Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Smith & Howard Wealth Management LLC

Smith & Howard Wealth Management LLC reduced its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,298 shares of the information services provider’s stock after selling 79 shares during the period. Smith & Howard Wealth Management LLC’s holdings in Alphabet were worth $461,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC lifted its position in shares of Alphabet by 5.6% during the 3rd quarter. FMR LLC now owns 227,317,469 shares of the information services provider’s stock valued at $29,746,764,000 after acquiring an additional 12,070,681 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of Alphabet by 4,894.1% during the fourth quarter. International Assets Investment Management LLC now owns 5,445,396 shares of the information services provider’s stock worth $7,606,670,000 after purchasing an additional 5,336,359 shares during the period. J.P. Morgan Private Wealth Advisors LLC purchased a new stake in shares of Alphabet during the third quarter valued at $634,465,000. Ontario Teachers Pension Plan Board acquired a new position in shares of Alphabet in the 3rd quarter valued at $601,545,000. Finally, Lone Pine Capital LLC purchased a new position in Alphabet in the 3rd quarter worth about $407,367,000. 40.03% of the stock is currently owned by institutional investors.

Alphabet Stock Down 3.4 %

Shares of Alphabet stock opened at $166.15 on Tuesday. Alphabet Inc. has a 12-month low of $103.71 and a 12-month high of $174.71. The stock has a market capitalization of $2.07 trillion, a P/E ratio of 25.48, a PEG ratio of 1.57 and a beta of 1.05. The company has a quick ratio of 2.10, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The stock has a 50 day moving average price of $148.36 and a two-hundred day moving average price of $141.62.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.40. The business had revenue of $80.54 billion during the quarter, compared to the consensus estimate of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same period in the prior year, the firm earned $1.17 EPS. Equities analysts expect that Alphabet Inc. will post 6.82 earnings per share for the current year.

Alphabet Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 10th will be paid a $0.20 dividend. The ex-dividend date is Monday, June 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.48%.

Wall Street Analyst Weigh In

Several brokerages have commented on GOOGL. Wolfe Research raised their target price on shares of Alphabet from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday. Piper Sandler reaffirmed an “overweight” rating and issued a $200.00 price objective (up previously from $160.00) on shares of Alphabet in a research note on Friday. Stifel Nicolaus boosted their target price on shares of Alphabet from $174.00 to $196.00 and gave the company a “buy” rating in a research note on Friday. Citigroup increased their target price on Alphabet from $168.00 to $190.00 and gave the company a “buy” rating in a report on Friday. Finally, TD Cowen lifted their price target on Alphabet from $170.00 to $200.00 and gave the company a “buy” rating in a report on Friday. Five equities research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average target price of $189.44.

Insider Buying and Selling

In other news, SVP Prabhakar Raghavan sold 3,258 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $155.97, for a total value of $508,150.26. Following the completion of the sale, the senior vice president now directly owns 144,685 shares of the company’s stock, valued at $22,566,519.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Prabhakar Raghavan sold 3,258 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $155.97, for a total transaction of $508,150.26. Following the completion of the transaction, the senior vice president now owns 144,685 shares of the company’s stock, valued at $22,566,519.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John L. Hennessy sold 300 shares of Alphabet stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $139.51, for a total value of $41,853.00. Following the sale, the director now directly owns 9,291 shares in the company, valued at $1,296,187.41. The disclosure for this sale can be found here. In the last 90 days, insiders sold 253,209 shares of company stock valued at $36,711,144. Insiders own 0.88% of the company’s stock.

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.