Maltin Wealth Management Inc. lowered its position in Alphabet Inc. (NASDAQ:GOOGL – Free Report) by 5.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 3,274 shares of the information services provider’s stock after selling 200 shares during the period. Maltin Wealth Management Inc.’s holdings in Alphabet were worth $494,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. Vermillion & White Wealth Management Group LLC bought a new position in shares of Alphabet during the 4th quarter worth about $30,000. DiNuzzo Private Wealth Inc. acquired a new position in Alphabet during the 4th quarter worth approximately $38,000. Meritage Group LP boosted its holdings in Alphabet by 1,061.5% in 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 in the last quarter. Armor Investment Advisors LLC grew its stake in Alphabet by 31.0% in the fourth quarter. Armor Investment Advisors LLC now owns 338 shares of the information services provider’s stock valued at $47,000 after acquiring an additional 80 shares during the period. Finally, IAG Wealth Partners LLC increased its holdings 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 valued at $48,000 after acquiring an additional 123 shares in the last quarter. 40.03% of the stock is owned by institutional investors.
Alphabet Price Performance
NASDAQ:GOOGL opened at $182.15 on Friday. The stock has a fifty day moving average of $172.85 and a 200 day moving average of $154.29. Alphabet Inc. has a 52-week low of $115.35 and a 52-week high of $186.05. The firm has a market capitalization of $2.25 trillion, a price-to-earnings ratio of 27.94, a P/E/G ratio of 1.39 and a beta of 1.01. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.15 and a current ratio of 2.15.
Alphabet Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors 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 dividend on an annualized basis and a yield of 0.44%. Alphabet’s dividend payout ratio is presently 12.27%.
Insider Buying and Selling at Alphabet
In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $155.67, for a total value of $3,502,575.00. Following the completion of the sale, the chief executive officer now owns 2,325,513 shares of the company’s stock, valued at $362,012,608.71. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Alphabet news, CEO Sundar Pichai sold 22,500 shares of the company’s 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 sale, the chief executive officer now directly owns 2,325,513 shares in the company, valued at $362,012,608.71. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Prabhakar Raghavan sold 3,258 shares of Alphabet stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $155.97, for a total value of $508,150.26. Following the completion of the transaction, the senior vice president now owns 144,685 shares in the company, valued at approximately $22,566,519.45. The disclosure for this sale can be found here. Insiders have sold 146,284 shares of company stock worth $24,534,393 over the last 90 days. Corporate insiders own 11.55% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages recently issued reports on GOOGL. Roth Mkm increased their target price on Alphabet from $164.00 to $202.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Jefferies Financial Group raised their price objective on shares of Alphabet from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Wednesday. Loop Capital lifted their price objective on shares of Alphabet from $155.00 to $170.00 and gave the company a “hold” rating in a report on Wednesday, May 1st. Morgan Stanley restated an “overweight” rating and issued a $195.00 target price on shares of Alphabet in a report on Wednesday, May 15th. Finally, JPMorgan Chase & Co. lifted their price target on Alphabet from $165.00 to $200.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Six research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and a consensus target price of $193.66.
View Our Latest Analysis on Alphabet
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.
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