Douglas Lane & Associates LLC Has $45.25 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Douglas Lane & Associates LLC reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 239,044 shares of the information services provider’s stock after selling 1,489 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Alphabet were worth $45,251,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Denver PWM LLC boosted its stake in shares of Alphabet by 25.4% in the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock valued at $47,000 after purchasing an additional 57 shares in the last quarter. First PREMIER Bank increased its stake in shares of Alphabet by 3.8% in the third quarter. First PREMIER Bank now owns 1,655 shares of the information services provider’s stock valued at $275,000 after buying an additional 61 shares during the period. Cutler Investment Counsel LLC boosted its position in Alphabet by 1.7% during the 3rd quarter. Cutler Investment Counsel LLC now owns 3,663 shares of the information services provider’s stock worth $607,000 after buying an additional 61 shares during the period. MKT Advisors LLC increased its position in Alphabet by 0.8% in the 3rd quarter. MKT Advisors LLC now owns 7,363 shares of the information services provider’s stock valued at $1,221,000 after acquiring an additional 62 shares during the period. Finally, Mendota Financial Group LLC lifted its holdings in shares of Alphabet by 19.0% during the third quarter. Mendota Financial Group LLC now owns 401 shares of the information services provider’s stock worth $67,000 after purchasing an additional 64 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Stock Down 0.1 %

NASDAQ:GOOGL traded down $0.23 during trading hours on Wednesday, reaching $195.26. The company’s stock had a trading volume of 15,558,753 shares, compared to its average volume of 22,048,758. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The company has a market capitalization of $2.39 trillion, a P/E ratio of 25.90, a price-to-earnings-growth ratio of 1.35 and a beta of 0.98. The stock has a 50 day moving average price of $181.36 and a two-hundred day moving average price of $172.72. Alphabet Inc. has a 12 month low of $130.66 and a 12 month high of $201.42.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The firm had revenue of $88.27 billion during the quarter, compared to analyst estimates of $72.85 billion. During the same period last year, the firm posted $1.55 EPS. Equities analysts predict that Alphabet Inc. will post 8.01 EPS for the current fiscal year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s dividend payout ratio is currently 10.61%.

Insider Buying and Selling at Alphabet

In related news, Director Kavitark Ram Shriram sold 37,134 shares of the stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total value of $6,870,532.68. Following the completion of the transaction, the director now directly owns 282,832 shares in the company, valued at approximately $52,329,576.64. This represents a 11.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John Kent Walker sold 16,820 shares of the stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the transaction, the insider now directly owns 43,981 shares of the company’s stock, valued at approximately $8,471,620.22. This trade represents a 27.66 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 155,887 shares of company stock worth $27,996,356. Insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on GOOGL. Wells Fargo & Company increased their price target on Alphabet from $182.00 to $187.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. BMO Capital Markets reissued an “outperform” rating and set a $217.00 target price (up previously from $215.00) on shares of Alphabet in a research note on Wednesday, October 30th. Sanford C. Bernstein boosted their price objective on Alphabet from $180.00 to $185.00 and gave the company a “market perform” rating in a research note on Wednesday, October 30th. Citizens Jmp lowered shares of Alphabet from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 2nd. Finally, Bank of America reaffirmed a “buy” rating and set a $210.00 price target on shares of Alphabet in a research note on Monday, December 23rd. Nine investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $206.82.

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.