Alphabet Inc. (NASDAQ:GOOGL) is Studio Investment Management LLC’s 10th Largest Position

Studio Investment Management LLC lessened its position in Alphabet Inc. (NASDAQ:GOOGL) by 1.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 53,542 shares of the information services provider’s stock after selling 945 shares during the quarter. Alphabet makes up about 2.2% of Studio Investment Management LLC’s holdings, making the stock its 10th biggest holding. Studio Investment Management LLC’s holdings in Alphabet were worth $10,136,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Compass Planning Associates Inc acquired a new position in Alphabet in the 4th quarter valued at $30,000. E Fund Management Hong Kong Co. Ltd. boosted 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 valued at $37,000 after purchasing an additional 166 shares during the period. Fiduciary Advisors Inc. bought a new stake in Alphabet in the 4th quarter valued at $39,000. PayPay Securities Corp boosted 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 valued at $46,000 after purchasing an additional 65 shares during the period. Finally, Anderson Financial Strategies LLC bought a new stake in Alphabet in the 4th quarter valued at $49,000. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Buying and Selling

In other news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction 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 completion of the sale, the chief executive officer now owns 2,652,696 shares in the company, valued at $413,555,306.40. The trade was a 1.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Amie Thuener O’toole sold 673 shares of Alphabet stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total transaction of $104,537.09. Following the completion of the sale, the chief accounting officer now owns 15,303 shares of the company’s stock, valued at $2,377,014.99. This represents a 4.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 179,324 shares of company stock worth $30,153,353 in the last ninety days. Company insiders own 11.64% of the company’s stock.

Alphabet Trading Up 1.4%

GOOGL opened at $166.19 on Friday. The company’s 50 day moving average is $158.21 and its 200-day moving average is $175.00. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The company has a market cap of $2.02 trillion, a P/E ratio of 20.64, a PEG ratio of 1.34 and a beta of 1.01.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. The company 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 company posted $1.89 EPS. Equities research analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, June 9th. This is an increase from Alphabet’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.51%. Alphabet’s dividend payout ratio (DPR) is currently 9.36%.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. JMP Securities reissued a “market perform” rating on shares of Alphabet in a report on Tuesday, May 6th. Bank of America increased their price target on shares of Alphabet from $185.00 to $200.00 and gave the company a “buy” rating in a report on Friday, April 25th. Rosenblatt Securities reduced their price target on shares of Alphabet from $205.00 to $189.00 and set a “neutral” rating for the company in a report on Friday, April 25th. Wells Fargo & Company raised their price objective on shares of Alphabet from $167.00 to $175.00 and gave the stock an “equal weight” rating in a report on Friday, April 25th. Finally, Westpark Capital reaffirmed a “buy” rating and set a $210.00 price objective on shares of Alphabet in a report on Thursday, May 8th. Ten equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, Alphabet presently has an average rating of “Moderate Buy” and an average target price of $199.75.

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.