Xcel Wealth Management LLC Has $12.28 Million Position in Alphabet Inc. (NASDAQ:GOOGL)

Xcel Wealth Management LLC trimmed its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 13.5% in the first quarter, HoldingsChannel reports. The institutional investor owned 79,391 shares of the information services provider’s stock after selling 12,417 shares during the quarter. Alphabet accounts for about 3.8% of Xcel Wealth Management LLC’s portfolio, making the stock its 4th largest holding. Xcel Wealth Management LLC’s holdings in Alphabet were worth $12,277,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in GOOGL. Norges Bank bought a new stake in Alphabet during the fourth quarter worth approximately $24,383,677,000. FMR LLC lifted its position in shares of Alphabet by 9.8% in the 4th quarter. FMR LLC now owns 248,416,916 shares of the information services provider’s stock valued at $47,025,322,000 after acquiring an additional 22,100,902 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Alphabet by 16,993.2% in the 1st quarter. GAMMA Investing LLC now owns 16,062,457 shares of the information services provider’s stock valued at $2,483,898,000 after acquiring an additional 15,968,487 shares in the last quarter. Northern Trust Corp lifted its position in shares of Alphabet by 17.0% in the 4th quarter. Northern Trust Corp now owns 69,616,854 shares of the information services provider’s stock valued at $13,178,470,000 after acquiring an additional 10,135,430 shares in the last quarter. Finally, Capital Research Global Investors lifted its position in shares of Alphabet by 16.2% in the 4th quarter. Capital Research Global Investors now owns 72,033,086 shares of the information services provider’s stock valued at $13,635,878,000 after acquiring an additional 10,037,685 shares in the last quarter. 40.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Alphabet

In other Alphabet news, Director John L. Hennessy sold 600 shares of the business’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $175.00, for a total value of $105,000.00. Following the completion of the transaction, the director directly owned 6,813 shares of the company’s stock, valued at approximately $1,192,275. The trade was a 8.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kavitark Ram Shriram sold 10,500 shares of the business’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $175.00, for a total transaction of $1,837,500.00. Following the completion of the transaction, the director directly owned 261,966 shares of the company’s stock, valued at approximately $45,844,050. This represents a 3.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 215,643 shares of company stock worth $36,330,928. 11.64% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Citigroup reiterated a “buy” rating and issued a $203.00 target price (up previously from $200.00) on shares of Alphabet in a research report on Tuesday, June 24th. Tigress Financial increased their target price on shares of Alphabet from $220.00 to $240.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, April 30th. Sanford C. Bernstein increased their target price on shares of Alphabet from $165.00 to $185.00 and gave the stock a “market perform” rating in a research report on Friday, April 25th. Needham & Company LLC restated a “buy” rating and set a $178.00 price target on shares of Alphabet in a research note on Friday, April 25th. Finally, Oppenheimer increased their price target on shares of Alphabet from $185.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, April 25th. Ten investment 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 company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $200.13.

Alphabet Price Performance

NASDAQ:GOOGL opened at $176.62 on Thursday. The company has a 50-day moving average of $169.67 and a 200-day moving average of $173.69. The company has a market capitalization of $2.14 trillion, a price-to-earnings ratio of 19.69, a PEG ratio of 1.23 and a beta of 1.00. Alphabet Inc. has a 52 week low of $140.53 and a 52 week high of $207.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.77 and a current ratio of 1.77.

Alphabet (NASDAQ:GOOGL) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.79. The company had revenue of $76.49 billion during the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 30.86% and a return on equity of 34.54%. During the same quarter last year, the business posted $1.89 earnings per share. As a group, equities research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 9th were given a $0.21 dividend. This is an increase from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Monday, June 9th. This represents a $0.84 annualized dividend and a yield of 0.48%. Alphabet’s payout ratio is presently 9.36%.

Alphabet Company 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.