Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by ABLE Financial Group LLC

ABLE Financial Group LLC trimmed its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 0.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,563 shares of the information services provider’s stock after selling 61 shares during the period. ABLE Financial Group LLC’s holdings in Alphabet were worth $1,810,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of GOOGL. JPMorgan Chase & Co. raised its position in shares of 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 purchasing an additional 4,567,275 shares during the last quarter. Wealth Group Ltd. raised its position in shares of Alphabet by 5.2% during the 4th quarter. Wealth Group Ltd. now owns 1,582 shares of the information services provider’s stock worth $299,000 after purchasing an additional 78 shares during the last quarter. Capital & Planning LLC raised its position in shares of Alphabet by 34.3% during the 4th quarter. Capital & Planning LLC now owns 4,383 shares of the information services provider’s stock worth $830,000 after purchasing an additional 1,119 shares during the last quarter. Aspiriant LLC raised its position in shares of Alphabet by 1.4% during the 4th quarter. Aspiriant LLC now owns 80,473 shares of the information services provider’s stock worth $15,233,000 after purchasing an additional 1,104 shares during the last quarter. Finally, Solidarity Wealth LLC raised its holdings in Alphabet by 3.5% in the 4th quarter. Solidarity Wealth LLC now owns 104,013 shares of the information services provider’s stock valued at $19,690,000 after acquiring an additional 3,516 shares during the last quarter. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. JMP Securities reiterated a “market perform” rating on shares of Alphabet in a report on Wednesday, May 21st. Wedbush set a $190.00 price target on Alphabet and gave the company an “outperform” rating in a report on Tuesday, April 15th. Jefferies Financial Group cut their price target on Alphabet from $235.00 to $200.00 and set a “buy” rating for the company in a report on Monday, March 31st. UBS Group set a $195.00 price target on Alphabet in a report on Friday, April 25th. Finally, Piper Sandler boosted their price target on Alphabet from $185.00 to $195.00 and gave the company an “overweight” rating in a report on Friday, April 25th. Ten research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $199.75.

Insider Activity

In related news, CAO Amie Thuener O’toole sold 1,374 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $173.47, for a total transaction of $238,347.78. Following the sale, the chief accounting officer now owns 15,024 shares in the company, valued at $2,606,213.28. This represents a 8.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sundar Pichai sold 32,500 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the sale, the chief executive officer now owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. This trade represents a 1.18% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 164,654 shares of company stock worth $26,793,380. 11.64% of the stock is currently owned by corporate insiders.

Alphabet Stock Performance

Shares of GOOGL stock opened at $168.47 on Monday. The firm has a market capitalization of $2.04 trillion, a P/E ratio of 20.93, a P/E/G ratio of 1.34 and a beta of 1.01. The company’s fifty day moving average price is $158.57 and its two-hundred day moving average price is $174.83. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.84 and a quick ratio of 1.84. Alphabet Inc. has a 12 month low of $140.53 and a 12 month high of $207.05.

Alphabet (NASDAQ:GOOGL) last issued its earnings results on Thursday, April 24th. The information services provider reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.79. The business had revenue of $76.49 billion for the quarter, compared to analyst estimates of $89.30 billion. Alphabet had a net margin of 28.60% and a return on equity of 32.49%. During the same quarter in the prior year, the business posted $1.89 EPS. On average, research analysts anticipate that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend is Monday, June 9th. This is a positive change from Alphabet’s previous quarterly dividend of $0.20. Alphabet’s dividend payout ratio is 9.36%.

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.