Elyxium Wealth LLC Lowers Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Elyxium Wealth LLC lessened its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 75.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,957 shares of the information services provider's stock after selling 12,270 shares during the quarter. Elyxium Wealth LLC's holdings in Alphabet were worth $749,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Compass Planning Associates Inc purchased a new position in shares of Alphabet during the fourth quarter worth about $30,000. E Fund Management Hong Kong Co. Ltd. boosted its position in Alphabet by 518.8% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider's stock worth $37,000 after purchasing an additional 166 shares in the last quarter. Fiduciary Advisors Inc. purchased a new stake in Alphabet in the 4th quarter valued at approximately $39,000. PayPay Securities Corp lifted its stake in shares of Alphabet by 36.1% during the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider's stock valued at $46,000 after buying an additional 65 shares during the period. Finally, Anderson Financial Strategies LLC purchased a new position in shares of Alphabet during the 4th quarter worth about $49,000. Hedge funds and other institutional investors own 40.03% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on GOOGL. Westpark Capital reaffirmed a "buy" rating and set a $210.00 price target on shares of Alphabet in a research note on Thursday. Wells Fargo & Company lifted their price target on shares of Alphabet from $167.00 to $175.00 and gave the stock an "equal weight" rating in a research note on Friday, April 25th. DA Davidson dropped their price target on shares of Alphabet from $200.00 to $160.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Citigroup boosted their price target on Alphabet from $195.00 to $200.00 and gave the company a "buy" rating in a report on Friday, April 25th. Finally, Jefferies Financial Group lowered their price target on Alphabet from $235.00 to $200.00 and set a "buy" rating for the company in a report on Monday, March 31st. Ten analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $199.75.

Insider Buying and Selling

In other Alphabet news, insider John Kent Walker sold 17,690 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $185.51, for a total value of $3,281,671.90. Following the completion of the transaction, the insider now owns 43,111 shares in the company, valued at approximately $7,997,521.61. This represents a 29.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $155.90, for a total value of $5,066,750.00. Following the completion of the transaction, the chief executive officer now owns 2,652,696 shares of the company's stock, valued at approximately $413,555,306.40. This trade represents a 1.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold 179,324 shares of company stock worth $30,153,353 in the last quarter. 11.64% of the stock is owned by insiders.

Alphabet Stock Up 3.7%

Shares of GOOGL traded up $5.71 during trading hours on Monday, hitting $158.46. The stock had a trading volume of 44,038,659 shares, compared to its average volume of 28,839,861. The firm has a market capitalization of $1.92 trillion, a P/E ratio of 19.68, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. Alphabet Inc. has a 1-year low of $140.53 and a 1-year high of $207.05. The firm has a 50 day simple moving average of $158.93 and a 200-day simple moving average of $175.27. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.79. The company had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. During the same quarter in the prior year, the business earned $1.89 earnings per share. Sell-side analysts predict that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders 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 a positive change from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.53%. Alphabet's payout ratio is presently 9.36%.

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.