Aberdeen Wealth Management LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 12.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,405 shares of the information services provider's stock after selling 1,950 shares during the quarter. Alphabet makes up about 1.7% of Aberdeen Wealth Management LLC's investment portfolio, making the stock its 11th largest holding. Aberdeen Wealth Management LLC's holdings in Alphabet were worth $2,538,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Bennett Selby Investments LP raised its stake in shares of Alphabet by 4.0% during the 4th quarter. Bennett Selby Investments LP now owns 1,354 shares of the information services provider's stock worth $256,000 after buying an additional 52 shares during the period. Macroview Investment Management LLC increased its stake in Alphabet by 4.2% during the fourth quarter. Macroview Investment Management LLC now owns 1,293 shares of the information services provider's stock worth $245,000 after acquiring an additional 52 shares during the last quarter. Cornerstone Planning Group LLC raised its position in Alphabet by 2.3% in the fourth quarter. Cornerstone Planning Group LLC now owns 2,381 shares of the information services provider's stock valued at $457,000 after purchasing an additional 53 shares during the period. Addison Advisors LLC lifted its stake in Alphabet by 0.7% during the 4th quarter. Addison Advisors LLC now owns 7,527 shares of the information services provider's stock worth $1,425,000 after acquiring an additional 53 shares in the last quarter. Finally, Burt Wealth Advisors increased its stake in Alphabet by 1.0% during the fourth quarter. Burt Wealth Advisors now owns 5,307 shares of the information services provider's stock worth $1,005,000 after purchasing an additional 54 shares during the period. Institutional investors own 40.03% of the company's stock.
Alphabet Price Performance
NASDAQ:GOOGL traded up $4.43 during mid-day trading on Tuesday, hitting $172.90. 37,917,640 shares of the stock traded hands, compared to its average volume of 29,780,742. The business's 50-day moving average price is $158.67 and its 200 day moving average price is $174.76. The company has a market cap of $2.10 trillion, a PE ratio of 21.48, a price-to-earnings-growth ratio of 1.34 and a beta of 1.01. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05.
Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data 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. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. The firm had revenue of $76.49 billion during the quarter, compared to the consensus estimate of $89.30 billion. During the same quarter in the previous year, the company posted $1.89 earnings per share. On average, analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.
Alphabet Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 9th will be paid a dividend of $0.21 per share. This is an increase from Alphabet's previous quarterly dividend of $0.20. The ex-dividend date is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.49%. Alphabet's dividend payout ratio (DPR) is currently 9.36%.
Insider Activity
In other Alphabet news, Director John L. Hennessy sold 600 shares of the company's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total value of $105,000.00. Following the completion of the sale, the director now directly owns 6,813 shares in the company, valued at approximately $1,192,275. This represents a 8.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the company's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total value of $5,153,200.00. Following the sale, the chief executive officer now owns 2,717,696 shares of the company's stock, valued at $430,917,877.76. This trade represents a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 164,654 shares of company stock worth $26,793,380 over the last 90 days. 11.64% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on the company. Truist Financial lowered their price objective on Alphabet from $220.00 to $200.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Morgan Stanley cut their target price on shares of Alphabet from $210.00 to $185.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. JMP Securities reiterated a "market perform" rating on shares of Alphabet in a research note on Wednesday, May 21st. Oppenheimer increased their price target on shares of Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a report on Friday, April 25th. Finally, DZ Bank lowered shares of Alphabet from a "buy" rating to a "hold" rating and set a $198.00 target price on the stock. in a research report on Thursday, February 6th. Ten research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $199.75.
Check Out Our Latest Stock Analysis on Alphabet
Alphabet Company Profile
(
Free Report)
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.
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