Moran Wealth Management LLC Trims Stake in Alphabet Inc. (NASDAQ:GOOGL)

Moran Wealth Management LLC cut its holdings in shares of Alphabet Inc. (NASDAQ:GOOGLFree Report) by 0.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 85,652 shares of the information services provider’s stock after selling 676 shares during the quarter. Moran Wealth Management LLC’s holdings in Alphabet were worth $11,965,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Activity

In related news, CEO Sundar Pichai sold 22,500 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $143.08, for a total transaction of $3,219,300.00. Following the completion of the transaction, the chief executive officer now directly owns 2,355,191 shares of the company’s stock, valued at $336,980,728.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $143.08, for a total value of $3,219,300.00. Following the completion of the sale, the chief executive officer now owns 2,355,191 shares of the company’s stock, valued at $336,980,728.28. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John L. Hennessy sold 300 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $139.51, for a total transaction of $41,853.00. Following the transaction, 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. Insiders have sold a total of 276,511 shares of company stock valued at $41,234,695 over the last quarter. Corporate insiders own 0.88% of the company’s stock.

Alphabet Stock Up 1.1 %

GOOGL opened at $176.06 on Monday. Alphabet Inc. has a 52 week low of $115.35 and a 52 week high of $176.26. The business has a 50 day moving average price of $157.22 and a two-hundred day moving average price of $145.29. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.05. The company has a market cap of $2.18 trillion, a PE ratio of 27.00, a P/E/G ratio of 1.35 and a beta of 1.02.

Alphabet (NASDAQ:GOOGLGet Free Report) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.89 EPS for the quarter, topping the consensus estimate of $1.49 by $0.40. Alphabet had a return on equity of 29.52% and a net margin of 25.90%. The business had revenue of $80.54 billion during the quarter, compared to analysts’ expectations of $66.04 billion. During the same quarter in the prior year, the business earned $1.17 earnings per share. As a group, research analysts anticipate that Alphabet Inc. will post 7.61 EPS for the current year.

Alphabet Dividend Announcement

The company also recently announced 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. This represents a $0.80 annualized dividend and a dividend yield of 0.45%. The ex-dividend date is Monday, June 10th. Alphabet’s dividend payout ratio (DPR) is presently 12.27%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Barclays raised their price objective on shares of Alphabet from $173.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Wolfe Research raised their price target on shares of Alphabet from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Canaccord Genuity Group upped their price objective on Alphabet from $190.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. BMO Capital Markets reiterated an “outperform” rating and issued a $215.00 target price on shares of Alphabet in a report on Wednesday, May 15th. Finally, Raymond James upped their price target on Alphabet from $160.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Five equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet presently has a consensus rating of “Moderate Buy” and a consensus target price of $190.60.

Read Our Latest Report on Alphabet

Alphabet Profile

(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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Institutional Ownership by Quarter for Alphabet (NASDAQ:GOOGL)

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