Able Wealth Management LLC Grows Position in Alphabet Inc. (NASDAQ:GOOGL)

Able Wealth Management LLC lifted its stake in Alphabet Inc. (NASDAQ:GOOGL) by 4.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,911 shares of the information services provider’s stock after purchasing an additional 123 shares during the quarter. Able Wealth Management LLC’s holdings in Alphabet were worth $551,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. LMR Partners LLP purchased a new stake in Alphabet in the third quarter valued at approximately $32,000. E Fund Management Hong Kong Co. Ltd. raised its position in Alphabet by 518.8% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 198 shares of the information services provider’s stock valued at $37,000 after purchasing an additional 166 shares in the last quarter. Fiduciary Advisors Inc. purchased a new position in Alphabet in the fourth quarter worth approximately $39,000. PayPay Securities Corp grew its stake in shares of Alphabet by 36.1% during the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock worth $46,000 after purchasing an additional 65 shares in the last quarter. Finally, Denver PWM LLC boosted its position in shares of Alphabet by 25.4% during the 3rd quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after acquiring an additional 57 shares in the last quarter. 40.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on GOOGL. Citigroup decreased their price objective on Alphabet from $232.00 to $229.00 and set a “buy” rating for the company in a report on Wednesday, February 5th. Robert W. Baird reiterated an “outperform” rating and set a $205.00 target price on shares of Alphabet in a research report on Tuesday, December 10th. Loop Capital increased their price target on shares of Alphabet from $170.00 to $185.00 and gave the company a “hold” rating in a report on Wednesday, November 6th. DZ Bank cut Alphabet from a “buy” rating to a “hold” rating and set a $198.00 price objective for the company. in a report on Thursday, February 6th. Finally, Morgan Stanley cut their target price on shares of Alphabet from $215.00 to $210.00 and set an “overweight” rating for the company in a research report on Wednesday, February 5th. 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.com, Alphabet currently has a consensus rating of “Moderate Buy” and a consensus price target of $210.62.

Insider Transactions at Alphabet

In other Alphabet news, Director Kavitark Ram Shriram sold 37,134 shares of Alphabet stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $185.02, for a total transaction of $6,870,532.68. Following the sale, the director now directly owns 282,832 shares of the company’s stock, valued at approximately $52,329,576.64. The trade was a 11.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Amie Thuener O’toole sold 1,374 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $173.47, for a total transaction of $238,347.78. Following the completion of the transaction, the chief accounting officer now owns 15,024 shares of the company’s stock, valued at approximately $2,606,213.28. The trade was a 8.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 134,316 shares of company stock worth $25,062,887. Company insiders own 11.55% of the company’s stock.

Alphabet Trading Up 2.3 %

Alphabet stock opened at $170.92 on Wednesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. Alphabet Inc. has a fifty-two week low of $130.66 and a fifty-two week high of $207.05. The stock has a market cap of $2.08 trillion, a P/E ratio of 21.23, a PEG ratio of 1.34 and a beta of 0.99. The firm’s fifty day moving average price is $189.52 and its 200-day moving average price is $176.41.

Alphabet (NASDAQ:GOOGL) last released its quarterly earnings results on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Equities research analysts forecast that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.47%. The ex-dividend date is Monday, March 10th. Alphabet’s dividend payout ratio (DPR) is 9.94%.

About Alphabet

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.