Taylor & Morgan Wealth Management LLC Cuts Stake in Alphabet Inc. (NASDAQ:GOOGL)

Taylor & Morgan Wealth Management LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 1.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,301 shares of the information services provider’s stock after selling 361 shares during the period. Alphabet accounts for approximately 2.1% of Taylor & Morgan Wealth Management LLC’s investment portfolio, making the stock its 13th biggest position. Taylor & Morgan Wealth Management LLC’s holdings in Alphabet were worth $3,201,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the business. TCI Wealth Advisors Inc. grew its stake in Alphabet by 7.9% during the 3rd quarter. TCI Wealth Advisors Inc. now owns 20,243 shares of the information services provider’s stock valued at $3,357,000 after acquiring an additional 1,476 shares in the last quarter. Vima LLC grew its stake in shares of Alphabet by 23.9% in the 3rd quarter. Vima LLC now owns 1,450 shares of the information services provider’s stock valued at $241,000 after buying an additional 280 shares during the period. Concord Wealth Partners boosted its position in shares of Alphabet by 22.1% during the 3rd quarter. Concord Wealth Partners now owns 36,853 shares of the information services provider’s stock worth $6,112,000 after purchasing an additional 6,664 shares during the period. Investment Partners Asset Management Inc. boosted its position in shares of Alphabet by 0.7% during the 3rd quarter. Investment Partners Asset Management Inc. now owns 16,781 shares of the information services provider’s stock worth $2,783,000 after purchasing an additional 111 shares during the period. Finally, Asahi Life Asset Management CO. LTD. boosted its position in shares of Alphabet by 4.2% during the 3rd quarter. Asahi Life Asset Management CO. LTD. now owns 24,775 shares of the information services provider’s stock worth $4,109,000 after purchasing an additional 990 shares during the period. Hedge funds and other institutional investors own 40.03% of the company’s stock.

Alphabet Trading Down 1.3 %

Shares of Alphabet stock opened at $178.35 on Friday. Alphabet Inc. has a 1 year low of $127.90 and a 1 year high of $191.75. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The company has a market capitalization of $2.18 trillion, a P/E ratio of 23.65, a PEG ratio of 1.25 and a beta of 1.03. The company’s fifty day moving average is $163.54 and its two-hundred day moving average is $169.59.

Alphabet (NASDAQ:GOOGL) last issued its quarterly earnings data on Tuesday, October 29th. The information services provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.29. Alphabet had a net margin of 27.74% and a return on equity of 31.66%. The company had revenue of $88.27 billion for the quarter, compared to the consensus estimate of $72.85 billion. During the same period last year, the firm posted $1.55 EPS. Analysts forecast that Alphabet Inc. will post 7.99 earnings per share for the current year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 9th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.45%. The ex-dividend date is Monday, December 9th. Alphabet’s payout ratio is 10.61%.

Insider Activity

In other news, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $163.03, for a total value of $130,424.00. Following the sale, the director now owns 30,024 shares of the company’s stock, valued at $4,894,812.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director John L. Hennessy sold 800 shares of Alphabet stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $163.03, for a total value of $130,424.00. Following the sale, the director now owns 30,024 shares of the company’s stock, valued at $4,894,812.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frances Arnold sold 441 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $171.06, for a total transaction of $75,437.46. Following the completion of the sale, the director now owns 16,490 shares of the company’s stock, valued at $2,820,779.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 242,552 shares of company stock valued at $40,287,253 over the last quarter. Corporate insiders own 11.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on GOOGL shares. Guggenheim increased their price objective on shares of Alphabet from $195.00 to $205.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Wolfe Research started coverage on shares of Alphabet in a research report on Tuesday, July 16th. They set an “outperform” rating and a $240.00 price objective for the company. Sanford C. Bernstein increased their price objective on shares of Alphabet from $180.00 to $185.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. Truist Financial increased their price objective on shares of Alphabet from $220.00 to $225.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Bank of America increased their target price on shares of Alphabet from $206.00 to $210.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Seven equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $205.90.

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.