Campbell Newman Asset Management Inc. Cuts Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Campbell Newman Asset Management Inc. trimmed its position in Alphabet Inc. (NASDAQ:GOOGL) by 0.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,545 shares of the information services provider’s stock after selling 73 shares during the period. Campbell Newman Asset Management Inc.’s holdings in Alphabet were worth $6,729,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Conrad Siegel Investment Advisors Inc. boosted its holdings in Alphabet by 0.5% in the 4th quarter. Conrad Siegel Investment Advisors Inc. now owns 9,845 shares of the information services provider’s stock worth $1,864,000 after acquiring an additional 53 shares during the period. Denver PWM LLC raised its stake in shares of Alphabet by 25.4% during the third 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 during the period. Ignite Planners LLC lifted its position in shares of Alphabet by 0.4% during the fourth quarter. Ignite Planners LLC now owns 15,078 shares of the information services provider’s stock worth $2,892,000 after purchasing an additional 57 shares in the last quarter. First PREMIER Bank boosted 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 purchasing an additional 61 shares during the period. Finally, Cutler Investment Counsel LLC grew its holdings 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 valued at $607,000 after purchasing an additional 61 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. KeyCorp boosted their price objective on shares of Alphabet from $215.00 to $225.00 and gave the stock an “overweight” rating in a report on Friday, January 10th. Wedbush boosted their price target on Alphabet from $210.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday, January 6th. Wells Fargo & Company raised their price objective on Alphabet from $187.00 to $190.00 and gave the company an “equal weight” rating in a research note on Monday. China Renaissance raised Alphabet from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Finally, Truist Financial raised their price target on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Nine equities research 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. According to data from MarketBeat, Alphabet has an average rating of “Moderate Buy” and an average price target of $208.15.

Alphabet Trading Down 1.4 %

NASDAQ:GOOGL opened at $192.91 on Friday. The stock has a market cap of $2.36 trillion, a price-to-earnings ratio of 25.58, a PEG ratio of 1.22 and a beta of 0.98. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. Alphabet Inc. has a 1 year low of $130.66 and a 1 year high of $201.42. The business has a fifty day moving average of $183.83 and a 200-day moving average of $173.20.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the firm posted $1.55 EPS. Equities analysts predict that Alphabet Inc. will post 8.03 earnings per share for the current year.

Alphabet Announces Dividend

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

Insiders Place Their Bets

In related news, insider John Kent Walker sold 16,820 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $192.62, for a total transaction of $3,239,868.40. Following the completion of the sale, the insider now directly owns 43,981 shares in the company, valued at approximately $8,471,620.22. This trade represents a 27.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Amie Thuener O’toole sold 2,834 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $194.32, for a total value of $550,702.88. Following the completion of the transaction, the chief accounting officer now directly owns 17,847 shares in the company, valued at $3,468,029.04. This represents a 13.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 133,387 shares of company stock worth $24,368,654 over the last ninety days. Company insiders own 11.55% of the company’s stock.

Alphabet 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.