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Raab & Moskowitz Asset Management LLC Sells 2,534 Shares of Alphabet Inc. $GOOGL

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Key Points

  • Raab & Moskowitz Asset Management LLC cut its Alphabet stake by 6.8%, selling 2,534 shares in the quarter and now holds 34,713 shares worth $8.439 million, making Alphabet 1.9% of the fund and its 15th-largest holding.
  • Alphabet paid a $0.21 quarterly dividend on March 16 (annualized $0.84, ~0.3% yield), and analysts have been raising price targets and reiterating buy/overweight ratings—MarketBeat shows a consensus "Moderate Buy" with a $367.18 target—bolstering optimism around its AI and cloud positioning.
  • Five stocks to consider instead of Alphabet.

Raab & Moskowitz Asset Management LLC cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 6.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 34,713 shares of the information services provider's stock after selling 2,534 shares during the quarter. Alphabet comprises 1.9% of Raab & Moskowitz Asset Management LLC's portfolio, making the stock its 15th biggest holding. Raab & Moskowitz Asset Management LLC's holdings in Alphabet were worth $8,439,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Delta Asset Management LLC TN boosted its holdings in shares of Alphabet by 0.6% during the 3rd quarter. Delta Asset Management LLC TN now owns 6,153 shares of the information services provider's stock worth $1,496,000 after buying an additional 37 shares during the period. Matisse Capital raised its holdings in Alphabet by 0.3% in the 3rd quarter. Matisse Capital now owns 14,814 shares of the information services provider's stock valued at $3,601,000 after acquiring an additional 38 shares during the period. Rialto Wealth Management LLC lifted its position in Alphabet by 1.7% during the third quarter. Rialto Wealth Management LLC now owns 2,226 shares of the information services provider's stock worth $541,000 after acquiring an additional 38 shares during the last quarter. Hodges Capital Management Inc. lifted its position in Alphabet by 0.5% during the third quarter. Hodges Capital Management Inc. now owns 6,963 shares of the information services provider's stock worth $1,693,000 after acquiring an additional 38 shares during the last quarter. Finally, Wilkins Miller Wealth Management LLC boosted its holdings in shares of Alphabet by 0.9% during the third quarter. Wilkins Miller Wealth Management LLC now owns 4,052 shares of the information services provider's stock worth $985,000 after acquiring an additional 38 shares during the period. Institutional investors own 40.03% of the company's stock.

Key Alphabet News

Here are the key news stories impacting Alphabet this week:

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on GOOGL shares. Piper Sandler reaffirmed an "overweight" rating and issued a $395.00 target price (up from $365.00) on shares of Alphabet in a research report on Thursday, February 5th. Bank of America lifted their price target on Alphabet from $335.00 to $370.00 and gave the stock a "buy" rating in a report on Tuesday, January 13th. DA Davidson boosted their price target on Alphabet from $300.00 to $310.00 and gave the company a "neutral" rating in a research note on Thursday, February 5th. KeyCorp set a $370.00 price objective on Alphabet and gave the company an "overweight" rating in a report on Thursday, February 5th. Finally, Sanford C. Bernstein increased their price objective on Alphabet from $305.00 to $335.00 and gave the stock a "market perform" rating in a research report on Monday, February 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, forty-three have issued a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $367.18.

View Our Latest Analysis on Alphabet

Alphabet Trading Up 1.8%

Shares of NASDAQ:GOOGL opened at $310.92 on Wednesday. The business's 50 day simple moving average is $318.83 and its 200 day simple moving average is $291.74. Alphabet Inc. has a 1 year low of $140.53 and a 1 year high of $349.00. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.01 and a quick ratio of 2.01. The company has a market capitalization of $3.76 trillion, a P/E ratio of 28.76, a P/E/G ratio of 1.79 and a beta of 1.10.

Alphabet (NASDAQ:GOOGL - Get Free Report) last announced its quarterly earnings data on Wednesday, February 4th. The information services provider reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.57 by $0.25. The firm had revenue of $113.83 billion during the quarter, compared to analysts' expectations of $111.24 billion. Alphabet had a return on equity of 35.01% and a net margin of 32.81%. On average, research analysts anticipate that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 9th were given a $0.21 dividend. The ex-dividend date was Monday, March 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.3%. Alphabet's dividend payout ratio (DPR) is presently 7.77%.

Insider Buying and Selling

In other Alphabet news, CAO Amie Thuener O'toole sold 955 shares of the firm's stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $298.00, for a total value of $284,590.00. Following the transaction, the chief accounting officer directly owned 9,918 shares of the company's stock, valued at $2,955,564. This trade represents a 8.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $321.21, for a total transaction of $10,439,325.00. Following the completion of the transaction, the chief executive officer directly owned 2,244,372 shares in the company, valued at approximately $720,914,730.12. This represents a 1.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 2,076,615 shares of company stock worth $107,809,111 in the last ninety days. 11.55% of the stock is owned by company insiders.

Alphabet Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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