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

Altus Wealth Management LLC cut its holdings in Alphabet Inc. (NASDAQ:GOOGL) by 12.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,231 shares of the information services provider’s stock after selling 464 shares during the period. Alphabet accounts for about 0.3% of Altus Wealth Management LLC’s portfolio, making the stock its 24th largest holding. Altus Wealth Management LLC’s holdings in Alphabet were worth $488,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Vermillion & White Wealth Management Group LLC acquired a new position in Alphabet during the fourth quarter worth $30,000. DiNuzzo Private Wealth Inc. purchased a new stake in shares of Alphabet during the fourth quarter worth $38,000. Meritage Group LP increased its position in shares of Alphabet by 1,061.5% during the third quarter. Meritage Group LP now owns 302 shares of the information services provider’s stock worth $40,000 after acquiring an additional 276 shares during the period. Armor Investment Advisors LLC increased its position in shares of Alphabet by 31.0% during the fourth quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock worth $47,000 after acquiring an additional 80 shares during the period. Finally, IAG Wealth Partners LLC increased its position in shares of Alphabet by 55.9% during the fourth quarter. IAG Wealth Partners LLC now owns 343 shares of the information services provider’s stock worth $48,000 after acquiring an additional 123 shares during the period. 40.03% of the stock is currently owned by institutional investors and hedge funds.

Alphabet Trading Up 0.8 %

Shares of GOOGL opened at $185.41 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.15 and a quick ratio of 2.15. The firm has a 50 day simple moving average of $171.70 and a 200-day simple moving average of $153.58. Alphabet Inc. has a 1-year low of $115.35 and a 1-year high of $186.05. The stock has a market cap of $2.29 trillion, a price-to-earnings ratio of 28.44, a price-to-earnings-growth ratio of 1.38 and a beta of 1.01.

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

Alphabet Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 10th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, June 10th. This represents a $0.80 annualized dividend and a yield of 0.43%. Alphabet’s payout ratio is currently 12.27%.

Analyst Ratings Changes

Several equities analysts recently commented on GOOGL shares. Citigroup increased their target price on Alphabet from $168.00 to $190.00 and gave the company a “buy” rating in a report on Friday, April 26th. Sanford C. Bernstein increased their target price on Alphabet from $165.00 to $180.00 and gave the company a “market perform” rating in a report on Friday, April 26th. Truist Financial 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. Susquehanna upped their price objective on shares of Alphabet from $170.00 to $225.00 and gave the company a “positive” rating in a research note on Monday, April 29th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $196.00 price objective on shares of Alphabet in a research note on Wednesday, May 15th. Five investment analysts have rated the stock with a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $193.69.

Insiders Place Their Bets

In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $177.40, for a total value of $3,991,500.00. Following the transaction, the chief executive officer now owns 2,213,011 shares in the company, valued at approximately $392,588,151.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Alphabet news, CAO Amie Thuener O’toole sold 682 shares of Alphabet stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $154.79, for a total value of $105,566.78. Following the transaction, the chief accounting officer now owns 29,284 shares in the company, valued at approximately $4,532,870.36. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Sundar Pichai sold 22,500 shares of Alphabet stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $177.40, for a total transaction of $3,991,500.00. Following the transaction, the chief executive officer now owns 2,213,011 shares in the company, valued at approximately $392,588,151.40. The disclosure for this sale can be found here. In the last three months, insiders sold 146,284 shares of company stock valued at $24,534,393. Company insiders own 11.55% of the company’s stock.

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.