Ables Iannone Moore & Associates Inc. Has $11.90 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Ables Iannone Moore & Associates Inc. cut its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.7% during the 4th quarter, HoldingsChannel reports. The firm owned 62,878 shares of the information services provider’s stock after selling 433 shares during the period. Alphabet accounts for about 7.3% of Ables Iannone Moore & Associates Inc.’s investment portfolio, making the stock its 4th biggest holding. Ables Iannone Moore & Associates Inc.’s holdings in Alphabet were worth $11,899,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GOOGL. LMR Partners LLP purchased a new position in shares of Alphabet during the third quarter valued at approximately $32,000. Kings Path Partners LLC purchased a new position in Alphabet during the second quarter valued at $36,000. Denver PWM LLC bought a new stake in Alphabet in the second quarter worth $41,000. Quarry LP purchased a new stake in shares of Alphabet in the second quarter worth $53,000. Finally, Teachers Insurance & Annuity Association of America bought a new position in shares of Alphabet during the third quarter valued at $66,000. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Alphabet news, Director John L. Hennessy sold 1,500 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $164.95, for a total transaction of $247,425.00. Following the sale, the director now owns 26,324 shares of the company’s stock, valued at approximately $4,342,143.80. This trade represents a 5.39 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Kent Walker sold 16,820 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $192.62, for a total value of $3,239,868.40. Following the sale, the insider now directly owns 43,981 shares in the company, valued at approximately $8,471,620.22. The trade was a 27.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 155,887 shares of company stock worth $27,996,356 in the last ninety days. 11.55% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on GOOGL. Roth Mkm increased their price objective on shares of Alphabet from $206.00 to $212.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Truist Financial upped their price objective on Alphabet from $220.00 to $225.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Evercore ISI lifted their target price on Alphabet from $200.00 to $205.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Pivotal Research upped their price target on Alphabet from $215.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Wedbush lifted their price objective on Alphabet from $210.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday. Nine investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet has a consensus rating of “Moderate Buy” and a consensus target price of $206.82.

Alphabet Trading Up 2.6 %

Shares of NASDAQ GOOGL traded up $5.08 during midday trading on Monday, hitting $196.87. The company’s stock had a trading volume of 28,339,390 shares, compared to its average volume of 19,960,061. Alphabet Inc. has a 12-month low of $130.66 and a 12-month high of $201.42. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 0.04. The firm has a market cap of $2.41 trillion, a P/E ratio of 26.11, a price-to-earnings-growth ratio of 1.35 and a beta of 0.98. The business’s 50 day moving average is $180.24 and its two-hundred day moving average is $172.46.

Alphabet (NASDAQ:GOOGL) last released its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.29. The business had revenue of $88.27 billion for the quarter, compared to analyst estimates of $72.85 billion. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. During the same quarter last year, the firm posted $1.55 earnings per share. As a group, equities research analysts expect that Alphabet Inc. will post 8.01 EPS for the current year.

Alphabet Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 9th were paid a $0.20 dividend. The ex-dividend date was Monday, December 9th. This represents a $0.80 annualized dividend and a yield of 0.41%. Alphabet’s dividend payout ratio (DPR) is currently 10.61%.

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.