Pitti Group Wealth Management LLC Sells 236 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Pitti Group Wealth Management LLC reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 2.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,852 shares of the information services provider’s stock after selling 236 shares during the quarter. Alphabet makes up about 2.1% of Pitti Group Wealth Management LLC’s holdings, making the stock its 13th largest position. Pitti Group Wealth Management LLC’s holdings in Alphabet were worth $2,054,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Compass Planning Associates Inc bought a new position in shares of Alphabet during the 4th quarter valued at approximately $30,000. LMR Partners LLP purchased a new position in Alphabet in the third quarter valued at approximately $32,000. E Fund Management Hong Kong Co. Ltd. grew its holdings in Alphabet by 518.8% during the fourth 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 during the period. Fiduciary Advisors Inc. purchased a new stake in Alphabet in the fourth quarter worth $39,000. Finally, PayPay Securities Corp raised its stake in shares of Alphabet by 36.1% in the fourth quarter. PayPay Securities Corp now owns 245 shares of the information services provider’s stock valued at $46,000 after buying an additional 65 shares during the period. 40.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. JMP Securities reiterated a “market perform” rating on shares of Alphabet in a research note on Wednesday, February 5th. Stifel Nicolaus upped their price objective on shares of Alphabet from $200.00 to $225.00 and gave the company a “buy” rating in a report on Monday, January 13th. Piper Sandler reduced their target price on shares of Alphabet from $210.00 to $208.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Citigroup lowered their price target on shares of Alphabet from $232.00 to $229.00 and set a “buy” rating on the stock in a research report on Wednesday, February 5th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $225.00 price objective on shares of Alphabet in a report on Wednesday, February 5th. Ten analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $210.59.

Alphabet Price Performance

Shares of Alphabet stock opened at $154.33 on Friday. 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 52-week low of $147.22 and a 52-week high of $207.05. The company has a fifty day moving average of $179.66 and a 200-day moving average of $176.72. The stock has a market capitalization of $1.88 trillion, a price-to-earnings ratio of 19.17, a price-to-earnings-growth ratio of 1.34 and a beta of 1.02.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share (EPS) 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 expect that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 10th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a yield of 0.52%. Alphabet’s dividend payout ratio (DPR) is currently 9.94%.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,368 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $191.55, for a total value of $262,040.40. Following the transaction, the chief accounting officer now owns 20,681 shares in the company, valued at approximately $3,961,445.55. The trade was a 6.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 200 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $165.53, for a total transaction of $33,106.00. Following the sale, the director now owns 7,813 shares of the company’s stock, valued at approximately $1,293,285.89. This represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 104,812 shares of company stock worth $19,336,979. 11.55% of the stock is currently owned by insiders.

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.