Carolinas Wealth Consulting LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 69.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,463 shares of the information services provider's stock after selling 18,933 shares during the period. Carolinas Wealth Consulting LLC's holdings in Alphabet were worth $1,602,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. JPMorgan Chase & Co. grew its position in Alphabet by 7.7% during the third quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider's stock worth $10,559,240,000 after buying an additional 4,567,275 shares in the last quarter. Wealth Group Ltd. grew its position in Alphabet by 5.2% during the fourth quarter. Wealth Group Ltd. now owns 1,582 shares of the information services provider's stock worth $299,000 after buying an additional 78 shares in the last quarter. Capital & Planning LLC grew its position in Alphabet by 34.3% during the fourth quarter. Capital & Planning LLC now owns 4,383 shares of the information services provider's stock worth $830,000 after buying an additional 1,119 shares in the last quarter. Aspiriant LLC grew its position in Alphabet by 1.4% during the fourth quarter. Aspiriant LLC now owns 80,473 shares of the information services provider's stock worth $15,233,000 after buying an additional 1,104 shares in the last quarter. Finally, Solidarity Wealth LLC grew its position in Alphabet by 3.5% during the fourth quarter. Solidarity Wealth LLC now owns 104,013 shares of the information services provider's stock worth $19,690,000 after buying an additional 3,516 shares in the last quarter. Institutional investors own 40.03% of the company's stock.
Insider Buying and Selling
In related news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $165.53, for a total value of $33,106.00. Following the completion of the sale, the director now owns 7,813 shares of the company's stock, valued at $1,293,285.89. The trade was a 2.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Amie Thuener O'toole sold 1,374 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $173.47, for a total value of $238,347.78. Following the sale, the chief accounting officer now directly owns 15,024 shares of the company's stock, valued at $2,606,213.28. This represents a 8.38% decrease in their position. The disclosure for this sale can be found here. Insiders sold 164,654 shares of company stock valued at $26,793,380 over the last 90 days. Company insiders own 11.64% of the company's stock.
Alphabet Stock Performance
Shares of Alphabet stock traded up $4.43 during trading on Tuesday, hitting $172.90. 37,917,640 shares of the company's stock traded hands, compared to its average volume of 29,780,742. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $207.05. The business has a 50-day simple moving average of $158.67 and a 200-day simple moving average of $174.76. The stock has a market capitalization of $2.10 trillion, a P/E ratio of 21.48, a PEG ratio of 1.34 and a beta of 1.01. 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 announced its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.02 by $0.79. The firm had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. During the same quarter last year, the firm posted $1.89 EPS. As a group, analysts forecast that Alphabet Inc. will post 8.9 EPS for the current year.
Alphabet Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend is Monday, June 9th. This is an increase from Alphabet's previous quarterly dividend of $0.20. Alphabet's dividend payout ratio (DPR) is presently 9.36%.
Analyst Ratings Changes
A number of brokerages have recently commented on GOOGL. UBS Group set a $195.00 price target on Alphabet in a research note on Friday, April 25th. DA Davidson dropped their price target on Alphabet from $200.00 to $160.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Oppenheimer boosted their price objective on shares of Alphabet from $185.00 to $200.00 and gave the stock an "outperform" rating in a research note on Friday, April 25th. KeyCorp lifted their target price on Alphabet from $185.00 to $195.00 and gave the stock an "overweight" rating in a report on Friday, April 25th. Finally, Tigress Financial increased their price target on Alphabet from $220.00 to $240.00 and gave the company a "strong-buy" rating in a research note on Wednesday, April 30th. Ten research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $199.75.
View Our Latest Stock Report on GOOGL
About Alphabet
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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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