Absher Wealth Management LLC Has $23.61 Million Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Absher Wealth Management LLC decreased its stake in Alphabet Inc. (NASDAQ:GOOGL) by 9.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 124,726 shares of the information services provider’s stock after selling 12,781 shares during the period. Alphabet accounts for approximately 3.1% of Absher Wealth Management LLC’s holdings, making the stock its 18th largest position. Absher Wealth Management LLC’s holdings in Alphabet were worth $23,611,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. International Assets Investment Management LLC grew its stake in Alphabet by 43,005.6% during the third quarter. International Assets Investment Management LLC now owns 18,743,594 shares of the information services provider’s stock worth $31,086,250,000 after buying an additional 18,700,111 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Alphabet by 116.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 8,670,225 shares of the information services provider’s stock worth $1,437,957,000 after acquiring an additional 4,662,809 shares in the last quarter. JPMorgan Chase & Co. grew its position in Alphabet by 7.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 63,667,407 shares of the information services provider’s stock worth $10,559,240,000 after acquiring an additional 4,567,275 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Alphabet during the 3rd quarter valued at $513,024,000. Finally, Geode Capital Management LLC raised its position in Alphabet by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 134,030,679 shares of the information services provider’s stock valued at $22,154,651,000 after purchasing an additional 2,626,431 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GOOGL. Robert W. Baird restated an “outperform” rating and set a $205.00 target price on shares of Alphabet in a report on Tuesday, December 10th. BMO Capital Markets reissued an “outperform” rating and set a $217.00 price objective (up previously from $215.00) on shares of Alphabet in a report on Wednesday, October 30th. Royal Bank of Canada boosted their target price on shares of Alphabet from $204.00 to $210.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. JMP Securities reissued a “market perform” rating on shares of Alphabet in a research note on Wednesday, February 5th. Finally, Seaport Res Ptn upgraded shares of Alphabet from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 29th. Ten research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $210.62.

Insider Transactions at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 1,340 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $202.08, for a total value of $270,787.20. Following the completion of the transaction, the chief accounting officer now directly owns 17,848 shares in the company, valued at $3,606,723.84. This trade represents a 6.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John L. Hennessy sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $189.80, for a total value of $284,700.00. Following the sale, the director now owns 21,824 shares in the company, valued at approximately $4,142,195.20. This represents a 6.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 89,529 shares of company stock valued at $16,600,078 over the last 90 days. 11.55% of the stock is owned by corporate insiders.

Alphabet Price Performance

Shares of NASDAQ GOOGL opened at $185.23 on Friday. The company has a fifty day moving average price of $192.85 and a 200 day moving average price of $175.14. The firm has a market cap of $2.27 trillion, a PE ratio of 23.01, a PEG ratio of 1.39 and a beta of 0.99. The company has a current ratio of 1.84, a quick ratio of 1.95 and a debt-to-equity ratio of 0.03. Alphabet Inc. has a 1-year low of $130.66 and a 1-year high of $207.05.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Tuesday, February 4th. The information services provider reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.03. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. Research analysts predict that Alphabet Inc. will post 8.91 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 10th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.43%. Alphabet’s dividend payout ratio (DPR) is presently 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.