Alphabet Inc. (NASDAQ:GOOGL) Shares Sold by Prentice Wealth Management LLC

Prentice Wealth Management LLC reduced its stake in shares of Alphabet Inc. (NASDAQ:GOOGL) by 7.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,749 shares of the information services provider’s stock after selling 506 shares during the quarter. Prentice Wealth Management LLC’s holdings in Alphabet were worth $1,019,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Alphabet in the fourth quarter valued at approximately $15,441,917,000. Vanguard Group Inc. grew its position in shares of Alphabet by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 493,810,251 shares of the information services provider’s stock valued at $68,980,354,000 after purchasing an additional 6,374,756 shares during the last quarter. Public Employees Retirement Association of Colorado grew its position in shares of Alphabet by 39,754.9% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 6,025,667 shares of the information services provider’s stock valued at $841,725,000 after purchasing an additional 6,010,548 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of Alphabet by 4,894.1% in the fourth quarter. International Assets Investment Management LLC now owns 5,445,396 shares of the information services provider’s stock valued at $7,606,670,000 after purchasing an additional 5,336,359 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board acquired a new stake in shares of Alphabet in the third quarter valued at approximately $601,545,000. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total transaction of $105,566.78. Following the completion of the transaction, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at approximately $4,532,870.36. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total value of $105,566.78. Following the completion of the transaction, the chief accounting officer now directly owns 29,284 shares of the company’s stock, valued at approximately $4,532,870.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $155.67, for a total transaction of $3,502,575.00. Following the completion of the transaction, the chief executive officer now directly owns 2,325,513 shares of the company’s stock, valued at $362,012,608.71. The disclosure for this sale can be found here. Insiders sold a total of 146,284 shares of company stock valued at $24,534,393 in the last ninety days. Corporate insiders own 11.55% of the company’s stock.

Alphabet Price Performance

GOOGL opened at $183.88 on Thursday. The company has a fifty day simple moving average of $171.13 and a 200 day simple moving average of $153.36. The firm has a market cap of $2.27 trillion, a price-to-earnings ratio of 28.20, a PEG ratio of 1.38 and a beta of 1.01. Alphabet Inc. has a twelve month low of $115.35 and a twelve month high of $184.51. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.05.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.40. The company had revenue of $80.54 billion during the quarter, compared to analyst estimates of $66.04 billion. Alphabet had a net margin of 25.90% and a return on equity of 29.52%. During the same period last year, the business earned $1.17 EPS. Equities research analysts expect that Alphabet Inc. will post 7.6 EPS for the current fiscal year.

Alphabet Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend was Monday, June 10th. Alphabet’s dividend payout ratio is currently 12.27%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Needham & Company LLC increased their price target on shares of Alphabet from $160.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Loop Capital upped their price objective on shares of Alphabet from $155.00 to $170.00 and gave the company a “hold” rating in a research note on Wednesday, May 1st. Piper Sandler reissued an “overweight” rating and set a $200.00 price objective (up previously from $160.00) on shares of Alphabet in a research note on Friday, April 26th. Rosenblatt Securities upped their price objective on shares of Alphabet from $172.00 to $182.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Finally, Mizuho upped their price objective on shares of Alphabet from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, April 26th. Five research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $193.69.

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.