Allen Mooney & Barnes Investment Advisors LLC Has $21.88 Million Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

Allen Mooney & Barnes Investment Advisors LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 0.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 141,460 shares of the information services provider’s stock after selling 898 shares during the period. Alphabet accounts for 3.6% of Allen Mooney & Barnes Investment Advisors LLC’s holdings, making the stock its 2nd biggest holding. Allen Mooney & Barnes Investment Advisors LLC’s holdings in Alphabet were worth $21,875,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Rockbridge Capital Management LLC purchased a new stake in shares of Alphabet during the 4th quarter worth approximately $3,119,000. Optivise Advisory Services LLC raised its holdings in shares of Alphabet by 8.0% during the 4th quarter. Optivise Advisory Services LLC now owns 5,464 shares of the information services provider’s stock worth $1,035,000 after acquiring an additional 403 shares in the last quarter. Community Bank N.A. raised its holdings in shares of Alphabet by 6.4% during the 4th quarter. Community Bank N.A. now owns 46,173 shares of the information services provider’s stock worth $8,741,000 after acquiring an additional 2,790 shares in the last quarter. Premier Fund Managers Ltd raised its holdings in shares of Alphabet by 30.0% during the 4th quarter. Premier Fund Managers Ltd now owns 61,792 shares of the information services provider’s stock worth $11,816,000 after acquiring an additional 14,262 shares in the last quarter. Finally, Absolute Capital Management LLC raised its holdings in shares of Alphabet by 14.0% during the 4th quarter. Absolute Capital Management LLC now owns 2,096 shares of the information services provider’s stock worth $401,000 after acquiring an additional 258 shares in the last quarter. 40.03% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Alphabet

In related news, CEO Sundar Pichai sold 32,500 shares of the firm’s stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $168.71, for a total transaction of $5,483,075.00. Following the sale, the chief executive officer now owns 2,587,696 shares of the company’s stock, valued at $436,570,192.16. This trade represents a 1.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kavitark Ram Shriram sold 10,500 shares of the firm’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 $1,837,500.00. Following the sale, the director now directly owns 261,966 shares in the company, valued at approximately $45,844,050. The trade was a 3.85% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 195,570 shares of company stock valued at $32,003,532. 11.64% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on GOOGL shares. Wedbush set a $190.00 price objective on Alphabet and gave the stock an “outperform” rating in a report on Tuesday, April 15th. Westpark Capital reaffirmed a “buy” rating and set a $210.00 price objective on shares of Alphabet in a report on Thursday, May 8th. Piper Sandler upped their price objective on Alphabet from $185.00 to $195.00 and gave the stock an “overweight” rating in a report on Friday, April 25th. Wells Fargo & Company boosted their target price on Alphabet from $167.00 to $175.00 and gave the company an “equal weight” rating in a research report on Friday, April 25th. Finally, Truist Financial cut their target price on Alphabet from $220.00 to $200.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Ten equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $199.75.

Alphabet Price Performance

GOOGL opened at $174.67 on Friday. Alphabet Inc. has a 12-month low of $140.53 and a 12-month high of $207.05. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.03. The business’s fifty day simple moving average is $162.89 and its 200-day simple moving average is $174.61. The company has a market capitalization of $2.12 trillion, a price-to-earnings ratio of 21.70, a PEG ratio of 1.34 and a beta of 1.01.

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

Alphabet Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 9th will be given a dividend of $0.21 per share. This is an increase from Alphabet’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.48%. Alphabet’s dividend payout ratio is presently 9.36%.

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.