SMART Wealth LLC Lowers Position in Alphabet Inc. (NASDAQ:GOOGL)

SMART Wealth LLC decreased its position in Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 67.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,533 shares of the information services provider's stock after selling 5,169 shares during the period. SMART Wealth LLC's holdings in Alphabet were worth $392,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in GOOGL. Burt Wealth Advisors grew its holdings in Alphabet by 1.0% in the fourth quarter. Burt Wealth Advisors now owns 5,307 shares of the information services provider's stock valued at $1,005,000 after purchasing an additional 54 shares during the period. Perritt Capital Management Inc grew its holdings in Alphabet by 10.4% in the fourth quarter. Perritt Capital Management Inc now owns 618 shares of the information services provider's stock valued at $117,000 after purchasing an additional 58 shares during the period. Nia Impact Advisors LLC grew its holdings in Alphabet by 0.3% in the fourth quarter. Nia Impact Advisors LLC now owns 17,161 shares of the information services provider's stock valued at $3,249,000 after purchasing an additional 59 shares during the period. Hanlon Investment Management Inc. grew its holdings in Alphabet by 1.7% in the fourth quarter. Hanlon Investment Management Inc. now owns 3,553 shares of the information services provider's stock valued at $673,000 after purchasing an additional 60 shares during the period. Finally, Enzi Wealth grew its holdings in Alphabet by 2.5% in the first quarter. Enzi Wealth now owns 2,561 shares of the information services provider's stock valued at $408,000 after purchasing an additional 62 shares during the period. Hedge funds and other institutional investors own 40.03% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company boosted their target price on shares of Alphabet from $175.00 to $177.00 and gave the company an "equal weight" rating in a report on Tuesday. Jefferies Financial Group lowered their target price on shares of Alphabet from $235.00 to $200.00 and set a "buy" rating for the company in a report on Monday, March 31st. Sanford C. Bernstein boosted their target price on shares of Alphabet from $165.00 to $185.00 and gave the company a "market perform" rating in a report on Friday, April 25th. Roth Capital restated a "buy" rating and issued a $205.00 target price (up from $180.00) on shares of Alphabet in a report on Tuesday. Finally, BNP Paribas Exane reiterated a "neutral" rating and set a $172.00 price objective on shares of Alphabet in a research note on Friday, June 27th. Ten equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, Alphabet has an average rating of "Moderate Buy" and a consensus price target of $199.61.

Insider Activity at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 9,000 shares of the stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total transaction of $1,575,000.00. Following the sale, the director directly owned 255,400 shares of the company's stock, valued at approximately $44,695,000. This represents a 3.40% decrease in their ownership of the stock. 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 600 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $105,000.00. Following the sale, the director directly owned 6,813 shares in the company, valued at $1,192,275. This trade represents a 8.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 215,643 shares of company stock valued at $36,330,928 over the last ninety days. Corporate insiders own 11.64% of the company's stock.

Alphabet Trading Up 0.6%

GOOGL opened at $177.62 on Friday. The stock has a market capitalization of $2.16 trillion, a PE ratio of 19.80, a P/E/G ratio of 1.24 and a beta of 1.00. The firm's fifty day moving average price is $169.99 and its 200 day moving average price is $173.57. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.77 and a quick ratio of 1.77. 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 posted its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.79. The firm had revenue of $76.49 billion for the quarter, compared to analysts' expectations of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. During the same period in the prior year, the company posted $1.89 earnings per share. As a group, research analysts expect that Alphabet Inc. will post 8.9 EPS for the current fiscal year.

Alphabet Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 9th were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, June 9th. This is a boost from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 0.47%. Alphabet's dividend payout ratio is currently 9.36%.

Alphabet 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.

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