FFT Wealth Management LLC Sells 5,799 Shares of Alphabet Inc. $GOOGL

FFT Wealth Management LLC lessened its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 35.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,736 shares of the information services provider's stock after selling 5,799 shares during the quarter. Alphabet makes up about 0.6% of FFT Wealth Management LLC's portfolio, making the stock its 28th biggest position. FFT Wealth Management LLC's holdings in Alphabet were worth $3,360,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Symmetry Partners LLC boosted its position in Alphabet by 0.4% during the 4th quarter. Symmetry Partners LLC now owns 7,912 shares of the information services provider's stock valued at $2,476,000 after acquiring an additional 30 shares in the last quarter. Members Trust Co boosted its position in shares of Alphabet by 0.5% in the 4th quarter. Members Trust Co now owns 6,434 shares of the information services provider's stock worth $2,014,000 after purchasing an additional 31 shares in the last quarter. Altfest L J & Co. Inc. boosted its position in shares of Alphabet by 0.4% in the 4th quarter. Altfest L J & Co. Inc. now owns 7,952 shares of the information services provider's stock worth $2,489,000 after purchasing an additional 31 shares in the last quarter. Insight 2811 Inc. boosted its position in shares of Alphabet by 1.0% in the 4th quarter. Insight 2811 Inc. now owns 3,124 shares of the information services provider's stock worth $978,000 after purchasing an additional 32 shares in the last quarter. Finally, LJI Wealth Management LLC boosted its position in shares of Alphabet by 0.4% in the 4th quarter. LJI Wealth Management LLC now owns 7,265 shares of the information services provider's stock worth $2,274,000 after purchasing an additional 32 shares in the last quarter. Institutional investors own 40.03% of the company's stock.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of Alphabet stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $307.89, for a total value of $10,006,425.00. Following the completion of the transaction, the chief executive officer owned 1,642,060 shares in the company, valued at $505,573,853.40. The trade was a 1.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Hennessy sold 1,050 shares of Alphabet stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $393.26, for a total value of $412,923.00. Following the completion of the transaction, the director owned 2,531 shares of the company's stock, valued at approximately $995,341.06. This represents a 29.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 193,016 shares of company stock worth $17,282,549 over the last quarter. Company insiders own 11.61% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Stifel Nicolaus set a $420.00 price objective on Alphabet and gave the stock a "buy" rating in a research report on Thursday, April 30th. Bank of America raised their price objective on Alphabet from $370.00 to $430.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. President Capital raised their price objective on Alphabet from $375.00 to $465.00 and gave the stock a "buy" rating in a research report on Tuesday, May 5th. Arete Research raised their price objective on Alphabet from $405.00 to $425.00 and gave the stock a "buy" rating in a research report on Monday, May 18th. Finally, Oppenheimer raised their price objective on Alphabet from $425.00 to $445.00 and gave the stock an "outperform" rating in a research report on Friday, May 15th. Two research analysts have rated the stock with a Strong Buy rating, forty-seven have given a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $413.13.

Alphabet News Roundup

Here are the key news stories impacting Alphabet this week:

• Positive Sentiment: Alphabet secured a major cloud deal with SpaceX, adding a high-profile customer and boosting the investment case for its AI infrastructure business. SpaceX signs cloud deal with Google
• Positive Sentiment: New Street Research raised its price target on Alphabet to $455 and reiterated a buy rating, signaling continued Wall Street confidence. MarketScreener
• Neutral Sentiment: Reports said Google’s AI search and chatbot products faced criticism after an audit found many chatbot responses on elections were flawed, which may keep pressure on Alphabet’s AI credibility. Over 90% of AI chatbot answers about midterm elections are flawed, stunning analysis shows
• Negative Sentiment: Alphabet’s large equity raise and higher AI capex guidance are still weighing on sentiment because investors are questioning how quickly those investments will pay off. Alphabet is seeking fresh capital as stock's 4-week losing streak tests investor appetite
• Negative Sentiment: Google also faces regulatory pressure in the UK over publisher-content rules in AI search, adding another policy risk for the business. Google search facing UK 'conduct requirement'

Alphabet Price Performance

NASDAQ:GOOGL opened at $368.53 on Monday. Alphabet Inc. has a one year low of $162.00 and a one year high of $408.61. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.92 and a current ratio of 1.92. The firm has a market cap of $4.47 trillion, a price-to-earnings ratio of 28.11, a PEG ratio of 1.58 and a beta of 1.23. The firm's fifty day moving average is $352.70 and its two-hundred day moving average is $328.11.

Alphabet (NASDAQ:GOOGL - Get Free Report) last issued its earnings results on Wednesday, April 29th. The information services provider reported $5.11 EPS for the quarter, topping analysts' consensus estimates of $2.64 by $2.47. Alphabet had a return on equity of 38.99% and a net margin of 37.92%.The firm had revenue of $109.90 billion for the quarter, compared to the consensus estimate of $106.98 billion. Research analysts expect that Alphabet Inc. will post 14.29 EPS for the current year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 8th will be paid a $0.22 dividend. The ex-dividend date is Monday, June 8th. This represents a $0.88 annualized dividend and a dividend yield of 0.2%. This is a boost from Alphabet's previous quarterly dividend of $0.21. Alphabet's dividend payout ratio (DPR) is presently 6.71%.

Alphabet Company Profile

Alphabet Inc is the holding company created in 2015 to organize Google and a portfolio of businesses developing technologies beyond Google's core internet services. Its principal operations are led by Google, which builds and operates consumer-facing products such as Google Search, YouTube, Android, Chrome, Gmail, Google Maps and Google Workspace, as well as advertising platforms (Google Ads and AdSense) that historically generate the majority of its revenue. Google also develops consumer hardware (Pixel phones, Nest smart-home devices, Chromecast) and developer and distribution platforms such as Google Play.

Beyond Google's consumer and advertising businesses, Alphabet invests in enterprise and infrastructure offerings through Google Cloud, which provides cloud computing, data analytics and productivity services to businesses and institutions.

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