarter valued at approximately $218,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on GOOGL. HSBC reaffirmed a “buy” rating and issued a $420.00 target price (down from $435.00) on shares of Alphabet in a research note on Tuesday, June 2nd. Bank of America upped their target price on shares of Alphabet from $370.00 to $430.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. KeyCorp reaffirmed an “overweight” rating and issued a $425.00 target price on shares of Alphabet in a research note on Wednesday, May 20th. Freedom Capital downgraded shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Finally, Rothschild & Co Redburn upped their target price on shares of Alphabet from $390.00 to $430.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, forty-seven have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $413.13.

View Our Latest Research Report on GOOGL

Insider Buying and Selling at Alphabet

In related news, CAO Amie Thuener O’toole sold 617 shares of the firm’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $289.63, for a total value of $178,701.71. Following the completion of the transaction, the chief accounting officer owned 10,093 shares of the company’s stock, valued at approximately $2,923,235.59. This trade represents a 5.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frances Arnold sold 102 shares of the firm’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $381.00, for a total transaction of $38,862.00. Following the completion of the transaction, the director directly owned 18,721 shares of the company’s stock, valued at approximately $7,132,701. This trade represents a 0.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 193,016 shares of company stock valued at $17,282,549 over the last quarter. 11.61% of the stock is currently owned by corporate insiders.

Key Stories Impacting Alphabet

Here are the key news stories impacting Alphabet this week:

Alphabet Trading Down 1.4%

Shares of NASDAQ:GOOGL opened at $363.31 on Tuesday. Alphabet Inc. has a 12 month low of $162.00 and a 12 month high of $408.61. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.16. The company’s fifty day simple moving average is $354.35 and its 200 day simple moving average is $328.67. The firm has a market cap of $4.40 trillion, a price-to-earnings ratio of 27.71, a PEG ratio of 1.58 and a beta of 1.23.

Alphabet (NASDAQ:GOOGLGet Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The information services provider reported $5.11 EPS for the quarter, topping analysts’ consensus estimates of $2.64 by $2.47. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The business had revenue of $109.90 billion for the quarter, compared to analyst estimates of $106.98 billion. As a group, research analysts forecast that Alphabet Inc. will post 14.29 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 8th will be issued a dividend of $0.22 per share. The ex-dividend date is Monday, June 8th. This is a positive change from Alphabet’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.2%. Alphabet’s dividend payout ratio (DPR) is 6.41%.

Alphabet Company Profile

(Free Report)

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google’s core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google’s consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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