Cedar Wealth Management LLC Has $2.21 Million Stock Position in Alphabet Inc. (NASDAQ:GOOGL)

Cedar Wealth Management LLC raised its position in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 11,677 shares of the information services provider’s stock after purchasing an additional 218 shares during the quarter. Alphabet makes up approximately 0.8% of Cedar Wealth Management LLC’s investment portfolio, making the stock its 16th largest holding. Cedar Wealth Management LLC’s holdings in Alphabet were worth $2,210,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Compass Planning Associates Inc bought a new position in shares of Alphabet during the 4th quarter worth approximately $30,000. E Fund Management Hong Kong Co. Ltd. lifted its position in shares of Alphabet by 518.8% during 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 acquiring an additional 166 shares during the period. Fiduciary Advisors Inc. bought a new position in Alphabet during the fourth quarter worth $39,000. PayPay Securities Corp boosted its stake in 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 acquiring an additional 65 shares in the last quarter. Finally, Denver PWM LLC grew its holdings in Alphabet by 25.4% in the third quarter. Denver PWM LLC now owns 281 shares of the information services provider’s stock worth $47,000 after purchasing an additional 57 shares during the period. Institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling

In other Alphabet news, Director John L. Hennessy sold 200 shares of Alphabet stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $165.53, for a total transaction of $33,106.00. Following the completion of the sale, the director now directly owns 7,813 shares in the company, valued at $1,293,285.89. The trade was a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ruth Porat sold 17,690 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $183.48, for a total transaction of $3,245,761.20. Following the completion of the transaction, the insider now directly owns 1,449,286 shares of the company’s stock, valued at approximately $265,914,995.28. This represents a 1.21 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 87,297 shares of company stock worth $15,936,270. Corporate insiders own 11.55% of the company’s stock.

Alphabet Stock Performance

Shares of GOOGL opened at $157.04 on Thursday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. The stock has a market capitalization of $1.91 trillion, a price-to-earnings ratio of 19.51, a price-to-earnings-growth ratio of 1.34 and a beta of 1.03. Alphabet Inc. has a 52-week low of $147.22 and a 52-week high of $207.05. The stock’s 50-day simple moving average is $177.19 and its 200 day simple moving average is $176.95.

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

Alphabet Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 10th were issued a $0.20 dividend. The ex-dividend date was Monday, March 10th. This represents a $0.80 annualized dividend and a dividend yield of 0.51%. Alphabet’s payout ratio is currently 9.94%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Westpark Capital raised shares of Alphabet to a “strong-buy” rating in a research report on Tuesday. Jefferies Financial Group cut their price target on Alphabet from $235.00 to $200.00 and set a “buy” rating on the stock in a report on Monday. Bank of America restated a “buy” rating and set a $210.00 price objective on shares of Alphabet in a report on Monday, December 23rd. Roth Mkm reissued a “buy” rating and issued a $220.00 price target on shares of Alphabet in a research report on Wednesday, March 19th. Finally, Needham & Company LLC restated a “buy” rating and set 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 five have assigned a strong buy rating to the company. Based on data from MarketBeat, Alphabet currently has a consensus rating of “Moderate Buy” and an average price target of $209.49.

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.